Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Corus Entertainment Inc. (CJR.B-T) announced an agreement to amend and extend the terms of its existing credit facility with its bank group, led by RBC Capital Markets and TD Securities. “Pursuant to the amendment, the term facility under the credit facility was adjusted from $2.1-billion to $1.8-billion, reflecting principal repayments made since the facility was last amended,” the company stated. “The credit facility was originally established in connection with the closing of Corus’ acquisition of Shaw Media Inc. to partially fund the purchase price for the acquisition and to replace the company’s existing credit facilities, with the terms subsequently amended and extended in November 2017 and on May 31, 2019.”
Aimia Inc. (AIM-T) announced that it and Air Canada have finalized all post-closing adjustments from the previously-announced sale of Aeroplan Inc. “A final payment to Aimia by Air Canada of approximately $19-million will result in the transaction having a total purchase price of approximately $516-million,” the company stated. “The post-closing adjustments were primarily related to favourable working capital relative to the target working capital set out in the share purchase agreement.”
The company also said it will file a notice of objection contest the re-assessments from Canada Revenue Agency.
"The H2Bus consortium is a very exciting development in the deployment of zero-emission fuel cell electric buses across Europe," stated Ballard CEO Randy MacEwen. "Consortium members intend to provide the most affordable zero-emission bus and hydrogen fuelling solution in order to meet the increasing demand for clean public transportation in Europe's largest cities."
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