Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
"The transaction builds on CRH's significant presence in Georgia," the company stated on Monday. It said the new company is expected to generate total annual revenue of $1.3 million (U.S.)
"We believe that this and future transactions will continue to create value for CRH's shareholders over both the immediate and long-term," stated CRH chief executive Edward Wright.
Boston Pizza Royalties Income Fund (BPF.UN-T) said its royalty pool has been adjusted to include the 12 new full service restaurants opened across Canada last year and to remove the six that were permanently closed during the period.
The fund said its royalty pool now includes 372 Boston Pizza restaurants. "This is the fourteenth consecutive year of adding new Boston Pizza restaurants into the Royalty Pool," the company stated.
The new restaurants include nine in Western Canada and three in Ontario. "These new locations further strengthen our position as Canada's number one casual dining brand." stated Boston Pizza International (BPI) chief executive Mark Pacing. "Since the inception of the Fund, 218 net new Boston Pizza restaurants have been added to the Royalty Pool, growing from 154 in 2002 to 372 locations across the country today."
In return for adding net additional royalty and distribution Income from the six new restaurants added to the royalty pool, BPI received 349,023 additional entitlements (representing 80 per cent of the total entitlements), the fund stated.
It said the facility will be used "for investments in the mineral industry, including the acquisition of royalties and/or funding precious metal streams."
The company said the facility may be further increased by another $50 million.
It said the facility will be secured by the company's assets and the term may be further extended.