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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.

Lucara Diamond Corp. (LUC-T) announced the recovery of a 240 carat, “top white gem diamond” from its 100-per-cent owned Karowe Diamond Mine in Botswana.

“This diamond will be shown alongside the 127 carat, top white gem diamond reported earlier this year together with other exceptional diamonds recently recovered from Karowe, at Lucara’s upcoming diamond tender closing on March 7, 2019,” the company stated. The company said a total of 54 diamonds in excess of 200 carats have been recovered since mining began at Karowe in July 2012, including 12 diamonds larger than 300 carats in size. In addition, Lucara said it has sold 180 diamonds in excess of $1-million each and ten diamonds have sold for in excess of $10-million each.

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Yellow Pages Ltd (Y-T) announced that its Toronto sales representatives have ratified a new collective bargaining agreement after what it described as a “year-long process of restructuring and modernizing the company’s relationship with its unionized sales representatives across Canada.”

The company said the agreements give it a "new ability to reward superior performers, compensate them for profitable revenue growth, assign accounts to them in ways that it deems best for the company and its customers, evaluate and manage individuals based on results, and make changes promptly, in response to the shifting needs of its competitive marketplace."

"The process has been long and challenging, but we are extremely pleased with the outcome," stated CEO David Eckert." We have now laid the groundwork necessary for achieving real improvement in our revenue trends, for the benefit of all of our constituencies."

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Organigram Holdings Inc. (OGI-X) reported record net sales from continuing operations from its first quarter ended Nov. 30 of $12.4-million, up 419 per cent from $2.4-million a year ago but below analysts' expectations for the latest quarter of $13.9-million. It also reported net income from continuing operations was $29.5-million, or 19.5 cents per share up from a net loss of $1.2-million or 1.2 cents per share a year earlier.

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Delta 9 Cannabis Inc. (NINE-X) announced it has a deal to sell its 50-per-cent interest in the Delta West extraction facility to Westleaf Inc. (WL-X). As part of the agreement, Westleaf has agreed to issue 5.6 million of its shares valued at $2.67 each or about $14.95-million.

“We feel that this transaction creates significant value for Delta 9 and its shareholders, representing a substantial return on our original investment in the Delta West facility” said John Arbuthnot, CEO of Delta 9. “This move will allow us to streamline our allocation of capital and allow Delta 9 to focus on continued expansion of our Winnipeg based cultivation facilities, continued expansion of our Delta 9 Cannabis Stores unit, and allow us to explore other strategic investments in the industry.”

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Zenabis Global Inc. (ZENA-X) said it has acquired a 51-per-cent of Hillsboro Corp Inc.'s True Buch kombucha company. Zenabis said it acquired the stake in True Buch by issuing 455,097 of its common shares. True Buch shareholders are also entitled to cash earn-out payments “based on the future financial results of True Buch exceeding the forecast on which the closing payment was based,” the company stated. Zenabis has the option to purchase the remaining 49-per-cent of the equity in True Buch, after two years, at eight times the EBITDA for the preceding 12 months payable in cash.

"The strategic acquisition of True Buch marks a significant milestone for both companies," said Andrew Grieve, CEO of Zenabis. "We are excited to enter into this business arrangement with True Buch for several reasons, with the first among these the opportunity to leverage the expert management and operational expertise being contributed by each of our entrepreneurial teams. Zenabis is moving rapidly to augment our existing recreational and medical cannabis product lines with the creation of a new consumer product portfolio, in anticipation of upcoming changes to regulations around the sale of cannabis-infused edibles."

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American Hotel Income Properties REIT LP (HOT.UN-T) announced the resignation of its president Ian McAuley “to pursue other opportunities,” effective Feb. 1. “On behalf of AHIP, I would like to thank Ian for his valuable contributions to our business,” stated CEO John O’Neill. “Ian has been instrumental in our growth and success over the past three and a half years with our portfolio growing from 73 to 112 hotels during his tenure.”

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The Green Organic Dutchman Holdings Ltd. (TGOD-T) commented Monday on the Greek government’s consideration of a “significant investment in the development of the pharmaceutical hemp and cannabis sector” in the country, including up to $74-million-euro investment, 34-acre property in Thebes, and a multi-phased large-scale state-of-the-art cannabis cultivation facility.

"The company confirms it has been in communication with various Greek Ministries, including the Ministry of Rural Development and Food, since early 2018; and is awaiting a license for the production of medicinal cannabis. The company and the Greek Government have had advanced discussions as to the nature of the proposed plans. The Government appreciates TGOD's organic product and process and values its commitment to sustainability," it stated.

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Argonaut Gold Inc. (AR-T) announced it has received a positive “decision statement” for the environmental assessment for its 100-per-cent-owned Magino Project from the Minister of Environment and Climate Change.

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"This decision follows a thorough and science-based environmental assessment conducted by the Canadian Environmental Assessment Agency with participation of Indigenous groups, the public and federal departments including Fisheries and Oceans Canada, Environment and Climate Change Canada, Natural Resources Canada, Health Canada and Transport Canada," the company stated.

CEO Pete Dougherty said the approval is the completion of a “major milestone for the Magino Project.”

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Emerald Health Therapeutics, Inc. (EMH-X) announced that its 50-per-cent-owned Pure Sunfarms joint venture received from Health Canada its sixth amendment to its cultivation license for its 1.1 million square foot greenhouse in Delta, BC. “The additional approximately 138,000 square feet brings Pure Sunfarms’ total licensed cannabis production area to approximately 825,000 square feet. The newly licensed area is expected to be fully planted and in production this week,” the company stated.

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EO

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PPeople Corp. (PEO-T) reported first-quarter revenue of $36.3-million up from $28.5-million a year ago and slightly below expectations of $37.1-million. Its net loss was $1.5-million or 2 cents per share which was in line with expectations and compared to net income of $463,700 or 3 cents a year ago. Adjusted EBITDA was $7.4-million up from $5.4-million a year ago.

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