Mogo office in Toronto.Kerry K. Taylor
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Quarterhill Inc. (QTRH-T) says it has acquired a portfolio of patents from Panasonic Corp.
"The portfolio relates to semiconductor memory technologies used in dynamic random access memory (DRAM) as well as NAND flash memory," the company stated.
DRAM is used in markets that include PCs, gaming, mobile handsets, servers, networking and automotive. NAND flash memory is used in markets that include mobile handsets, solid state drives, flash cards and USB flash drives.
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The Hydropothecary Corp. (THCX-X) says it's raising $100-million in a public offering. It has entered into an agreement with Canaccord Genuity Corp., Eight Capital and a syndicate of underwriters to buy 25 million units at $4 each.
The company said it intends to use the net proceeds for working capital and general corporate purposes.
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Mogo Finance Technology Inc. (MOGO-T) says blockchain pioneer and expert Anthony Di Iorio has joined the company as a special adviser. He will support the upcoming launch of Mogo's recently announced cryptocurrency account and "new strategic partnership opportunities in blockchain and cryptocurrencies," the company stated.
Mr. Di Iorio is the co-founder of the ethereum cryptocurrency platform.
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Clairvest Group Inc. (CVG-T), a private equity management firm, says it has sold its interest in Wellington Financial's G.P. and the loan assets of Wellington Financial Fund V L.P. to CIBC.
"The sale of Clairvest's interest in Wellington Financial is expected to increase Clairvest's book value by approximately $1.15 per share calculated based on the fair value of Clairvest's investment in Wellington Financial as at Sept. 30," the company stated. "Clairvest will continue to participate in its pro rata share of any profits realized from warrants previously granted to Wellington's institutional funds."
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MPX Bioceutical Corporation (MPX-CN) says it's entering into management agreements with each of Rosebud Organics Inc., authorized to purchase, process and sell medical cannabis products in Maryland, and Budding Rose Inc., authorized to operate a dispensary and sell medical cannabis products in the same state.
The agreements are through S8 Management will provide all management services typically required by a production facility in the case of Rosebud, and a dispensary facility in the case of Budding Rose, the company stated.
"We see our operations in Maryland as offering MPX a ground-floor growth opportunity in a state with a population only slightly smaller than that of Arizona," says Scott Boyes, CEO of MPX. "The addition of a licensed processing facility will allow us to introduce the MPX brand of concentrates to a fourth state and to expand the MPX brand into another east-coast market."
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Brick Brewing Co. Ltd. (BRB-T) says its chief financial officer Sean Byrne has resigned, effective Feb. 8. "Mr. Byrne's departure does not result from any disagreement with Brick Brewing on any matter relating to Brick's operations, policies or practices," the company stated.
David Birch, the director of finance at Brick since July, 2016, will take over as CFO.
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Golden Leaf Holdings Ltd. (GLH-CN) says it's raising $7.5-million in a bought-deal financing. It has an agreement with Canaccord Genuity Corp. to purchase16.8 million units at 45 cents each. Net proceeds will be used "primarily for the company's strategic growth initiatives and for general working capital purposes," the company stated.
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Resverlogix Corp. (RVX-T) says it has entered into a licensing agreement with Medison Pharma Ltd. for the company's lead therapeutic candidate, apabetalone, in Israel and the Palestine Authority. Under the terms of the agreement, Medison has the exclusive rights to distribute and market apabetalone in Israel, the company said.
Apabetalone is currently in development for the treatment of high-risk cardiovascular disease in patients with type 2 diabetes and chronic kidney disease, and potential expanded indications.
"Resverlogix is eligible to receive from Medison, ascending double-digit royalties based on future net sales of the product in the region," it said. "If certain sales milestones are reached total royalty payments are estimated to potentially reach in excess of $100-million (U.S.) over the entire patent life in the region." Medison will be responsible for all regulatory, sales and marketing costs for apabetalone in the Israel region, the company said.
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Namaste Technologies Inc. (N-CN) says it missed the deadline to file its year-end financial documents and, as a result, the B.C. Securities Commission issued a cease trade order against the company and securities have been halted from trading on the Canadian Securities Exchange.
"The company is actively working with its auditors to file the 2017 annual financial statements, which the company expects to be completed imminently," it stated. "Once the 2017 annual financial statements are filed, the company will seek to have the cease trade order revoked."
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EnWave Corp. (ENW-X) says it has signed a technology evaluation and license option agreement with Seven Seas Fish Co. Ltd., a Canadian seafood manufacturer and international distributor.
The agreement grants Seven Seas an exclusive six-month term to evaluate the use of Radiant Energy Vacuum technology for the production of high-value, premium fin fish and other seafood snacks in B.C., the company stated.
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