Skip to main content
Canada’s most-awarded newsroom for a reason
Enjoy unlimited digital access
$1.99
per week
for 24 weeks
Canada’s most-awarded newsroom for a reason
$1.99
per week
for 24 weeks
// //

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

iAnthus Capital Holdings, Inc. (IAN-C) announced that its U.S. subsidiary has entered into a letter of intent to acquire CBD For Life, a national cannabidiol (CBD) brand in the U.S. launched in February 2016.

iAnthus expects to acquire CBD For Life for about 2.5 million common shares of iAnthus, or about US$13.7-million. At the closing of the transaction, iAnthus also expects to repay the outstanding debt and related accrued interest of CBD For Life of about US$2-million in cash.

Story continues below advertisement

"Developing a strong CBD strategy is mission critical for cannabis companies to compete on a national scale while simultaneously entering the consumer product and retail marketplace," said Hadley Ford, CEO of iAnthus. "With the acquisition of a name brand like CBD For Life, iAnthus is well positioned to increase our market share with greater exposure to patients and customers across the country."

**

Akumin Inc. (AKU-T) reported fourth-quarter revenue of $45.5-million up from $35.2-million a year earlier. Analysts were expecting revenue of $47.9-million. Adjusted EBITDA was $9.2-million or 5 cents per share versus $8.3-million or 7 cents a year ago.

**

A group led by Mangrove Partners and Bluescape Energy Partners, describing themselves as “together one of the largest shareholders” with about 10 per cent of TransAlta Corp. (TA-T; TAX-N), issued a release to raise “significant questions about the company’s decision to accept a large investment from Brookfield Renewable Partners.” The shareholder group cited “ithe rushed process coinciding with the proxy nomination deadline, the favorable valuation and terms given to Brookfield, and the deal’s implications for the future accountability of TransAlta’s Board and management to shareholders.”

"TransAlta's announcement and subsequent disclosures of the Brookfield investment leave many important questions unanswered," stated Nathaniel August, president and portfolio manager at Mangrove Partners. "Most critically, is it the best deal for TransAlta shareholders or are there potentially superior transactions available?"

**

Story continues below advertisement

Charlotte’s Web Holdings, Inc. (CWEB-C) reported revenue of US$21.5 million in the fourth quarter, which was in line with expectations and compared to US$12.6-million for the same time a year earlier. Net income was US$3.2-milion or 2 cents per share versus US$2.4-million or 3 cents a year earlier. Adjusted EBITDA decreased from 37 per cent to 20 per cent of consolidated revenue, “due to extraordinary items,” the company stated.

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow the author of this article:

Follow topics related to this article:

View more suggestions in Following Read more about following topics and authors
Report an error Editorial code of conduct
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

If you do not see your comment posted immediately, it is being reviewed by the moderation team and may appear shortly, generally within an hour.

We aim to have all comments reviewed in a timely manner.

Comments that violate our community guidelines will not be posted.

UPDATED: Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies