Brent Zettl, founder of CanniMed, holds a marijuana plant in one of their research labs in Saskatoon, Sask.Matt Smith/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.
CanniMed Therapeutics Inc. (CMED-T), which is the target of a hostile takeover bid from Aurora Cannabis (ACB-T), says its subsidiary SubTerra LLC has applied for licenses in the state of Michigan for the production and processing of medical cannabis.
"This initiative is consistent with the company's strategy in advancing pharmaceutical drug approval for cannabis-based medicine in the United States," the company stated. "This application is a pivotal point in the company's business plan, and once approved will provide a significant toehold in the U.S. market through the established governmental approval process."
SubTerra LLC is a plant-based pharmaceutical manufacturer in White Pine, Michigan.
Earlier, CanniMed issued a new letter to shareholders highlighting the benefits of its offer to buy Newstrike Resources Ltd. (HIP-X) and warning of the risks posed by Aurora Cannabis Inc.'s hostile bid to acquire all of the common shares of the company.
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Glance Technologies Inc. (GET-CN) says its partially owned subsidiary Cannapay Financial Inc. has signed a definitive agreement to receive $4-million for licensing and product pre-sales with Cannabis Big Data Holdings Inc. Glance Technologies says it will receive a $1-million fee for the sublicense of Glance's mobile payment app technology.
"Cannabis Big Data will offer big data analytics for the cannabis industry. Our value proposition is in merging customer purchase and basket history with social media and mobile data to create highly personalized customer journeys," stated Rob Anson, CEO of Cannabis Big Data. "By partnering with Cannapay we will be able to offer a full circle digital media and mobile strategy for our industry partners. We've found an effective way of combining blockchain with big data and cannabis."
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Mainstreet Health Investments Inc. (HLP.U-T) says it completed its previously announced name change to Invesque Inc. "Rebranding as Invesque is a monumental milestone for the company, and our team," stated CEO Scott White in a release. "Our platform has grown considerably since initial conception just 18 months ago. The name 'Invesque' has a global presence and stands for the strength and sophistication of our company."
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MYM Nutraceuticals Inc. (MYM-CN) says it's raising $10-million in a non-brokered private placement of up to 3.6 million units at a price of $2.80 each.
"Each unit will consist of one common share and one transferable common share purchase warrant," the company stated. "Each warrant will entitle the holder to acquire one additional common share for a period of 24 months following the closing of the private placement at a price of $4 per warrant share."
The company said it intends to use the net proceeds for general working capital and corporate purposes.
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Helius Medical Technologies Inc. (HSM-T) says its five-for-one reverse stock split will take place after markets close on Jan. 22. The company's common stock will begin trading on a split-adjusted basis on Jan. 23, under the existing trading symbols. The reverse split was previously approved by the shareholders in June.
"The reverse split represents a significant milestone for Helius and another step driving long-term shareholder value," stated CEO Phil Deschamps.
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DHX Brands, the brand management and consumer products arm of DHX Media (DHX.A-T; DHX.B-T; DHXM-Q), has signed its first two consumer products deals in China for the preschool hit Teletubbies, "appointing licensees to launch a new range of toys in the territory, and produce a children's publishing line."
The deals will see the launch of Teletubbies toys in China in spring 2018, followed by the launch of children's books later in the year, the company stated.
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Ballard Power Systems (BLDP-Q; BLDP-T) says it recently implemented certain changes at its Protonex subsidiary "including to narrow and sharpen the focus of its business by divesting certain non-core assets."
Ballard said the divestiture is expected to yield annualized cost savings of $1.4-million per year.
"This action is in addition to steps taken in August, 2017 to reduce and align the Protonex cost base. Together, these actions are expected to yield annualized cost savings of $2.6-million, better positioning Protonex to deliver future profitability," the company stated.
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