Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Altius Minerals Corp. (ALS-T) says it and Royal Gold Inc. (RGLD-Q) have entered into an agreement with Vale Canada Limited to settle litigation related to royalties from the Voisey’s Bay mine in Newfoundland and Labrador.
The Voisey’s Bay 3-per-cent net smelter return royalty is directly owned by the Labrador Nickel Royalty Limited Partnership, of which Altius is a 10-per-cent owner. The remaining 90-per-cent interest in LNRLP is owned by a subsidiary of Royal Gold.
“The parties agreed to a new method for calculating the royalty in respect of concentrates processed prospectively at Vale’s Long Harbour Processing Plant, which will be effective for all Voisey’s Bay mine production after April 1, 2018,” the release states.
Altus CEO Brian Dalton stated: “We are pleased to have reached this settlement which results in the continuation of royalty payments and provides clarity on how these will be calculated throughout the future of operations at the world-class Voisey’s Bay nickel-copper-cobalt mine. The new calculation methodology maintains the estimated future value of the royalty within a range that is consistent with estimates and assumptions we would have made before the dispute issues emerged.”
Cineplex Inc. (CGX-T) announced a strategic partnership with VRstudios, Inc., a virtual reality company. The agreement includes a commercial partnership and an investment by Cineplex to acquire a significant ownership interest in VRstudios. The financial terms were not disclosed.
"We are not just deploying VR across our network, we are strategically investing in the market to create new revenue streams as well as critical mass and scale for growth. We are proud to be leading the way in the burgeoning location-based VR market," said Ellis Jacob, CEO, Cineplex.
Newstrike Brands Ltd., (HIP-X) the cannabis producer partly owned by The Tragically Hip, is exploring a sale and has approached several other marijuana companies about a possible tie-up, a sign the crowded Canadian pot sector is set to begin a fresh round of consolidation, people directly familiar with the situation told BNN Bloomberg.
Toronto-based Newstrike has reached out to at least four cannabis companies in the past month, the sources told BNN Bloomberg.
Organigram Holdings Inc. (OGI-X) says it has signed a term sheet to participate 50 per cent in a $10-million private placement debenture offering by Eviana Health Corp. The transaction includes 10,000 debenture units, each consisting of: (i) $1,000 principal amount of senior unsecured convertible debentures of Eviana and (ii) one half of one common share purchase warrant of the company. “The balance of the Debenture Offering is proposed to be acquired by an institutional strategic investor,” the company said.
“Emblem looks forward to maintaining its strong business relationship with the Natura team as both a shareholder and in connection with our existing 3,000 kg supply agreement in the coming years,” said Nick Dean, CEO of Emblem Corp.
iAnthus Capital Holdings, Inc. (IAN-CN) says it plans to raise $30-million in a bought-deal financing. It has an agreement with a syndicate of underwriters led by GMP Securities L.P. to buy 4.5 million shares at $6.65 each. The stock closed at $7.65 on Thursday.
Wall Financial Corporation (WFC-T) recorded second-quarter net earnings of $9-million or 26 cents per share versus $6.9-million or 20 cents last year. Revenue was $254.4-million versus $132.9-million a year ago.
Liberty Gold Corp. (LGD-T) announced an amended agreement with a syndicate of underwriters led by Sprott Capital Partners, a division of Sprott Private Wealth LP. The underwriters have agreed to purchase 25 million unit of the company at 40 cents each to raise $10-million.
Each Unit includes one Liberty common share and one common share purchase warrant exercisable at a price of 60 cents for three years.