Skip to main content

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

Paramount Resources Ltd. (POU-T) announced the sale of its Karr 6-18 natural gas facility and related midstream assets for about $330-million plus a $140-million capital commitment to fund and complete the associated expansion of the facility, D2, bringing the total transaction value to $470-million. The buyer is CSV Midstream Solutions Corp.

“CSV Midstream will assume operatorship of the 6-18 Facility at closing and complete the construction of D2, which is currently in-progress and scheduled to be commissioned in the second half of 2020,” the company stated.

Story continues below advertisement

**

Canfor Pulp Products Inc. (CFX-T) announced it will be implementing phased summer curtailments in July and August at its Intercontinental and Northwood NBSK pulp mills in Prince George, B.C. “due to a significant deterioration in market conditions, in combination with fibre-supply constraints and higher fibre costs resulting from recent sawmill curtailments across the B.C. industry.”

The company said the curtailments will reduce Canfor Pulp’s production output by approximately 75,000 tonnes of NBSK pulp and that it intends to resume full production at Intercontinental and Northwood in September.

**

Tree Island Steel Ltd. (TSL-T) announced it has been advised of the intention of The Futura Corp. and Arbutus Distributors Ltd., entities controlled by certain directors of the company, to make an unsolicited non-binding proposal to buy the company for $2.25 per share in cash. “A binding proposal has not yet been made to the company or its shareholders,” the company stated. The stock closed at $2 on Thursday.

**

Pulse Seismic Inc. (PSD-T) announced it has completed a $7-million sale of 3D seismic data, which it said is a “transaction-based obligation along with a new licence for additional 3D data.”

Story continues below advertisement

“We are extremely pleased by this transaction, which clearly supports the business case for Pulse’s January 2019 purchase of Seitel Canada Ltd.,” stated CEO Neal Coleman. “Transaction-based sales have become a significant component of our data library licensing business in recent years, and we continue to believe that our acquisition will help grow and potentially smooth Pulse’s annual revenues over time.”

**

Cascades (CAS-T) announced it has won the auction to acquire certain of the assets of Orchids Paper Products in proceedings before the United States Bankruptcy Court for the District of Delaware. The transaction, which will be completed for a cash consideration of US$207-million, will cover most assets including the Barnwell, South Carolina and Pryor, Oklahoma operations, as well as certain equipment and various of Orchid’s Paper commercial arrangements with Fabrica de Papel San Francisco, S.A. de C.V., based in Mexicali, Mexico.

“The acquisition will allow Cascades to accelerate the modernization of its tissue asset base, reduce sub-contracting and transportation costs, and increase its geographical footprint to better serve its customers,” it stated.

**

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
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

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter