Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Savaria Corp. (SIS-T) announced a 9.4-per-cent increase in its monthly dividend to 3.8 cents from 3.5 cents. That’s an increase of 4 cents on an annual basis, raising the dividend to 46 cents per share, the company said.
“The integration of Span-America and Garaventa Lift is progressing well and according to plan, and our financial position remains solid," stated CEO Marcel Bourassa.
"We are proud to join a class of issuers that includes many reputable domestic and international companies," said Narbe Alexandrian, CEO of Canopy Rivers. "We believe that graduating to the TSX will improve awareness about Canopy Rivers and enhance liquidity for our shareholders and other market participants."
The company said the acquisition is part of an ongoing strategic initiative "to bring together leading-edge technologies and services that will enhance the power of its PATSCAN Platform, which offers a layered, multi-sensor approach to concealed threat and disturbance detection."
Currency Exchange International, Corp. (CXI-T) announced the completion of its acquisition of eZforex.com, Inc., a Texas-based privately-held foreign currency and technology business for US$4.25-millio. The price is inclusive of US$1-million in net positive working capital left in eZforex on completion of the transaction to facilitate the seamless continuation of the operation of the eZforex business in the ordinary course immediately after closing, the company stated.
"The acquisition of eZforex will complement CXI’s existing client base and wholesale banknote operations," it stated.
Baytex Energy Corp. (BTE-T; BTE-N) said it’s now forecasting average production for 2019 of approximately 97,000 barrels of oil equivalent per day (boe/d), compared to its original guidance range for 2019 of 93,000 to 97,000 boe/d, which the company said was recently tightened to 96,000 to 97,000 boe/d.
"We expect to exit 2019 producing 95,000-97,000 boe/d," the company stated. "This represents debt-adjusted production per share growth of 7-to-9 per cent as compared to our 2018 exit production rate."
The company said it now expects exploration and development expenditures for 2019 of approximately $560-million compared to the original guidance range of $550-milion to $650-million, which was recently tightened to $550-million to $600-million.
PHX Energy Services Corp. (PHX-T) announced a $5-million increase to its 2019 capital expenditure program to $35-million. “The increase will primarily be dedicated to the purchase of long-lead items required to further expand the Atlas High Performance Drilling Motor and Velocity Real-Time System fleets for activity in 2020,” the company stated.
Auxly Cannabis Group Inc. (XLY-X) announced that its wholly-owned subsidiaries, Dosecann Inc. and Kolab Project Inc. have both been authorized by Health Canada to sell cannabis oil under the Cannabis Regulations. “The issuance of these sales licences marks a significant milestone for Auxly in furthering its strategy to deliver branded derivative cannabis products to market when such products become legal later this year,” the company stated.
Organigram Holdings Inc. (OGI-Q; OGI-T) announced it received Health Canada’s approval for the licensing of 17 additional cultivation rooms under the Cannabis Regulations. The new cultivation rooms represent approximately 15,000 kg/yr of increased target production capacity, the company said. “These are the first 17 rooms licensed within the company’s Phase 4B expansion and now brings the company’s Moncton facility to annualized licensed capacity to a target of 76,000 kg,” it stated.