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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.

Zenabis Global Inc. (ZENA-T) announced that Starseed Medicinal Inc. will advance it $10-million in September in return for supplying dried cannabis flower and trim. “We are excited to supply Starseed and its unique sales channels with our high-quality dried cannabis and trim products,” stated Andrew Grieve, CEO of Zenabis. He said Zenabis has obtained $40-million in non-dilutive financing through pre-paid supply agreements, “which we estimate to be sufficient to achieve our planned 131,200 kg of cannabis cultivation capacity expected to occur this quarter.”

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Fire & Flower Holdings Corp. (FAF-X) announced that its subsidiary Fire & Flower Inc. plans to acquire 102056025 Saskatchewan Ltd. from Mera Cannabis Corp. after the completion of its development of and receipt of all licences and permits required to operate a cannabis retail store in Regina. The acquired company was selected by the Saskatchewan Liquor and Gaming Authority in its 2018 province-wide lottery to operate a cannabis retail store in Regina. The purchase price of $1.5-million in cash and issue shares.

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NexPoint Hospitality Trust (NHT.U-X) says it’s NHT Operating Partnership LLC is merging with Condor Hospitality Trust, Inc. (CDOR-N) in a deal valued at US$318-million, including debt.

The transaction will expand NHT’s geographic footprint into Georgia, Kansas, Kentucky, Maryland, Mississippi and South Carolina and increase its presence in Florida and Texas, the company stated.

NHT said its gross asset value after the transaction is expected to increase to approximately US$700-million.

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Tervita Corp. (TEV-T) announced the deadline has passed for the Canadian Competition Bureau to challenge its acquisition of Newalta Corp. completed on July 19, 2018.

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“As such, the transaction is clear from any further CCB review,” the company stated.

“We are pleased that after a thorough review the CCB decided not to challenge the transaction. Since closing the transaction one year ago, the combined business has significantly enhanced value for our customers and shareholders, and we look forward to continuing to execute our growth plans,” stated CEO John Cooper.

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Chesswood Group Limited (CHW-T) announced the recent closing of a new funding facility with Sun Life Assurance Company of Canada for its subsidiary Pawnee Leasing Corp.

“This new facility finances Pawnee’s prime originations and provides additional annual funding for Pawnee of up to US$80-million, with a cost of funds that are fixed at the time of each tranche,” the company stated. “Sun Life has been providing financing to Chesswood’s Canadian finance business, Blue Chip Leasing, for many years and this new program for Pawnee is a further extension of this long-standing relationship.”

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CannTrust Holdings Inc. (TRST-T; CTST-N) announced the members of a special committee to investigate a compliance report from Health Canada notifying the company that its greenhouse facility in Pelham, Ont., is non-compliant with certain regulations.

"The special committee was appointed with a broad mandate to, among other things, investigate the company’s non-compliance with Health Canada regulations and ancillary matters, to make recommendations to the board of directors regarding any actions to be taken by CannTrust as a result of the investigation, and to assess any impact on the company’s bio assets, inventory, sales and revenue, CannTrust stated.

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SLANG Worldwide Inc. (SLNG-C) announced that it is entering the European Union, starting with Greece, through a partnership with Global Cannabis Corp. It said GCC’s wholly-owned subsidiary, GCC Pharma S.A. is one of the first companies to receive a medical cannabis installation license from the government of Greece for cannabis cultivation, processing and manufacturing. “SLANG has worked closely with GCC throughout the application process and has been instrumental in assisting GCC with the design and content of its license application,” the company stated. In exchange, SLANG has been granted a 20-per-cent interest in GCC.

SLANG said it intends to leverage its relationship with GCC to introduce its brand portfolio to the European Union, with products in market in 2020. “The addition of GCC to SLANG’s partner network is a major milestone in our global expansion strategy,” said Peter Miller, CEO of SLANG. “This partnership can help lead to the awareness of our brands in new and key markets while leveraging the capital-light growth model that Slang has optimized in the United States.”

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CRH Medical Corp. (CRH-T; CRHM-N) announced it has acquired a 51-per-cent interest in Crystal River Anesthesia Associates, LLC, a gastroenterology anesthesia practice in Florida. “Crystal River is the company’s fifth acquisition in the state of Florida and provides anesthesia services to two GI ambulatory surgery centers,” the company stated. It said the transaction was financed through a combination of CRH’s credit facility and cash on hand.

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Eureka 93 Inc. (ERKA-C), a hemp cannabidiol (CBD) and hemp extraction company, announced it reached a final, confidential agreement with Canopy Growth Corp. (WEED-T) and Canopy Rivers Corp. (RIV-X) which it says “resolves definitively the differences between the two companies.” Eureka93 said the settlement amount it will pay “is not of material importance.”

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Echelon Financial Holdings Inc. (EFH-T) says an arbitration panel in Denmark has dismissed arbitration proceedings, with costs awarded to EFH, “on the basis that the third party had no standing to bring them.” The company said the arbitration proceedings began in September 2018 in Denmark against EFH “alleging misrepresentations by the company at the time EFH sold Qudos Insurance to New Nordic Advisors Limited,” the company stated. “Although the share sale agreement specifically provided that it was not assignable, NNAL purported to assign it to a third party, who commenced the arbitration.”

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