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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.

Slate Office REIT (SOT.UN-T) announced that Charles Peach will become chief financial officer of the REIT, replacing Michael Sheehan, who is stepping down from his role as CFO to pursue other opportunities.

Mr. Peach currently serves as CFO of Yew Grove REIT plc, an Irish-incorporated real estate investment trust that Slate Office REIT recently acquired.


Slate Grocery REIT (SGR.UN-T) announced that Blair Welch, founding partner of Slate Asset Management, has been appointed as interim CEO Slate Grocery REIT. He will replace David Dunn, who is stepping down as CEO of the REIT. Mr. Welch will serve as CEO until a permanent successor is identified, the REIT stated.

Mr. Welch is the co-founder of Slate Asset Management and has over 25 years of real estate industry experience. He previously served as CEO of the REIT from its inception through 2014.


Superior Plus Corp. (SPB-T) announced a collaboration with Charbone Corporation to deliver green hydrogen to their commercial and industrial customers, first in Quebec.

“Superior and Charbone will use their collective expertise, covering mobile energy distribution and related logistics for one and green hydrogen production for the other, to make hydrogen an affordable energy option and convenient for companies in many industrial sectors looking to limit their carbon emissions, use clean energy sources and meet their sustainability goals,” the companies stated in a release.


Sandstorm Gold Ltd. (SSL-T) said it sold about 67,500 gold equivalent ounces attributable to the company for full-year 2021 and that revenue is expected to come in a $114.8-million — both representing a record for the company. During the year, Sandstorm said realized preliminary total sales, royalties, and income from other interests of $120.7-million.

For the fourth quarter, the company said it sold approximately 16,600 gold equivalent ounces and revenue is expected to come in at $29.8-million. The company said the results are not yet audited and that it will release official results in the coming weeks.


Cargojet Inc. (CJT-T) announced the early renewal and extension of the air cargo services agreement with two major domestic customers.

The company said the agreements will run for a three-year term and contain two, one-year renewal options. The original agreements were due for renewal in 2021 and in July 2022.

“This is another example of customers continuing to secure long-term capacity on Cargojet’s air cargo network considering structural shifts in the nature of supply chains which are leading to significant growth in demand for time-sensitive air cargo services across Canada,” the company stated.


NervGen Pharma Corp. (NGEN-X) a clinical-stage biotech company focused on treatments for nervous system damage, announced a memorandum of understanding with Shirley Ryan AbilityLab to perform its NervGen’s first clinical trial with the company’s proprietary NVG-291 in spinal cord injury (SCI) patients.

“The single-site clinical trial, which is expected to start in the second half of 2022, will be a placebo-controlled trial, assessing the safety and efficacy of NVG-291 in treating acute/subacute (less than three months post-injury) and chronic (more than one-year post-injury) patients,” the company stated.


Rock Tech Lithium Inc. (RCK-X) named Markus Brügmann as its new CEO, effective immediately.

The company said Mr. Brügmann has extensive experience at large international corporations like Mitsubishi Power and ABB “where he built up and managed global business units.”

Mr. Brügmann joined Rock Tech in November as an advisor to the chairman and head of operations. He succeeds interim CEO Dirk Harbecke. Mr. Harbecke will now fully concentrate on his duties as executive chairman, the company stated.


BTB Real Estate Investment Trust (BTB.UN-T) said it bought two modern Class A office properties in Ottawa’s Glebe neighborhood for $38.1-million, excluding transaction costs.

The acquisition increases BTB’s total leasable area by 116,226 square feet. The REIT said it financed the acquisition by securing a first mortgage on the properties for $24.8-million, with the balance satisfied with cash on hand and drawing on the existing acquisition credit facility.


Converge Technology Solutions Corp. (CTS-T) announced it has acquired PDS Holding Company, a Delaware corporation, from Mason Wells, a private equity firm based in Milwaukee, Wis., for US$52-million.

Paragon Development Systems, Inc. marks the twenty-sixth acquisition completed by Converge or its affiliates since October 2017.


Algoma Steel Group Inc. (ASTL-T) said that, based on the current estimates of its earnout adjusted EBITDA for calendar year-end 2021, it expects that all 37.5 million Algoma common shares will be issued as part of the earnout rights in the merger agreement with Legato Merger Corp.

“We were pleased with the company’s performance during the quarter, with expected financial results in line with our previous fiscal third quarter Adjusted EBITDA guidance, albeit on lower than planned shipments of approximately 550,000 tons, as compared to the previously issued guidance of 590,000 to 610,000 tons,” stated CEO Michael McQuade in a release.


He said actual shipments were impacted by various issues including increased holiday shutdowns by customers, logistical supply chain constraints, and COVID-related challenges.

“As a result, our steel inventory has increased, and we expect to ship these deferred tons over the next two fiscal quarters. Algoma’s high percentage of contract business offers stability during periods of volatility and this, combined with the strong demand and improving pricing we are seeing for our plate products, has positioned us well to continue delivering strong results to our shareholders.”


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