Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
H.E.S. has been a Savaria dealer for five years and is expected to deliver net sales of approximately US$2.8 million and EBITDA of about US$300,000, the company said.
“This latest transaction complements our asset purchase of luxury elevator maker Visilift in Colorado, and will help strengthen our direct sales and installation presence in a market featuring beautiful custom mountain homes,” stated CEO Marcel Bourassa.
“The term sheets both provide for five-year term debt facilities... which will be secured against the underlying conventional farmland first lien mortgages entered into by Input in conjunction with its mortgage stream program,” the company stated in a release. “These facilities will allow Input to margin mortgage streams, reducing the net capital required by Input to originate them.”
22NW Fund, LP, which says it owns 3 per cent of Aimia Inc. (AIM-T) is calling for a shakeup of the Aimia board at the next annual general meeting of shareholders on April 27.
“We intend to withhold our votes for all of Aimia’s legacy board members,” stated Aron English, manager of 22NW Fund stated in a release. “We believe the abysmal performance of Aimia’s stock as well as the repeated incompetence demonstrated by Aimia’s legacy Board members speaks for itself and should be obvious to all shareholders.”
Seattle-based 22NW also said it believes the board is “single-handedly responsible for the company’s unnecessary and completely avoidable value destruction and must not be re-elected at the AGM to prevent further destruction in shareholder value.”
Liberty Health Sciences Inc. (LHS-CN) says it will open its second medical cannabis dispensary in Florida. “The opening of our second Florida dispensary demonstrates our ongoing commitment to expand our footprint in the state, making it more convenient for Floridians to access high-quality medical cannabis,” said CEO George Scorsis.
NexGen Energy Ltd. (NXE-T, NXE-A) says vice-president of exploration, Garrett Ainsworth, and corporate secretary Joanna Cameron “have mutually agreed to conclude their employment relationship with the company,” effective April 15.
Maricann Group Inc. (MARI-CN) says it has a “definitive agreement” to buy Haxxon AG of Switzerland. “The acquisition of Haxxon forms a critical element of the company’s European expansion strategy,” Maricann stated. “When complete, the acquisition will allow Maricann to enter the Swiss market through Haxxon’s production of feminized high CBD [cannabidiol] cannabis plants.”
Haxxon is being acquired for about $2.6-million (2 million Swiss francs) in cash and $7.8-million (6 million Swiss francs) worth of common shares of the company, Maricann stated.
Baylin Technologies Inc. (BYL-T) says its subsidiary, Advantech Wireless Technologies Inc., has received a “large follow-up order” for its technology-based Block Up Converters (BUCs) for Military Satellite Terminals.
“Based on the results they have experienced with the same product from a previous order, an existing customer has placed a further order that will multiply their business with us”, said Baylin CEO Randy Dewey in a release.