Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Maxim Power Corp. (MXG-T) said it will receive $20-million in grant funding for its Milner 2 Combined Cycle Gas Turbine expansion project.
The project “captures waste heat that would otherwise exhaust into the atmosphere and will turn it into useful low-carbon electricity for the Alberta power grid,” the company stated.
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True North Commercial Real Estate Investment Trust (TNT-UN-T) announced it has agreed to acquire a 174,000-square-foot office property in downtown Ottawa for approximately $40.5-million.
The REIT said it plans to pay for the purchase through a combination of first mortgage financing of approximately $30.4-million and interim financing from its secured credit facility.
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NexGen Energy Ltd. (NXE-T; NXE-N) announced that the Canadian Nuclear Safety Commission (CNSC) has accepted the company’s draft Environmental Impact Statement (EIS) for its Rook I Project in Saskatchewan’s southwestern Athabasca Basin.
The acceptance marks the formal start of the 90-day period during which the CNSC will coordinate both the federal technical and public review of the draft EIS, the company stated.
The acceptance “is a significant step, transitioning the project into the federal EIS technical and public review phase, incorporating rigorous and transparent provincial and federal EA [environmental assessment] review processes,” stated CEO Leigh Curyer.
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Endo International plc (ENDP-Q) announced that its subsidiary Endo Ventures Limited has entered into agreements with Quoin Pharmaceuticals Inc. for the development, registration, supply, commercialization and distribution of QRX003 on an exclusive basis in Canada.
“If the product is approved, Paladin Labs Inc., an operating company of Endo, will be responsible for all commercial activities in Canada,” the company stated.
QRX003 is Quoin’s lead product for Netherton syndrome, a form of ichthyosis, a rare hereditary skin disorder. There is currently no cure or satisfactory treatment option available for Netherton syndrome, the company stated.
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Conifex Timber Inc. (CFF-T) announced a delay in the resumption of operations at its power plant in Mackenzie, B.C., after discovering damage to the turbine. Conifex stated that it’s working with its contractors to assess the damages and the required work plan.
“Until such assessment and plan are completed, there can be no assurance as to when the power plant will recommence operations, however Conifex does not currently anticipate the power plant to be operational during the third quarter of 2022,” it stated, adding that the delay is not expected to impact sawmill operations or Conifex’s power plant employees.
Conifex said it has property and business interruption insurance for the power plant.
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