Skip to main content
The Globe and Mail
Get full access to globeandmail.com
Support quality journalism
Just $1.99 per week for the first 24weeks
Just $1.99 per week for the first 24weeks
The Globe and Mail
Support quality journalism
Get full access to globeandmail.com
Globe and Mail website displayed on various devices
Just$1.99
per week
for the first 24weeks

var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){console.log("scroll");var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))}pencilInit(".js-sub-pencil",!1);

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

TransAlta Corp. (TA-T; TAC-N) announced a 6.25-per-cent increase to its quarterly dividend to 4.25 cents per share quarter, payable on April 1 to shareholders of record at the close of business on March 2.

The company also announced that, following the retirement of board chair Gordon Giffin at the upcoming annual shareholder meeting, John Dielwart will be appointed board chair pending his re-election to the board.

Story continues below advertisement

TransAlta also announced its financial outlook and environmental, social and governance targets for 2020, which it stated are "highlighted by the addition of recently commissioned projects and productivity improvements, which are expected to drive strong comparable EBITDA and free cash flow performance in 2020."

**

Valens GroWorks Corp. (VLNS-X) announced that it has obtained eligibility from the Depositary Trust Company for its shares traded on the OTCQX, under the symbol “VLNCF.”

“Executing on our milestone of obtaining DTC eligibility demonstrates Valens’ commitment to increased visibility and accessibility for shareholders moving into fiscal 2020,” stated Valens CEO Tyler Robson. “Access to DTC’s platform not only brings us closer to increasing trading volume and liquidity in the United States, but also allows us to reach new investors in larger markets who now can invest in our evolving business.”

**

Village Farms International, Inc. (VFF-T; VFF-Q) announced that it has “opted to receive” a $5.94-million cash refund from Pure Sunfarms Corp. (PSF) that it says relates to an additional equity contribution that Village Farms made to Pure Sunfarms on Nov. 19.

Village Farms noted in its release that Emerald Health Therapeutics, Inc. (EMH-X) has been disputing Village Farms’ ability to make the additional equity contribution, as well as the cancellation of 5,940,000 common shares of Pure Sunfarms placed in escrow.

Story continues below advertisement

"In an effort to narrow the issues in dispute and accelerate the resolution of this shareholder dispute, Village Farms decided to unwind the VF additional equity contribution, which has now been completed, with Pure Sunfarms providing Village Farms with the $5.94-million cash refund," the company stated. It said the refund to Village Farms also eliminates the costs and delays involved in obtaining an independent appraisal of Pure Sunfarms.

In a separate release, Emerald Health said Village Farms withdrew its "attempt to make an unsupported additional equity contribution" in their PSF joint venture.

“The previously announced arbitration proceedings between the parties remain in process with respect to Emerald’s right to set-off a $5.94-million payment owed by Emerald to PSF against a portion of the more than $13-million currently owed by PSF to Emerald under its shareholder loan,” the company stated in the release.

**

Hexo Corp (HEXO-T; HEXO-N) announced a US$20-million offering. The company said has an agreement with institutional investors for the purchase and sale of 11,976,048 common shares at an offering price of US$1.67 per share for gross proceeds of US$20-million. The company said it has also agreed to issue common share purchase warrants to purchase 5,988,024 common shares of the company. The warrants will have a five year-term and an exercise price of US$2.45 per share.

Hexo said it expects to use the net proceeds for working capital and other general corporate purposes, including funding research and development. A.G.P./Alliance Global Partners is acting as sole placement agent for the offering, the company stated.

Related topics

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

Comments that violate our community guidelines will be removed.

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