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Clarusvisus/Getty Images/iStockphoto

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Concordia International Corp. said it is taking the next step to realign its capital structure by commencing proceedings under the Canada Business Corporations Act. Shares of the company plunged 30 per cent in early TSX trading.

In a statement, it said it is seeking to reduce its existing secured and unsecured debt obligations by more than $2 billion. It intends to continue operating its business as usual during CBCA proceedings​. The company had approximately $340 million of cash on hand as of September 30, 2017​. Some ‍payments owed to unsecured lenders will not be paid as scheduled & are expected to be addressed as part of recapitalization.

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The proposed recapitalization transaction may result in dilution of outstanding common shares of company.

Under the CBCA process, Concordia's management will continue to lead day-to-day operations​ Source text for Eikon: Further company coverage.

***

AGF Management Ltd. (AGF.B-T) says the company, Westwood Holdings Group Inc., Patricia Perez-Coutts and "a number of related parties" have resolved the AGF and Westwood actions arising from the simultaneous resignations of Ms. Perez-Coutts and four other employees of AGF in 2012, who left to join Westwood.

AGF said Westwood has made a "substantial payment" to the company to resolve these matters. "Neither party admitted liability, nor any of the allegations in any of the actions," the companies said.

AGF CEO and chairman Blake Goldring and Westwood CEO Brian Casey "both believe the resolution is fair and reasonable and in the best interests of their companies and shareholders," according to a release. "They are pleased to put these matters behind them. The settlement does not materially impact the operations of either party and is not anticipated to affect their clients."

**

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Excellon Resources Inc. (EXN-T) is raising $10-million in a bought-deal financing.

The company has an agreement with a syndicate of underwriters to buy 5 million units at $2 each.

The company said it intends to use the net proceeds to fund exploration at its Platosa Project in Durango and Miguel Auza project in Mexico and for general corporate purposes.

**

Genesis Land Development Corp. (GDC-T) says it has an agreement with an arms-length third party builder for the sale of undeveloped land in the community of Sage Hill in Calgary for $11.3-million.

**

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Artis Real Estate Investment Trust (AX.UN-T) issued a release acknowledging an announcement by Ron Joyce that he has a 10-per-cent ownership position in the REIT.

"Mr. Joyce is a long time investor in Artis and we welcome his increased ownership participation," stated CEO Armin Martens. "I wish to express our gratitude for his public expression of support for our vision and long-term strategic direction and his confidence in us as we create economic value for all unitholders through active investment and management of a diversified portfolio in Canada and select U.S. markets."

**

NioCorp Developments Ltd. (NB-T) says its CEO and executive chairman Mark Smith is increasing his personal stake in the company by providing $180,000 (U.S.) in funding under an existing credit facility. The funding will help to accelerate NioCorp's ongoing Elk Creek project finance efforts, the company said.

"The effort to secure project financing sufficient to move the Elk Creek Project to a construction start is progressing well, but we want to accelerate and intensify those efforts, and this funding will help the Company in this regard," said lead director Joseph Carrabba.

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Blackbird Energy Inc. (BBI-X) appointed Karen Minton as chief financial officer, effective immediately.

Prior to her appointment, Ms. Minton was CFO of Lighthouse Oil and Gas.

"In order to allow for the appointment of Ms. Minton, Mr. Ron Schmitz will step down as Blackbird's interim chief financial officer and will continue to serve on Blackbird's board of directors," the company said.

**

Maricann Group Inc. (MAR-CN) says company insiders have agreed to purchase $7-million of convertible debenture units in its previously announced private placement offering.

It also reported a construction delay in the flowering area of the expansion of its facility in Langton, Ont. "caused by groundwater encountered during the build." The construction delay is expected to cost $765,000, which is a 2.5 per cent cost overrun for the expansion.

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The company also said its CEO Ben Ward has taken a leave of absence until Nov. 13 to address a personal health issue. President Terry Fretz has assumed his duties on an interim basis.

**

With files from Reuters

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