Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Vancouver-based American Hotel Income Properties REIT LP (HOT.UN-T) said it has recieved additional gross proceeds of about $4.3-million from the completion of the partial exercise of the over-allotment option in connection with its recent offering of limited partnership units. This increases the total gross proceeds from the offering to $42.9-million.
London-based Trafigura Beheer B.V., a market leader in the global commodities industry, said its wholly owned indirect subsidiary Urion Holdings (Malta) Ltd., has acquired a total 2.2-million common shares of Pacific Exploration & Production Corp. (PRE-T) at an average price of $4.42 per share in the open market.
After this purchase, the company now owns 31.65-million shares or about 10 per cent of Pacific's outstanding shares. Trafigura said it has acquired these shares for investment purposes.
Toronto-based Mettrum Health Corp. (MT-X), an integrated agri-pharmaceutical company focused on research, development, production and distribution of medical cannabis products, said it has received a supplemental license from Health Canada for the production of cannabis extracts effective immediately.
Melbourne-based OceanaGold Corp. (OGC-T) issued new guidance for the second half of 2015 including its purchase of the Waihi Gold Mine. With the addition of this mine, OceanaGold said Waihi production guidance range of 65,000 to 70,000 ounces of gold for the second half of 2015 with a cash cost guidance range of $490 (U.S.) to $520 per ounce sold. Its consolidated annual production guidance range is increased to 380,000 to 410,000 ounces of gold. Consolidated annual cash cost guidance range decreased to $420 to $470 per ounce sold from$450 to $530 per ounce sold.
Toronto-based Alamos Gold Inc. (AGI-T) said it has bought 8-million common shares of AuRico Metals Inc. (AMI-T), representing about 6.34% AuRico's outstanding common shares. The shares are being acquired by Alamos by way of private placement at a price of 70 cents per Share. Upon completion of the transaction, Alamos will hold 13.77-million common shares of AuRico, representing about 10.92 per cent of its outstanding common shares. Alamos owns the shares for investment purposes.
Vancouver-based Argentex Mining Corp. (ATX-X) said it has signed a binding offer letter from Austral Gold Ltd. (ASX:AGD) under which Argentex shareholders will receive 0.5651 Austral shares for each Argentex share, implying a price of about 8 cents (Canadian) for each share. Austral has agreed to apply for a listing on the TSX Venture Exchange.
"We are excited by the prospect of merging with Austral Gold to create a platform of growth for precious metals in South America. The merger will create a Company with a unique blend of operations and development projects in the Americas, with access to existing cash flow from a low cost Guanaco mine in Chile. The Company will have a highly experienced development and operational team which will advance our Pinguino project with the ability to exploit other opportunities in the region. This presents a unique value proposition for our shareholders in the current market," said Mike Brown, president and CEO of Argentex.
Health care service company Patient Home Monitoring (PHM-X) reported revenue for the third quarter ended June 30 of $19.4-million, up 255 per cent from a year ago. Net income before stock-based compensation, transactional and non-recurring costs rose to $3.5-million, up 285 per cent from the same quarter last year.
Editor's note: An earlier version of this article incorrectly noted the revenue growth for Patient Home Monitoring. It was 255 per cent, not 2.55 per cent. This version has been corrected.