Glen Abbey is among the most celebrated Canadian golf courses. Built specifically for tournament play, it was the first solo design by golfing legend Jack Nicklaus.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN-T) is raising $70-million in a convertible debenture bought deal.
The offering is being made through a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets.
NorthWest said it intends to use the net proceeds of the offering and existing resources, to repay approximately $70-million of Brazilian term loans maturing in December.
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TWC Enterprises Ltd. (TWC-T) says it has reached a settlement related to the development of its Highland Gate Golf Club in Aurora, Ont. as part of a joint venture with Geranium Homes.
TWC said the settlement involves the Town of Aurora, the local ratepayers and the joint venture and includes a revised development plan that contains fewer single family detached homes than originally proposed, a reduction in the height of the proposed multi-unit residential building to seven from 10 storeys, among other changes.
TWC says its ClubLink subsidiaries have also announced a long-term plan to transform Glen Abbey Golf Club in Oakville, Ont. and dedicate more than half of the privately owned site to the public as permanent, publicly accessible green space.
"The development approval process at Glen Abbey will take time and so it's business as usual for the next several years and of course, ClubLink looks forward to hosting the RBC Canadian Open once again in 2017," the company said.
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Americas Silver Corp. (USA-T) says it has started the initial listing process on the New York Stock Exchange "to target the higher valuation exhibited in dual-listed companies."
The company said the NYSE requires the company do a share consolidation to satisfy the minimum listing requirement of $2 (U.S.)
It said Glass Lewis and Institutional Shareholder Services have recommended shareholders vote in favour of the consolidation resolution being put forward at a meeting on Dec. 19.
The company also said it continues to make progress and reduce costs on its San Rafael zinc-lead-silver project in Mexico.
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Alterra Power Corp. (AXY-T) and funds managed by Axium Infrastructure Inc. have extended the service contract for the Dokie wind farm. Vestas has been providing operations and maintenance services at the wind farm since it began operations in 2011
The extension renews the project service agreement through 2031 and will provide comparable service standards at a cost savings of about $2-million per year, the company said.
"We have enjoyed a great partnership with Vestas over the past five years and are pleased to continue this relationship into the future," stated Paul Rapp, Alterra's vice president of wind.