Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Ballard Power Systems (BLDP-Q; BLDP-T) says it has collaborated with Nisshinbo Holdings to develop the world's first proton exchange membrane (PEM) fuel cell product using a non-precious metal catalyst. Shares of the company surged nearly 25 per cent Wednesday, a three-year high, as the technology breakthrough would replace most of the high-cost platinum used in earlier design.
Nisshinbo and Ballard have jointly collaborated on the development of the product since 2013, the company said.
"We are delighted that this collaboration with Nisshinbo has enabled the development of an innovative breakthrough technology to reduce the amount of platinum in an air-cooled fuel cell stack by more than 80 per cent," said Kevin Colbow, Ballard's vice president of technology and product development.
Ballard said it was interested in exploring its use for various commercial applications.
In late-day trading, Ballard shares were up 24.7 per cent at $5.65.
BTB Real Estate Investment Trust (BTB.UN-T) says it's selling a property in Laval, Qué. for $2.6-million.
"The net proceeds will be mainly allocated to fund future accretive acquisitions in its strategic markets," the REIT said.
Evertz Technologies Ltd (ET-T) reported first-quarter revenue of $109-million up from $87-million a year earlier.
Net earnings were $13.2-million or 17 cents per share compared to $18.6-million or 25 cents a year ago.
Analysts were expecting revenue of $104.4-million and earnings of 27 cents.
Canopy Growth Corp. (WEED-T) has entered into a supply agreement with AusCann Group Holdings Ltd.
"Canopy Growth will act as AusCann's exclusive supplier of medical cannabis for the Australian market, beginning with the transfer of a range of medicines for research and commercialization in Australia," the company stated.
"The Australian market continues to present attractive growth opportunities for medical cannabis and through the company's minority ownership stake and excellent working relationship with AusCann, it is in a prime position to realize this potential for its shareholders."
Greece will grant Canada's Eldorado Gold Corp. (ELD-T) outstanding permits for its Olympias project this week, its Energy Minister George Stathakis said on Wednesday, according to Reuters.
Dozens of Eldorado Gold workers rallied outside the energy ministry in Athens on Wednesday to protest against potential job losses after the Canadian company threatened to suspend investment at its Greek mines, demanding permits and clarifications on an upcoming arbitration process.
"Licencing for Olympias...will be concluded in the coming days, today and tomorrow," Stathakis said. "Three permits will be issued as we announced in August, allowing Olympias to be fully operational."
Stathakis added that issues in the dispute over Eldorado's Skouries project and a metallurgical plant will be discussed during an arbitration process which is starting on Wednesday.
The process is expected to last until December.
Helius Medical Technologies, Inc. (HSM-T) says its NeuroHabilitation Corp. subsidiary has extended its cooperative research and development agreement with the U.S. Army Medical Research and Materiel Command through to 2018.
It has also extended the deadline for commercialization of its Portable Neuromodulation Stimulator (PoNS), which is in clinical trials for the treatment of balance disorder for people with brain injuries, to Dec. 31, 2021.
"We are pleased to formally extend our development partnership with the U.S. Army, and the commitment to explore other war-fighter indications for the PoNS™ Therapy upon FDA clearance," said Philippe Deschamps, CEO of Helius, in a release.