Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Celestica Inc. (CLS-N; CLS-T) says it has a definitive agreement to acquire U.S.-based Atrenne Integrated Solutions Inc., a designer and manufacturer of "ruggedized electromechanical solutions serving multiple markets, primarily for military and commercial aerospace applications."
"This acquisition will advance our strategic direction to expand our capabilities, improve our diversification and bolster our leadership position within aerospace and defense," said Rob Mionis, CEO of Celestica. "Our goal is to broaden our comprehensive portfolio of end-to-end product lifecycle solutions across all of the markets we serve to deliver enhanced value to our customers."
Celestica says it's buying Atrenne on a "cash-free and debt-free basis" for $139-million (U.S.).
Separately, the company also reported fourth-quarter revenue of $1.56-billion (Canadian), which it says is compared to a previously provided guidance range of $1.5-billion to $1.6-billion, and down 4 per cent compared to the fourth quarter of 2016.
Earnings were 10 cents per share, compared to 15 cents per share for the fourth quarter of 2016, based on IFRS. Non-IFRS were 27 cents per share in the quarter, compared to its previously provided guidance range of 27 cents to 33 cents per share, and 41 cents per share for the fourth quarter of 2016.
Analysts were expecting revenue of $1.56-billion and non-IFRS earnings of 30 cents per share.
After markets closed on Wednesday, Newstrike said It has a revised agreement with a syndicate of underwriters co-led by Infor Financial Inc. and Cormark Securities Inc. to buy 60.6 million units at $1.32 each. That's up from a previous announcement on Wednesday that it was raising $50-million.
"The company intends to use the proceeds of the offering to fund strategic growth opportunities and for general and corporate purposes," it stated.
Morguard North American Residential Real Estate Investment Trust (MRG.UN-T) says it's raising $70-million.
It announced an agreement with a syndicate of underwriters, co-led by RBC Capital Markets and TD Securities Inc. to purchase $70-million in convertible unsecured subordinated debentures. As part of the transaction, Morguard Corp. has agreed to purchase $5-million of the debentures being offered.
The REIT said it intends to use the net proceeds to fund the redemption of other convertible unsecured subordinated debentures, as well to fund future acquisitions, for debt repayment and for general trust purposes.
Endo International plc (ENDP-Q) says it has agreed to a request by the U.S. Food and Drug Administration (FDA) to seek a temporary stay of the litigation the company initiated against the FDA in October.
"Endo brought this lawsuit because FDA violated the DQSA [Drug Quality and Security Act] by issuing an improper 'Interim Policy' and by listing vasopressin as a 'Category 1' substance that outsourcing facilities could use in bulk compounding under Section 503B," the company stated. "FDA's recent public statements indicate that it is now taking steps to comply with the DQSA and that it plans to announce further details by the end of March 2018."
Novagold Resources Inc. (NG-T) reported a loss of $10-million in the fourth quarter compared to a loss of $7.4-million for the comparable period in 2016. "The increase in net loss primarily resulted from higher equity losses from Donlin Gold due to the 2017 drilling program," the company said in a filing on Sedar.
Reliq Health Technologies Inc. (RHT-X) says it has signed an agreement with True Life Home Health LLC in Texas to provide Reliq's iUGO Care chronic care management, remote patient monitoring and telemedicine platform to their more than 2,000 home care clients.
The company said the contract will generate over $1.2-million (U.S.) in recurring annual revenue at full deployment. Patient enrolment will begin in February 2018.
Namaste, through its wholly-owned subsidiary, Cannmart, has committed to purchase 1000 kilograms of premium quality medical cannabis from Supreme's 7ACRES subsidiary in 2018, starting when Cannmart becomes a licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
"This agreement represents a significant milestone for Namaste, as its first commitment to a volume purchase of medical cannabis," the company stated. "Namaste believes that Supreme's business plan of scaled production of branded, premium cannabis flower aligns itself well with Namaste's goal of positioning Cannmart as Canada's largest online retail e-commerce platform for medical cannabis. "
ICC Labs Inc. (ICC-X), a licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay, says the Republic of Colombia has granted its subsidiary two licenses.
"One license permits ICC Labs to cultivate non-psychoactive cannabis plants to produce various medicinal cannabis-based products for domestic and international distribution. The second license permits ICC Labs to obtain cannabis seeds under the Colombian regulatory regime and use such seeds for its operations. ICC Labs' Colombian licenses are each valid for a period of five years and are renewable upon request within three months' of expiration," the company stated.