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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Platinum Group Metals Ltd. (PTM-T; PLG-N) is raising $40-million (U.S.) in a bought deal financing.
It has an agreement with a syndicate of underwriters led by BMO Capital Markets, to buy 22.2 million shares at $1.80 each. The stock closed at $2.01 on Monday in New York.
The company said net proceeds will be used for underground development and production ramp-up of its Project 1 Maseve Platinum Mine, as well as for working capital during start-up, and debt repayment.
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NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN-T) closed its purchase of Hospital Santa Helena for $127.1-million and a new 10-year financing secured by the REIT's existing Caxias Hospital for $64.5-million. The REIT also announced the completion of its $100-million Canadian "portfolio repositioning program."
"The transactions enhance the REIT's high quality portfolio of healthcare real estate as well as being accretive to earnings and improving its financial profile," stated CEO Paul Dalla Lana. "In particular, we were pleased to see the 125 basis point lower interest rate on our second secured financing this year in Brazil, highlighting the improving domestic credit markets there as well as continued strength of our lead tenant Rede D'Or."
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Redknee Solutions Inc. (RKN-T) says it has won a multi-year contract with a major retailer in Latin America valued at more than $5-million.
The contract is to provide the undisclosed retailer with a cloud-based monetization solution.
"Redknee continues to see growth opportunity in Latin America as service providers adopt solutions that allow them to deliver real-time service offerings, promotions and customer care capabilities in a highly competitive environment," stated CEO Lucas Skoczkowski. "This deal signifies the growing demand Redknee's agile, cloud-based solutions that can be quickly deployed to improve competitiveness and deliver business results."
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American Hotel Income Properties REIT LP (HOT.UN-T) is buying a portfolio of six branded, select-service hotels in Tampa, Orlando, Sarasota, and Fort Myers, Florida for an aggregate purchase price of $61-million (U.S.)
It said the purchase price does not include approximately $10.6-million for the completion of brand-mandated property improvement plans.
The six hotels have a total of 559 rooms which the REIT says are being acquired below management's estimate of replacement cost.
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Sherritt International Corp. (S-T) reported a third-quarter net loss of $120.8-million or 41 cents per share, versus a loss of $210-million or 71 cents a year ago.
Combined revenue was $184.5-million, down 25 per cent from the same quarter a year ago.
"The nickel and oil price rally and strong Cuban energy receipts contributed to a $33-million increase in our ending cash balance since last quarter. We concluded September with $345-million, even after cash consent fees and other transaction expenses of around $15-million related to our bond maturity extension," stated CEO David Pathe.