Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Bonterra Energy Corp. (BNE-T) announced that president and CEO George Fink will be retiring from the role as of Sept. 6, but remain on the board. Patrick Oliver will be succeeding Mr. Fink as president and CEO and will be joining the board.
“Mr. Oliver has 35-plus years of experience in the Western Canada upstream oil and gas sector with a proven track record in the leadership of several companies from start-up to successful sale,” the company stated.
Mr. Fink has been the president and CEO since the company’s inception in 1998. He is the largest single shareholder in Bonterra, at 14 per cent plans to retain his share ownership interest in the company “at the present time,” the company stated.
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CGX Energy Inc. (OYL-X) and Frontera Energy Corp. (FEC-T), joint venture partners in the Petroleum Prospecting License for the Corentyne block offshore Guyana, announced an agreement to amend their joint operating agreement to farm into the Corentyne block and secure funding for the Wei-1 exploration well.
As part of the Agreement, CGX will transfer 29.7 per cent of its participating interest in the Corentyne block to Frontera in exchange for Frontera funding the joint venture’s costs associated with the Wei-1 exploration well for up to US$130-million and up to an additional US$29-million of certain Kawa-1 exploration well, Wei-1 pre-drill, and other costs.
CGX will also assign an additional 4.9 per cent of its participating interest in the Corentyne block to Frontera as consideration for the repayment of the outstanding principal amounts.
As a result of this agreement, CGX will have a 32 per cent participating interest and Frontera will have a 68 per cent participating interest in the Corentyne block.
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CloudMD Software & Services Inc. (DOC-X) announced a settlement agreement with the former owners of VisionPros following the previously announced review of the company’s acquisition of VisionPros, its online vision care platform.
The settlement reduces the purchase consideration paid for VisionPros by $14.6-million and also removes any future earnout payments, the company stated.
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The Real Brokerage Inc. (REAX-X) announced it has received final approval to list its common shares on the Toronto Stock Exchange.
“This uplisting is an important next step that will help increase our global visibility and offers a greater platform to expand our investor base,” stated chairman and CEO Tamir Poleg.
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Diamond Estates Wines & Spirits Inc. (DWS-X) announced Andrew Howard as its new president and CEO effective Aug. 1. He will succeed Murray Souter, who is retiring after nine years. Mr. Howard will also replace Mr. Murray on the company’s board.
Mr. Howard joined Diamond with the acquisition of the Equity Wine Group in 2021.
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