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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Pure Multi-Family REIT LP (RUF.UN-X) is buying La Villita, a multi-family apartment community in Irving, Texas for $48.8-million (U.S.).
Pure Multi-Family said it intends to fund a portion of the purchase price of La Villita with cash from its equity financing completed in April and new first mortgage financing.
"With the acquisition of La Villita, we are adding another great asset to our very strong Dallas portfolio," said CEO Stephen Evans in a release. "We plan to continue to implement our prudent balance sheet management strategy in this transaction by using approximately 50 per cent loan-to-value mortgage financing."
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Emerald Health Therapeutics Inc. (EMH-X) and Village Farms International, Inc. (VFF-T) announced a joint-venture agreement for "large-scale, high-quality, low-cost cannabis production."
The agreement sees Village Farms contribute a 1.1-million square foot greenhouse facility located on a 50-acre parcel of land in Delta, B.C.
Emerald will initially contribute, in multiple stages, $20-million in cash to fund the conversion of the initial greenhouse.
Each party will have a 50-per-cent ownership stake in the joint venture.
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Currency Exchange International, Corp. (CXI-T) reported second-quarter revenues of $7.2-million (U.S.), up from $5.9-million a year earlier.
Net income increased to $625,000 or 9 cents per share from $480,000 or 8 cents a year earlier.
Analysts were expecting revenue of $6.5-million and earnings of 7 cents.
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Home Capital Group Inc. (HCG-T) provided an update on its current financial position as of June 5.
It said aggregate available liquidity and credit capacity stood at approximately $1.09-billion, versus $1.06-billion the day before.
Its Home Trust High-Interest Savings Account deposit balances stood at approximately $107.1-million, similar to the day before.
Total Guaranteed Investment Certificate deposits stood at approximately $12.13-billion, similar to the day before.
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Mediagrif Interactive Technologies Inc. (MDF-T) said fourth-quarter revenues increased by 6 per cent or $1.2-million to reach $20-million when compared to the fourth quarter of fiscal 2016.
Profit came in at $3.6-million or 24 cents per share compared to $2.5-million or 16 cents per share during the fourth quarter of fiscal 2016.
Analysts were expecting revenue of $19.85-million and profit of 27 cents per share, according to S&P Capital IQ.
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Marijuana financier Cannabis Wheaton Income Corp. (CBW-X) hired a new investment dealer Tuesday to raise $50-million for the company, resurrecting a much-watched deal that features the company's lawyer and former bankers as significant personal shareholders.
Cannabis Wheaton hired Toronto-based Mackie Research Capital Corp. to sell securities in a transaction that is expected to close by June 21, after announcing on Monday that it cut ties with investment banks Eight Capital and Canaccord Genuity Corp. on a planned $80-million offering.
Employees of Eight Capital and Cannacord own approximately 8 per cent of Vancouver-based Cannabis Wheaton. The company's lawyer, Hugo Alves at law firm Bennett Jones LLP, is also a shareholder; Mr. Alves declined to comment on how much stock he owns.
Cannabis Wheaton's legal and former financial advisers are among the insiders who purchased stakes in the company for pennies a share earlier this year. Cannabis Wheaton stock closed Tuesday at $1.13 on the TSX Venture Exchange.
--Andrew Willis
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North American Palladium Ltd. (PDL-T) announced a "substantial increase" in total tonnes and ounces to be produced its the Lac des Iles Mine in Ontario following a feasibility study.
"The economics are robust with an all-in sustaining cost of $527 (U.S.) per ounce, an EBITDA [earnings before interest, taxes, depreciation and amortization] of just over $1-billion and positive free cash flow over the entire life of mine totalling $678-million," the company said.
The life-of-mine plan starts on July 1 and includes continuous production from the Lac des Iles Mine for 9.5 years, the company said.
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Harte Gold Corp. (HRT-T) is raising $20-million in a bought-deal private placement.
It has an agreement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. to buy 32 million shares at 62 cents each.
The proceeds will be used to develop the company's Sugar Zone Property and for exploration.
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