A marijuana plant.BRENDAN SMIALOWSKI/AFP / Getty Images
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Premium Brands Holdings Corp. (PBH-T) is raising $100-million in a financing of convertible unsecured subordinated debentures.
It has an agreement with a syndicate of underwriters co-led by CIBC Capital Markets, BMO Capital Markets and National Bank Financial Inc.
The company said it intends to use the net proceeds to reduce debt and for future acquisitions.
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Emerald Health Therapeutics Inc. (EMH-X) issued a press release late Tuesday in response to a request by the Investment Industry Regulatory Organization of Canada to comment on recent trading activity of its stock.
The stock increased by 35 cents, or 43 per cent, on Tuesday to $1.17. More than two million shares were traded on Tuesday, compared to the daily average of about 413,000 over the past three months.
The company said it's "not aware of any material, undisclosed corporate developments and has no material change to report at this time."
The stock is up 445 per cent so far this year.
The Victoria, B.C.-based company owns Emerald Health Botanicals, Inc., which has a license to cultivate and sell medical cannabis, and to produce and sell medical cannabis oils in Canada.
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ProMetic Life Sciences Inc. (PLI-T) says it has received clearance by Health Canada to start a placebo-controlled phase 2 clinical trial with its PBI-4050, the company's anti-fibrosis drug candidate.
The trial is for patients with metabolic syndrome and type 2 diabetes.
"We are very excited to quickly move to the placebo-controlled portion of our metabolic syndrome and type 2 diabetes clinical program. Based on the level of clinical efficacy observed in the open-label portion of the program, we are very confident in the ability of PBI-4050 to replicate the same significant reduction in key metabolic parameters in a placebo-controlled clinical trial environment," stated CEO Pierre Laurin in a release.
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Pershing Gold Corp. (PGLC-Q; PGLC-T) has received approval for the listing of its common stock on the Toronto Stock Exchange starting Nov. 17.
"The company's listing on the TSX is a keystone event that will allow us to continue to build liquidity for the company and to diversify our strong shareholder base," said chairman and CEO Stephen Alfers in a release.
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TIO Networks Corp. (TNC-X) reported fourth-quarter revenue of $25-million up from nearly $14-million a year ago.
Analysts were expecting revenue of $20.2-million.
Its net loss was $478,000 for the fourth quarter ended July 31, compared to a profit of $142,000 a year ago.
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