Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Ag Growth International Inc. (AFN-T) announced a $75-million offering of convertible unsecured subordinated debentures.
It has an agreement with a syndicate of underwriters led by CIBC Capital Markets, National Bank Financial and TD Securities Inc. for the offering.
The company said the net proceeds will be used to redeem outstanding convertible unsecured subordinated debentures due Dec.31, 2018
"The transaction involves the issuance and sale of single-family rental pass-through certificates representing beneficial ownership interests in a loan secured by a portion of TAH's portfolio of single-family rental properties," the company stated.
Its adjusted net loss was 7 cents per share, the same as last year.
CanniMed Therapeutics Inc. (CMED-T) says it has entered into a definitive agreement with PharmaChoice to supply herbal, oils and oil-derivative cannabis products to its more than 750 pharmacy locations across Canada.
The Saskatoon-based company says PharmaChoice has committed exclusively to CanniMed as its sole supplier of cannabis products, subject to CanniMed meeting certain product and volume requirements.
Earlier this year, CanniMed signed a letter of intent with member-owned co-operative PharmaChoice to be its exclusive medical cannabis distributor and to train its pharmacists and pharmacy technicians.
The company says its deal with PharmaChoice is still conditional on Health Canada's approval of medical cannabis product distribution through pharmacies.
-The Canadian Press
Its net loss was $10.4-million or 7 cents per share compared to a net loss of $14.7-million or 14 cents a year ago. Analysts were expecting a loss of 4 cents and revenue of $31.5-million.
UEX said it has completed the required $1-million property payment to JCU (Canada) Exploration Co. Ltd. UEX said it has made cumulative property payments of $5-million and conducted approximately $7.8-million in exploration activities on the project as of Oct. 31.
UEX said it plans to reach a 60-per-cent ownership interest in the Christie Lake Project by the end of 2018 and is on track to earn 70-per-cent interest.
"Partnering with Fatburger Canada signifies our ability to provide quick serve locations a mobile solution, incorporating both pre-order and payment with loyalty and rewards, in a fraud-protected, seamless transaction," stated Glance CEO Desmond Griffin.
Western Forest Products Inc. (WEF-T) says it's acquiring a lumber processing and distribution centre in Arlington, Wash. for $9-million (U.S.).
"This acquisition is a natural fit for Western as it allows us to increase the production of targeted, finished products while also providing a centralized warehousing and distribution centre to more effectively service our selected U.S. customers," said CEO Don Demens in a release.