Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
CloudMD Software & Services Inc. (DOC-X) announced plans to acquire iMD Health Global Corp., a platform for health care professionals at every level of care “to better engage, inform and educate patients about their conditions and treatment plans.”
It said the platform has access to over 7.5 million patients and is currently being used by over 10,000 healthcare professionals and other users including 3,800 doctors, 2,000 pharmacies, 140 hospitals, and 150 specialty clinics.
As part of the deal, CloudMD has agreed to pay $10-million in cash, shares and performance-based earnouts.
Its net loss was $1.5-million or 4 cents versus a profit of $34-millon or $1 per share a year ago.
“The declaration of the COVID-19 virus as a pandemic by the World Health Organization on March 11, 2020, and the subsequent shut downs globally, domestically and locally have had a significant impact on the Company’s hotel operations,” it stated.
Canopy Rivers Inc. (RIV-T) announced that it has received a statement of claim filed by 2615975 Ontario Inc., the company’s joint venture partner in PharmHouse Inc., “concerning certain disputes relating to PharmHouse.”
The company said the claim makes a number of allegations against it, Canopy Growth Corp. and TerrAscend Corp. and TerrAscend Canada Inc., “including claims relating to bad faith, fraud, civil conspiracy, breach of the duty of honesty and good faith in contractual relations and breach of fiduciary duty, and claims relating to PharmHouse’s offtake agreements with Canopy Growth and TerrAscend.”
Canopy Rivers said it considers the claim “as it relates to the actions of Canopy Rivers to be completely without merit, and intends to vigorously defend its position at the appropriate time and in the appropriate forum.”
Its net loss was $14.4-million or 13 cents versus a profit of $2.2-milion or 2 cents a year ago.
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