A skier rides up the new Crystal Ridge Express chairlift on Blackcomb Mountain in Whistler in this file photo.The Globe and Mail
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Whistler Blackcomb Holdings, Inc. (WB-T) said the Canadian Competition Bureau won't challenge the proposed takeover by Vail Resorts, Inc. (MTN-T).
In a release, the companies said the bureau issued a "no-action letter" under the Competition Act.
The proposed deal still needs approval from Whistler Blackcomb shareholders, the Supreme Court of B.C. and under the Investment Canada Act.
The transaction is expected to close in this fall.
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IBI Group (IBG-T) says it will redeem in cash $43.8-million of its $57.5-million outstanding principal amount of 6 per cent convertible unsecured subordinated debentures due June 30, 2018.
The company said the debentures will be redeemed on Oct. 24.
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Capital Power Corp. (CPX-T) increased the size of its preferred share offering, citing "strong investor demand."
"The underwriters have exercised their option to increase the size of the offering to 8-million Series 7 Shares," the company said in a release on Sept. 23.
The price is $25 per share for total proceeds of $200-million on a bought-deal basis with a syndicate of underwriters, co-led by TD Securities Inc. and CIBC World Markets.
That's up from $150-million announced Sept. 22.
The company said the net proceeds will be used to pay down debt.
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RNC Minerals (RNX-T) says Eric Sprott now owns 10 per cent of the company.
He bought the shares through his participation in a bought deal private placement which closed on Sept. 23.
"RNC is pleased to welcome Eric Sprott, one of the world's premiere gold investors, as our largest shareholder," CEO Mark Selby said in a release. "We are excited to have his support as RNC works to unlock the potential at Beta Hunt and focus on value creation across our portfolio of assets."
Eric Sprott commented, "I look forward to being a supportive shareholder and participating in RNC's growth as it continues to ramp up gold production at its Beta Hunt mine in Western Australia. I am also looking forward to seeing the mine unlock its excellent exploration potential to grow the existing gold resource base."
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Ceres Global Ag Corp. (CRP-T) says it expects to handle between 100 and 110 million bushels of total grains in fiscal 2017, approximately double the 55.8-million bushels from the previous year.
"The expected growth is largely due to the successful buildout of its grain handling and shipping facility at company's Northgate Commodities Logistics Hub located in Saskatchewan and the increased utilization of other elevators in the Ceres network," the company said in a release. It said the increase is also due to the record crops produced during the recently completed harvest season.
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Lundin Gold Inc. (LUG-T) says Kinross Gold Corp. (K-T) has sold a 4.6-per-cent stake in Lundin Gold to GMP Securities for re-sale to existing and institutional shareholders on a private placement basis.
When the transaction closes, Kinross will hold 17.4 per cent of Lundin Gold, or about 22.6 million shares. In a separate release, Kinross said GMP is purchasing the shares at $5.60 each, for a total of $30.8-million. The shares closed at $5.75 on Friday.
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Vecima Networks Inc. (VCM-T) reported fourth-quarter revenue of $24.4-million, up from $23.2-million a year earlier.
Net income was $3.4-million or 15 cents per share, compared to $3.9-million or 17 cents a year earlier.
Analysts were expecting revenue of $16.7-million and earnings of 10 cents per share for the quarter.