Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
The Green Organic Dutchman Holdings Ltd. (TGOD-T) says the city council in Hamilton, Ont. voted to reverse a city planning committee decision to pass the zoning amendment related to the company’s phase two greenhouse expansion, representing approximately 6.5 per cent of its total planned 170,000 kg production. “This vote was contrary to the recommendations of Hamilton city staff,” the company stated in a release issued on Saturday. adding that it plans to appeal and is confident it “will be successful on its merits.”
The company said the Hamilton production facility, oil extraction and phase one are proceeding as planned and it intends to complete phase two “following a positive outcome of the appeal process.” The company said if a resolution “cannot be achieved in a timely fashion” it may transfer phase two capacity to its Valleyfield, Que. site currently under construction.
Aura Minerals Inc. (ORA-T) announced after markets closed on Friday a decrease in its production guidance for its San Andres gold mine. “The decrease is directly attributable due to a small number of individuals who have illegally entered the mine site and have been forcefully disrupting the company from conducting operations in accordance with its life-of-mine plan,” the company stated.
The company said it has laid-off more than 44 employees at the mine as a direct result, including some senior managers, and suspended all non-“vital operations,” including agreements with third-party vendors. It also said it will suspend all voluntary payments to the surrounding communities “together with other cost and investment reduction initiatives.”
“These individuals are self-interested and do not represent the interests of the local communities,” stated CEO Rodrigo Barbosa.
Black Diamond Group Limited (BDI-T) says its workforce solutions business unit has been “conditionally awarded” a $42.5-million camp contract. It said the camp will provide remote workforce accommodations for the construction of the proposed Coastal GasLink Pipeline Project. “The contract award is conditional upon a positive final investment decision by the Joint Venture Participants of LNG Canada,” the company stated.
“We are excited that Black Diamond has been selected to support this major Canadian LNG project and we believe our large fleet of high quality accommodation assets leaves us well positioned for additional associated opportunities,” said CEO Trevor Haynes.
The Hydropothecary Corp. (HEXO-T) says it has launched Fleur de Lune, an intimate medical cannabis oil. Fleur de Lune is a tetrahydrocannabinol (THC) oil product based in an odorless, tasteless carrier oil, the company said.
“With Fleur de Lune, we’re continuing to execute on our innovation and product development strategy,” stated CEO Sebastien St-Louis. “Fleur de Lune is yet another smoke-free medical cannabis option that responds to the evolving needs of our clients and the Canadian marketplace.”
Altius Minerals Corp. (ALS-T) says it expects to report attributable royalty revenue of approximately $16.5-million or 38 cents per share for the second quarter, which it says is 9.6-per-cent higher compared with $15.1-million or 35 cents per share for the same period last year.
“The second quarter results showed year over year growth in base metals and potash and declines in iron ore and thermal coal,” the company stated.
The company is expected to release final results for the quarter on Aug. 8.