Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Pengrowth Energy Corp. (PGF-T; PGH-N) says it has an agreement to sell the "vast majority of its remaining non-core legacy assets" in Alberta, including "mature legacy assets" from 36 properties and more than 270 facilities and 1,600 wellbores.
It said the sale is for a "nominal cash consideration and the assumption of abandonment and reclamation liabilities."
The combined assets generated average daily production of approximately 5,500 barrels of oil equivalent per day and is expected to generate "material savings in aggregate operating expenses as well as general and administrative costs."
The company said cost savings and sale proceeds together will be neutral to funds flow.
Pattern Energy Group Inc. (PEGI-Q; PEGI-T) says it has started a primary underwritten public offering of 8 million shares of its Class A common stock, subject to market conditions.
The company intends to use the net proceeds general corporate purposes, which it says may include funding acquisitions.
Sabina Gold & Silver Corp. (SBB-T) says it has signed a binding term sheet for land tenure and benefits with the Kitikmeot Inuit Association, representing the Kitikmeot Inuit, for its Back River gold project in Nunavut,
"We believe we have negotiated terms that focus on the interests of Inuit of the Kitikmeot Region providing them with training, employment, business opportunities and direct economic benefits from the Back River project," stated Stanley Anablak, president of the KIA.
Sabina CEO Bruce McLeod said the framework agreement terms "have been negotiated in good faith with a result that benefits both Sabina and all of our Nunavut stakeholders."
Cronos Group Inc. (MJN-T) says it's raising $15-milion in a bought-deal financing.
It has a letter of engagement with PI Financial Corp. as sole lead underwriter to purchase for resale 4.8 million shares at $3.15 each.
The company said it intends to use the net proceeds for general corporate purposes, to fund growth and to provide for possible future acquisitions.
Prometic Life Sciences Inc. (PLI-T) says Health Canada has granted priority review status for the new drug submission (NDS) the company plans to file for its plasminogen replacement therapy for the treatment of patients with plasminogen deficiency.
"Priority review status is granted by Health Canada to a NDS for serious, life-threatening or severely debilitating diseases or conditions for which there is substantial evidence of clinical effectiveness that the drug provides," the company stated.
"We are pleased to have secured another priority review status for Ryplazim," said CEO Pierre Laurin.
Colabor Group Inc. (GCL-T) reported third-quarter sales of $319.3-million, down 5.8 per cent from $339.1-million for the same quarter a year earlier.
Its net loss was $18.8-million or 18 cents per share versus a profit of $2.7-million or 10 cents a year earlier.
ICC International Cannabis Corp. (ICC-X) says it has entered into a presales agreement with Mexico's Grupo Fénix for the sale of cannabidiol oil (CBD).
ICC will export to Grupo Fénix, for medicinal purposes, 10 per cent of its CBD oil production at prices to be determined. ICC said it expects to produce 1.2 million 30-millilitre bottles of CBD oil in 2018.
"This agreement represents a significant milestone for the CBD industry as well as for ICC," stated CEO Alejandro Antalich. "We are also excited about the potential of the Mexican market, which has a population of over 127 million people. We look forward to building a long-term relationship with our Mexican customers, along with the Mexican regulatory authorities."
Celestica Inc. (CLS-T; CLS-N) said it has appointed Mandeep Chawla as its chief financial officer, effective immediately.
Mr. Chawla has been Celestica's interim CFO since June and "was appointed following a search process that included both external and internal candidates," the company said.