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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.
Liberty Health Sciences Inc. (LHS-CN) says it's buying 242 Cannabis, LLC, a Florida limited liability company, which includes a 387-acre parcel of land in Gainesville.
The property includes more than 200,000 square feet of greenhouses, head houses, tissue culture lab and processing facilities, the company said.
"With this acquisition, we're accelerating our aggressive growth strategy to more quickly meet the increasing demand for high-quality medical cannabis in Florida," said George Scorsis, CEO of Liberty. "Bringing this additional capacity to the market sooner represents another important milestone in our unwavering commitment to serving Florida's patients in need."
The proposed acquisition will be completed through a series of transactions. The company will issue 18 million units, including one common share issued at a price of $1.64 and one-half common share purchase warrant. The company says it will also receive a cash balance of up to $17.3-million in 242 Cannabis.
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Patriot One Technologies Inc. (PAT-X) says it's raising $17.4-million in a bought-deal financing. It has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity to buy 8.7 million units at $2 each.
The company said it intends to use the net proceeds to fund its international expansion, speed up deployment of its technology and for working capital purposes.
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Superior Plus Corp. (SPB-T) says its Superior Plus LP subsidiary has an agreement with a syndicate of underwriters to sell $220-million in senior unsecured notes through a private placement.
The net proceeds will be used to reduce the outstanding balance under Superior LP's revolving credit facility, the company said.
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Kuuhubb Inc. (KUU-X) says its plans to acquire German-based, blockchain-enabled mobile e-sports platform developer Valiance UG. The platform is designed to support both mobile e-sports competitors and content creators and "provides them with opportunities to monetize their involvement playing e-sports titles they love," the company stated.
"Kuuhubb's strategy to acquire, partner, build and globally grow under-appreciated mobile gaming assets continues to gain traction," stated CEO Jouni Keränen in a release. "Adding Valiance to our portfolio offers Kuuhubb entry via acquisition into mobile e-sports gaming, the fastest growing segment of the multi-billion dollar e-sports industry."
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Nevsun Resources Ltd. (NSU-T; NSU-A) says it will suspend its dividend to redeploy the capital to its Timok copper-gold project in Serbia.
"Nevsun has determined that the development of the Timok Upper Zone represents, by far, the company's best allocation of capital," the company stated.
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