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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Lucara Diamond Corp. (LUC-T) announced on Sunday that CEO William Lamb and stepping down from the board, effective immediately, and will be replaced by a company founder and director, Eira Thomas.
Separately, the company also announced the acquisition of Clara Diamond Solutions Corp., which has a digital sales platform that Lucara said will "transform how rough diamonds are sold, unlocking value for diamond producers and manufacturers alike."
Lucara said Clara Diamond Solutions uses "proprietary analytics together with cloud and blockchain technologies to modernize the existing diamond supply chain, driving efficiencies and ensuring diamond provenance from mine to finger."
The deal is valued at about $29-million (based on a consideration of 13.1 million Lucara shares based on Friday's closing share price) and will result is about a 3.7-per-cent dilution to its existing share capital. "Further staged equity payments totaling 13.4 million shares become payable upon the achievement of performance milestones related to total revenues (revenues from rough diamonds bought and sold) generated through the platform.," the company stated.
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Lundin Gold Inc. (LUG-T) announced a US$400-million equity private placement financing.
"The private placement, coupled with the recent lenders' commitments for a senior debt facility, substantially completes the funding requirements, based on current estimates, for the Fruta del Norte gold project in Ecuador," the company stated in a release.
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Invesque Inc. (IVQ.U-T) says it has acquired two post-acute transitional care facilities in Texas from Mainstreet Property Group for $51.9-million.
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MCAN Mortgage Corp. (MKP-T) reported net income of $10.8-million or 47 cents per share for the fourth quarter, up from $9-million or 39 cents per share for the same quarter in 2016. Analysts were expecting earnings of 41 cents per share.
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DHX Media Ltd. (DHX.B-T; DHX.A-T; DXM-Q) has announced a pair of top management changes as it continues a strategic review, including a possible sale of the company. The children's media company says Dana Landry is stepping down as chief executive and as a member of the company's board of directors to pursue other projects.
Executive chairman and co-founder Michael Donovan has been appointed chief executive. DHX also says that Doug Lamb has been appointed chief financial officer to replace Keith Abriel, who will be leaving the company after a short transition. Lamb was chief financial officer at Postmedia until February 2017.
DHX announced a strategic review in October 2017 following disappointing financial results.
-The Canadian Press
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MedReleaf Corp. (LEAF-T) says it has entered into agreements to acquire one million square feet of existing greenhouse infrastructure on a 69-acre property in Exeter, Ont. and 95 acres of adjacent land for $21.5-million in cash and 225,083 common shares.
"The addition of greenhouse production in concert with our two best-in-class indoor cultivation facilities will allow us to more rapidly expand capacity and to address the growing need for raw material inputs for extract and other non-flower related products from our premium and exclusive varieties," stated Neil Closner, CEO of MedReleaf.
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The Second Cup Ltd. (SCU-T) reported adjusted net income of $655,000 or 4 cents per share for the fourth quarter compared with $147,000 or a penny per share in the prior year.
Same-store sales fell 1.1 per cent in the fourth quarter. Revenue came in at $6.1-million versus $7.5-million the year before.
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Grande West Transportation Group Inc. (BUS-X) announced a new order for its Vicinity buses valued at about $3.1-million from Hamilton Street Railway. This is the second order from HSR for delivery in 2018, the company stated.
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Nuuvera Inc. (NUU-X) says it has signed an offtake agreement with Verve Dynamics Inc., a licensed cannabis grower in the Kingdom of Lesotho. "Nuuvera will be the first Canadian company to have access to high quality, low-cost cannabis produced in the African continent," according to Lorne Abony, CEO of Nuuvera.
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Extendicare Inc. (EXE-T) says it has an agreement to acquire the Lynde Creek Retirement Community in Whitby, Ont. for $34.5 million.
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Radient Technologies Inc. (RTI-X) says it has signed an agreement to produce a variety of cannabis extracts for Bonify, a private, Manitoba-based licensed producer of medical cannabis.
"Radient will use its proprietary microwave-based extraction platform and decades of extraction expertise to deliver 'Extraction as a Service' to Bonify," the company stated.
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Endeavour Silver Corp. (EXK-N; EDR-T) reported net earnings of US$2.7-million or 2 cents per share in the fourth quarter compared to a loss of US$5.2-million or 4 cents per share a year earlier. Revenue was US$41.6-million versus US$28.7-million a year earlier.
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Torex Gold Resources Inc. (TXG-T) issued a statement regarding "misinformation being circulated by external groups and the local media" regarding a land access agreement with the Real Del Limon Ejido in Mexico.
It says a media article, "based primarily on an interview with a Los Mineros Union leader, suggests the Ejido has terminated the Lease Agreement. This is untrue."
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Mirasol Resources Ltd. (MRZ-X) says it has signed a binding letter agreement with a subsidiary of Newcrest Mining Ltd for its Zeus gold project in Chile. Newcrest has the right to acquire, in multiple stages, up to 80 per cent of the Zeus project, "by completing a series of exploration and development milestones and making staged option payments to Mirasol of US$1-million."
Newcrest will also spend a minimum of US$1.5-million at Zeus over an initial 18-month period, the company stated.
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EnWave Corporation (ENW-X) says it has signed a commercial royalty-bearing license agreement with Nomad Nutrition Limited, "a Canadian company focused on the development and commercialization of premium shelf-stable, nutrient-packed gourmet products that are made from locally sourced organic ingredients."
Nomad also signed an Equipment Purchase Agreement to obtain an introductory-scale Radiant Energy Vacuum machine for immediate commercial production, the company said in a release.
"Nomad has agreed to pay EnWave an undisclosed royalty on the revenue derived from the sales of their products in exchange for the exclusive right to manufacture their specific products in Canada using REV™ technology."