Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Interfor Corp. (IFP-T) announced it will acquire Chaleur Forest Products, which owns two sawmill operations in New Brunswick with a combined annual lumber production capacity of 350 million board feet.
Chaleur also operates a woodlands management division based out of Miramichi that manages approximately 30 per cent of the total Crown forest in New Brunswick. “This division provides a secure source of fibre supply for the sawmill operations as well as a stable, long-term stream of cash flow from third-party log sales, licence management fees and silviculture activities,” the company stated.
The purchase price is $325-million, including $31-million of net working capital.
The company said its personnel are safe and that there has been no impact on the production at the Essakane mine, located approximately 330 kilometres northeast of the country’s capital.
CareRx Corp. (CRRX-T) announced it has signed a multi-year contract to provide pharmacy services to residents in multiple seniors’ living facilities in Atlantic Canada, initially serving up to 600 residents.
CareRx said it’s in the process of establishing pharmacy operations in Atlantic Canada and expects to commence servicing homes in the third quarter of 2023.
“Establishing a presence in Atlantic Canada is another significant step in our growth journey and will further strengthen our position as the national leader in seniors pharmacy services,” said David Murphy, CEO of CareRx.
Maxim Power Corp. (MXG-T) reported a fire at one of its facilities near Grande Cache, Alta on Sept. 30. The M2 facility had been offline since early September for cold commissioning activities related to the combined cycle gas turbine expansion of M2.
The company said the expansion will be impacted as a result of the incident. “Damages could cause a significant delay to the commissioning and operations of the CCGT expansion of M2,” it stated.