Eastern Platinum.Reuters
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Ballard Power Systems (BLD-T, BLDP-Q) says it has signed a "landmark" deal, valued at $168-million over five years, to provide fuel cell stacks in China.
"There is unprecedented market interest for fuel cell buses and commercial vehicles in China – the largest market in the world," stated Ballard CEO Randy MacEwen in a release.
It said the agreement is with Guangdong Nation Synergy Hydrogen Power Technology Co. Ltd. for fuel cell stack production operation in the City of Yunfu, in Guangdong Province.
Ballard said the fuel cell stacks will be packaged into locally assembled fuel cell engines and integrated into zero-emission buses and commercial vehicles in China.
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Gluskin Sheff + Associates Inc. (GS-T) estimates its assets under management (AUM) were $8.3-billion as of June 30, up 1.2 per cent from March 31.
"This increase in AUM is attributable to positive net investment performance of $149-million partially offset by net withdrawals of $50-million," the company said in a release.
It said $62-million in net withdrawals from high net worth clients were partially offset by $12-million in net additions from institutional clients.
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Eastern Platinum Ltd. (ELR-T) has named David Li as interim chief financial officer of the company.
Mr. Li is also vice president of Asia Pacific with Alderon Iron Ore Corp., the company said in a release.
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Largo Resources Ltd. (LGO-T) says it has a non-binding memorandum of understanding with Vionx Energy Corp., a company which develops, produces and sells Vanadium Redox Flow Batteries, for utility grid applications.
"The MOU summarizes the principal terms upon which Largo and Vionx will continue discussions that may lead to the supply by Largo of vanadium electrolyte to Vionx to further the research and development of advanced VRBs utilizing VNX Grid Energy Storage Systems," the company said in a release.
"This is a historic first step in establishing the first partnership between a VRB company and a global vanadium producer," stated Largo CEO Mark Smith.
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Bellatrix Exploration Ltd. (BXE-T, BNE-N) says it has completed its semi-annual borrowing base redetermination and renewed its syndicated credit facilities.
It said the total commitments under the its credit facilities have been set at $365-million.
"Bellatrix continues to be actively engaged in several initiatives intended to reduce outstanding indebtedness, and specifically to repay the term facility in full prior to its maturity date," the company said in a release.
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Ag Growth International Inc. (AFN-T) says it has bought Mitchell Mill Systems Canada Ltd. and its U.S. affiliate Mitchell Mill Systems USA.
"The acquisition of Mitchell expands AGI's commercial business into eastern Canadian, expands our reach in the U.S. while also providing an expanded product offering," said AGI CEO Tim Close in a release.
The price of the deal wasn't disclosed.
AGI said the manufacturer of material handling equipment used in grain, fertilizer, animal feed and food processing had revenue of $30-million in the year ended Feb. 28.
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Paladin Energy Ltd. (PDN-T) said it sold 1.8 million pounds of its uranium compound at an average selling price of $34.91 (U.S.) per pound in the quarter ended June 30, generating gross sales revenue of $63-million, a 205 per cent increase over the previous quarter's revenue.
It said the aggregate sales volume in the quarter reflected a fixed price contract delivery and a large delivery.
The TradeTech weekly spot price average for the June quarter was $27.50 per pound, down 25 per cent from a year ago.
The company said its discussions have advance with parties regarding strategic investment transactions, with an announcement expected before the end of July.