A condo complex under construction is seen in Whistler, B.C., on Thursday December 4, 2014.DARRYL DYCK/The Globe and Mail
Our roundup of Canadian small-caps making news and on the move today.
Vancouver-based CanWel Building Materials Group Ltd. (CWX-T) said it is seeking the shareholder approval to issue shares in connection with its previously announced acquisition of assets from two privately-owned, California-based building products distribution and treating companies for about $45-million (U.S.) plus certain assumed senior debt of about $9-million.
As well, it is seeking approval for a "bought deal" private placement of 7 million subscription receipts at a price of $5 (Canadian) per subscription receipt for gross proceeds of $35-million. The underwriters also have an option to buy an additional 1 million subscription receipts for additional proceeds of up to $5.25-million. The company is also undertaking a concurrent non-brokered private placement with certain insiders of up to 2.5 million subscription receipts for proceeds of up to $12.3-million
In connection with the acquisition, the Canwel will also issue shares with a value of up to $15-million (U.S.).
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Nevada Iron Ltd. (NVR-T), an Australian based resource company focused on the development of the Buena Vista Iron Project, which is located in Nevada, said it has been notified by the Toronto Stock Exchange that its shares have been placed under delisting review.
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Lynden Energy Corp. (LVL-X) said it has received approval from the TSX Venture Exchange to conduct a normal course issuer bid to purchase for cancellation up to 6.5 million of its common shares representing about 5 per cent of its outstanding shares. It said the buybacks would be done via the TSX Venture Exchange.
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Vancouver-based Camino Minerals Corp. (COR-X) said it has sold Rojo Resources, a wholly owned Mexican subsidiary, to a private Mexican mining syndicate. Rojo Resources held title to the exploration projects transferred as part of the Canplats transaction in 2010. The company said it also completed a sale in May of certain assets to a private Mexican company. At current exchange rates, the two transactions have a combined value of about $592,000 (Canadian).
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Alignvest Acquisition Corp. (AQX.UN-T) announced the closing of its initial public offering of $225-million of Class A restricted voting units at $10 each.
Alignvest Management Corp. said it is the sponsor of Alignvest Acquisition. Alignvest is an alternative investment management firm created with the founding principle of increasing alignment between asset managers and their clients.
The Class A restricted voting units will commence trading Wednesday on the Toronto Stock Exchange under the symbol "AQX.UN."
Tim Shufelt