Marijuana plants stand in a room at the grow facility for Sense of Healing dispensary in Denver, Colorado, U.S., on Wednesday, Dec. 9, 2015.Matthew Staver/Bloomberg
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Aurora Cannabis Inc. (ACB-X) is raising more than $50.6-million in a bought-deal private placement.
The company said it has an agreement with a syndicate of underwriters led by Canaccord Genuity Corp., which has agreed to buy 22.5 million units of the company at $2.25 each.
Net proceeds will be used "primarily towards the company's strategic growth initiatives including its planned facility expansion, and for general working capital purposes," the company said in a release.
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Centerra Gold Inc. (CG-T) has hedged a portion of its expected 2017 copper production from its Mount Milligan mine in B.C. "to increase its cash flow certainty during 2017."
Centerra said it has entered into fixed price forward sales contracts for 24.9 million pounds of Mount Milligan's expected 2017 copper production at an average price of $2.69 (U.S.) per pound.
The company said that represents about 51 per cent of Mount Milligan's expected 2017 copper production, net of copper streaming arrangements with Royal Gold.
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Ballard Power Systems (BLDP-Q; BLDP-T) says it has signed an initial equipment sales agreement with Zhuhai Yinlong Energy Group, a Chinese manufacturer of battery-electric buses.
Ballard said the agreement is for 10 fuel-cell engines.
"Yinlong is a highly-regarded bus manufacturer in China's clean energy mass transportation sector. It is now expanding its product portfolio to include hybrid fuel cell-powered buses to complement the existing offering of battery electric buses," stated Ballard CEO Randy MacEwen in a release.
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Polaris Materials Corp. (PLS-T) said its sales volume increased 2.6 per cent in 2016 to 3.02 million tons versus 2015, and within its revised target range for the full year.
"Growth in sales volumes reflects the start-up of our Long Beach terminal and increased domestic sales, offsetting a modest decline in volumes sold into San Francisco versus 2015," the company said.
In its 2017 outlook, the "preliminary expectation" is that total sales volumes could fall by about 5 per cent.
"However, we have visibility on several opportunities which could have a significant positive impact on 2017 sales," the company said. "Despite modestly lower expected sales volumes, we expect our revenues to increase significantly in 2017, driven by increased volumes to customers with delivered pricing as well as same store pricing improvements."
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Richmont Mines Inc. (RIC-T; RIC-N) appointed Robert Chausse as chief financial officer effective March 20.
He was previously CFO of Stornoway Diamonds and AuRico Gold before that, the company said in a release.
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Trinidad Drilling Ltd. (TDG-T) says it has entered into additional transactions to further refinance its fixed long-term debt, strengthen its balance sheet, and extend its debt maturity.
Trinidad has launched an offer to purchase for cash its outstanding 7.875 per cent senior unsecured notes due 2019 and has commenced a private offering of senior unsecured notes due 2024.
"Along with the net proceeds received from the equity offering, Trinidad plans to use the net proceeds from the private placement to fund the cash purchase price for any 2019 notes that are validly tendered under the tender offer," the company said.
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