Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Maricann Group Inc. (MARI-CN) reported second-quarter revenue of $1.2-million as compared to $661,602 during the same period in 2017. “The increase in revenue during the three months ended June 30, 2018 compared to June 30, 2017 is primarily related to two large bulk supply orders completed during Q2 2018,” the company stated.
Its net loss was $9.9-million or 7 cents per share versus a profit of $14-million or 20 cents a year earlier. The company said the larger net loss was due to an increase in "operational and other working capital uses consistent with a company on a steep growth curve. "
Tahoe Resources Inc. (THO-T; TAHO-N) says 12 unarmed security contract workers with its subsidiary Minera San Rafael S.A., behind its Escobal silver mine in Guatemala, were attacked and kidnapped on Friday and were released after several hours of being abducted, injured and held at gunpoint.
The abductors identified themselves as the “Peaceful Resistance Group of Mataquescuintla," the company stated.
Tahoe CEO Jim Voorhees said the company is treating the developments “with the utmost seriousness and are taking appropriate measures to ensure the safety and security of all of our employees and contractors, their families, and local community members.”
GTEC Holdings Ltd. (GTEC-X) has signed a cannabis supply agreement with Namaste Technologies Inc. (N-X) subsidiary Cannmart Inc. that sees Cannmart purchase cannabis flower and oil from GTEC for resale on Cannmart’s online platform.
"The supply agreement is consistent with GTEC's strategy of diversifying its sales mix by pursuing supply agreements with a select group of partners," the company stated.
The company said Aly Rahemtulla resigned effective today as president, CEO and from the board.
Mr. De Jong first joined BSM as its chief financial officer in 2014. Stephen De Bolster has been named interim CFO. Mr. De Bolster most recently served as its vice-president, finance.
CannaRoyalty Corp. (CRZ-CN) says it has a binding letter of intent that sees Tidal Royalty Corp., a provider of royalty financing to licensed U.S. cannabis operators, buy CannaRoyalty’s equity stake and royalty entitlement in Alternative Medical Enterprises LLC for $8-million in cash and stock.
AltMed is a licensed cannabis business operating in Florida that manufactures and distributes a line of cannabis-infused products marketed under the MÜV™ brand. CannaRoyalty said it will maintain the right to license MÜV products in California, Nevada, Canada and other select markets.
CannaRoyalty currently holds a 6-per-cent ownership position in AltMed and has a 3.5-per-cent royalty on global net sales on some MüV products.
CEO Keith Merker said the company is amongst a "select group of licensed producers who have been given the opportunity to supply Nova Scotia."
WeedMD has also entered into cannabis supply arrangements with the Alberta Gaming, Liquor & Cannabis Commission and the British Columbia Liquor Distribution Branch and has an agreement to become a medical cannabis supplier to Shoppers Drug Mart, subject to Health Canada’s approval of Shoppers Drug Mart’s application to be a licensed distributor.
"In this exclusive arrangement, FTI will provide to Emerald pharmaceutical-grade, industrial-scale manufacturing capacity as well as expertise in GMP-level extraction, softgel production, and packaging focused on the rapidly emerging market opportunities for medicinal cannabis in Canada and internationally," Emerald stated. "This collaboration leverages the Factors Group’s decades of experience in product development, formulation and innovation."