Our roundup of Canadian small-caps in the news today.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Cominar Real Estate Investment Trust (CUF-UN-T) says it's selling all non-core properties to Slate Acquisitions Inc. for $1.14-billion.
It said the non-core market portfolio is composed of 97 properties totaling 6.2 million square feet located in the Greater Toronto Area, the Atlantic provinces and in Western Canada.
"We are very pleased with the successful execution of the disposition plan and the sale of our entire non-core market portfolio in one transaction. This transaction will enable Cominar to capitalize on its core markets while also strengthening its balance sheet," stated CEO Michel Dallaire in a release.
**
Aurora Cannabis Inc. (ACB-T) says it will be filing a dissident circular, and will be soliciting votes against the resolution of CanniMed Therapeutics Inc. (CMED-T) to issue shares in connection with the proposed acquisition of Newstrike Resources Ltd. (HIP-X).
"Aurora has analyzed all public disclosure on Newstrike and the proposed acquisition of Newstrike by CanniMed, and has concluded that the proposed transaction offers significantly inferior value to CanniMed shareholders in comparison to Aurora's own offer to acquire CanniMed," the company stated in a release.
**
Drone Delivery Canada (FLT-CN) says Transport Canada has accepted its declaration of compliance for the X1000 Sparrow cargo delivery drone.
"This unmanned aircraft system (UAS) is now compliant with the Transport Canada UAS standard," the company stated.
The Sparrow is the first cargo delivery drone of its kind to be accepted under the Transport Canada, compliant UAS program, the company said.
"This milestone allows DDC to move forward to becoming a compliant UAS operator with the anticipation for the balance of the other two of three approvals in early [first quarter of] 2018."
**
Cannabis Wheaton Income Corp. (CBW-X) says Sustainable Growth Strategic Capital Corp. will become a "significant" streaming partner to the company, and the newest participant in the Wheaton Licensing Program.
"The partnership with SGSC is a great addition to the Cannabis Wheaton family and platform," stated Hugo Alves, president of Wheaton Income in a release. "The team at SGSC are experienced entrepreneurs and are a perfect fit for the Wheaton Licensing Program. We believe this to be an accretive deal for both parties and it allows Wheaton to expand its product pipeline with no capital outlay as well as take on a platform partner that is located in a great strategic location."
**
Namaste Technologies Inc. (N-CN) and Supreme Pharmaceuticals Inc. (FIRE-X) have signed a letter of intent. The LOI — signed by Supreme's wholly owned subsidiary 7ACRES and Namaste's wholly owned subsidiary Cannmart Inc. — sees Supreme supply CannMart with a premium range of dried cannabis flower that will be offered in the company's medical marketplace.
"Under the terms of the LOI, Namaste has committed to work with Supreme as a preferred vendor as related to possible branded partnerships, in addition to supply for Namaste's in-house branded medical cannabis," the companies said. "All Supreme cannabis will bear the 7ACRES producer's mark. Namaste believes that Supreme's Business to Business (B2B) distribution model fits well with Namaste's focus on becoming Canada's leading online retailer for medical cannabis."
In a separate release, Supreme also said it bought a six-acre property adjacent to the 7ACRES facility in Kincardine, Ont. for about $1.9-million
Supreme said it expects to build an indoor cultivation facility to produce "high quality, 'California-style' cannabis for the premium product segment."
**
EnWave Corp. (ENW-X) reported third-quarter revenue of $3.6-million, up from $2.5-million a year earlier.
Its net loss was $1.1-million or a penny per share versus a loss of $1.6-million or 2 cents for the same period last year.
**
Alaris Royalty Corp. (AD-T) announced the capital deployment of $35.5-million (U.S.), consisting of $20.5-million to two existing partners as well as a pending $15-million transaction with a new partner bringing year to date capital deployment to a record of approximately $195-million.
The company also announced an increase to the base credit facility to $300-million (Canadian) from $200-million pending final syndicate approval, "which will provide Alaris with approximately $120 million of undrawn capacity to deploy into new and existing partners."
The company also announced expectations for a $2-million increase to annual distributions "based on expected resets from certain partners effective January 1, 2018."
It said the cumulative impact of the announcements are a 13-cent (after-tax) increase in distributable cash per share as well as a run rate payout ratio below 90 per cent.
**
Organigram Holdings Inc. (OGI-X) reported fourth-quarter sales of $2.1-million versus $1.9-million a year earlier.
Its loss was $2-million or 2 cents per share versus income of about $625,000 or a penny per share last year, according to documents posted on Sedar.