Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Transcontinental Inc. (TCL.A-T; TCL.B-T) announced that it’s phasing down the printing activities of Transcontinental LGM – Coronet in Winnipeg, in anticipation of the complete closure of the facility on Jan. 31, 2021. The decision will result in the permanent layoff of 110 employees, the company said.
It said operations will be transferred “gradually over the next few months” mainly to Transcontinental RBW Graphics in Ontario and Transcontinental Calgary in Alberta.
“In order to protect the long-term financial health of our sector, our teams are constantly working to align the capacity and costs of our printing platform with our business volumes,” said Brian Reid, president of TC Transcontinental Printing.
“In light of the bullish outlook for silver, we see the acquisition of an investment in ESV as a tremendous opportunity to participate in a new vehicle that is turning its attention to becoming a silver focused company looking to offer its shareholders exposure and leverage to the precious metal,” stated Serafino Iacono, executive chairman of Gran Colombia. “We also see the spin out of our interest in the Zancudo Project as an opportunity to create value for our shareholders in this undervalued silver-gold asset.”
ESV will issue 27 million common shares to Gran Colombia in exchange for its interest in the Zancudo Project.
Gran Colombia said it will also subscribe for $3-million of subscription receipts in a non-brokered private placement being completed concurrently by ESV.
BSR Real Estate Investment Trust (HOM.UN-T) announced it has acquired Aura Castle Hills Apartments in Lewisville, Texas for $51.8-million. The company said the transaction was funded through its credit facilities and is expected to be immediately accretive to its adjusted funds from operations on a per unit basis.
CloudMD Software & Services Inc. (DOC-X) announced plans to buy mental health digital platform Snapclarity Inc. by way of a “three-cornered amalgamation” for $3.35-million, subject to certain holdbacks. It said the sum includes $975,000 in cash and up to $2.375-million in common shares to be issued at 70 cents each.
CloudMD says the deal makes it “one of the only telemedicine companies in North America that can provide both digital primary care solutions integrated with digital mental health care plans.”
ATS Automation Tooling Systems Inc. (ATA-T) announced it has a conditional agreement to sell certain assets and transfer employees of one of its German-based subsidiaries to a third party.
Completion of the sale is subject to several closing conditions, it stated. “If the transaction does close, it is expected to partially mitigate costs of the previously announced reorganization of its transportation business,” it said, adding that financial terms of the transaction aren’t being disclosed.
Its net loss was $1.8-million or 4 cents per share versus a loss of $2.2-million or 5 cents a year ago. Analysts were expecting a loss of 6 cents.
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