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

Calfrac Well Services Ltd. (CFW-T) announced that a special committee of independent directors has determined that the Wilks Brothers proposal is not a “superior proposal.”

The company said that, among other factors, the special committee concluded that the Wilks Brothers proposal "could not reasonably be expected to result in a transaction more favourable to the corporation and its stakeholders (including the senior unsecured noteholders) as it lacks the required level of support from senior unsecured noteholders."

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Calfrac said the determination means it will be continuing to seek approval for the recapitalization transaction.

See also: Major Calfrac shareholder launches rival restructuring deal

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Pure Gold Mining Inc. (PGM-X) announced a forest fire that was active in the area south of the town of Red Lake, Ont. is now under control and the evacuation order for the municipality has been rescinded. 

“Power and access [have] been restored to [the] site and the company is transitioning to a full resumption of mine activities,” at its Red Lake Mine, it stated.

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