Take a closer look at small cap companies to boost your portfolio.Photos.com/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.
Canaccord Genuity Group Inc. (CF-T) is raising $60 million in a private placement of 6.5 per cent convertible unsecured senior subordinated debentures.
It has an agreement with what it called "a large Canadian asset manager" for the deal. The debentures will be placed at a price of $1,000 each.
"The proceeds from this placement will directly support our growth plans for our Canadian wealth management business and creates an opportunity to recruit Investment Advisors, increase assets under management and improve the profitability of that business," CEO Dan Daviau said in a release.
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Canacol Energy Ltd. (CNE-T) announced a new capital plan that speeds up its natural gas opportunities in Colombia with three new gas wells and one new oil well drilled in 2016.
The revised 2016 capital plan has increased to $92 million from $58 million to $92 million, the company said in a release.
In August, Canacol raised $35 million from long-term strategic investors including follow-on investment from its largest shareholder, Cavengas Holdings S.R.L. to accelerate gas drilling.
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Epsilon Energy Ltd. (EPS-T) said an agreement it signed in February to acquire an additional 4-per-cent working interest in the producing, developed non-producing and undeveloped properties within the Auburn Gas Gathering system for $11.3 million has expired.
As part of the agreement, Epsilon would become the operator of all the upstream properties.
"This agreement was subject to consents and was expected to close during the second quarter 2016. The agreement was mutually extended into the third quarter; however, the current operator, subject to agreements with others, has been unable to obtain the necessary consents. Therefore, this agreement has expired," CEO Michael Raleigh said in a release.
"Epsilon has developed a good relationship with the operator, and we anticipate revisiting this transaction in the future."
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Centric Health Corp. (CHH-T) is buying CareRx Enterprises Ltd., a provider of pharmacy services to seniors communities in B.C., for an undisclosed price.
"The acquisition of CareRx is highly strategic in that it provides entry into three sizeable local markets with fast growing seniors populations and meaningfully expands our network in regions that will be important to serving national and multi-province customers," said CEO David Cutler in a release.
"The CareRx business will not only be immediately accretive to Adjusted EBITDA and earnings per share but also provides significant new opportunities for growth."
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Montreal-based water treatment company Ovivo Inc. (OVI.A-T) says it has signed an exclusive licensing arrangement with the District of Columbia Water and Sewer Authority (DC Water) for their patented post-aerobic digestion process.
"The DigestivorePAD technology will leverage DC Water's years of collaborative research and open innovation on this proprietary concept as well as Ovivo's decades of experience with sludge stabilization at high solids concentrations using both anaerobic and aerobic digestion," the company said in a release.