Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Pulse Seismic Inc. (PSD-T) reported second-quarter revenue of $1.9-million, a decrease of 34 per cent from $2.9-million for the same period last year. Its net loss was $1-million or 2 cents per share, which was in line with expectations, versus a net loss of $2.4-million or 4 cents per share a year earlier.
Pretium Resources Inc. (PVG-T) says it has negotiated a non-brokered private placement consisting of 227,273 flow-through common shares at a price of $13.20 each for gross proceeds of approximately $3-million.
The proceeds will be used to fund exploration about 20 km east of the company's Brucejack Mine, the company said.
Hamilton Thorne Ltd. (HTL-X) says it has acquired the Zandair line of air purification equipment and related consumables and services business from Zander Scientific, Inc. about $640,000 in cash. It said the purchase price is equal to approximately 1.15 times 2017 sales attributable to the business and 4 times 2017 EBITDA.
Aeroplan aims to get into the airline business by offering charter flights to its most popular destinations as the loyalty program prepares for the end of its exclusive partnership with Air Canada in 2020.
"We have routes where we have enough redemption demand today that we can fly a daily charter throughout the year on some particular routes," Jeremy Rabe said in his first media interview since taking over in May as CEO of parent company Aimia Inc. (AIM-T)
"Those will be dedicated Aeroplan aircraft that are flying just for Aeroplan."
Aimia is in negotiations with potential airline partners to operate narrowbody aircraft ideally suited for flights to sun destinations in the Caribbean.
Details about the number of planes, their outside look and configuration will be announced in the next year or so, Rabe told The Canadian Press.
Detour Gold Corp. (DGC-T) announced what it described as "the next steps in its ongoing plan to grow long-term shareholder value," following its updated life-of-mine-plan, including adding two new directors in the near term. In a release on Friday morning, the company also provided more background on a special committee that has been "evaluating potential value creating opportunities."
"Further enhancing our board with additional operational expertise and providing shareholders with background on our special committee demonstrates that the board has always been, and remains, committed to creating long-term value for all shareholders," the company stated.
The release comes after a war of words broke out earlier this week between Detour and Paulson & Co., where the Canadian miner accused the New York-based hedge fund of making misleading statements about it – and potentially breaking securities laws.
National Access Cannabis Corp. (META-X) says it has entered into a loan agreement "and connected collateral documents" with Opaskwayak Cree Nation. The company said OCN will lend it up to $35-million and the company plans to use the proceeds to build-out 50-to-70 cannabis retail locations across Western Canada.
“This financing enables NAC to fund the build-out of its recreational cannabis retail locations across Western Canada, in order to open in time for cannabis retail legalization on October 17th and capture market share throughout the end of 2018,” said Mark Goliger, CEO of NAC, in a release.
It said the loan has a six-month term and carries an interest rate of 10 per cent per year. OCN will receive a commitment fee of $1.6-million to $3-million, “depending on repayment circumstances.”
With a file from The Canadian Press