Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Summit Industrial Income REIT (SMU.UN-T) announced it has sold its interest in its data centre in the Greater Toronto Area. “The outstanding mezzanine loan related to the project, including accrued interest, was repaid on the closing of the transaction,” the REIT stated. It said the transaction will generate a realized gain of approximately $21-million or 15 cents per unit. The proceeds will be received in stages over the 18 months.
"With the closing of the above transaction, Summit will continue to have only one mezzanine loan remaining on the development of a data centre in downtown Montreal," the REIT stated. "Summit's mezzanine loans with the joint venture partners developing these data centres allow Summit to participate in potential gains when the development projects are completed."
CEO Paul Dykeman said the proceeds "will further strengthen our financial position and liquidity, enhancing our ability to work through this challenging period resulting from the coronavirus pandemic."
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Savaria Corp. (SIS-T) announced the recent signing of sales contracts with two major home builders with a combined value of about $3-million.
In the Toronto area, the company said a builder has committed to purchase 50 home elevators from Savaria, and in the Baltimore region, an award-winning builder has agreed to purchase 43 Savaria home elevators.
“ We believe that COVID-19 impact may further increase the interest in products that help people stay in the home they love while maintaining autonomy and safety," stated CEO Marcel Bourassa.
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Aleafia Health Inc. (ALEF-T) announced a $13-million bought-deal financing. It has an agreement with Eight Capital as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, which has agreed to buy 20 million units of the company at a price of 65 cents per unit. Each unit will be comprised of one common share and one-half of one common share purchase warrant that entitles holders to purchase one common share at an exercise price of 80 cents for a period of 36 months.
The company said it intends to use the net proceeds for working capital and general corporate purposes.
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Trisura Group Ltd. (TSU-T) announced an agreement with a syndicate of underwriters led by BMO Capital Markets and Cormark Securities Inc. which has agreed to buy, on bought deal public offering basis, 907,500 common shares of the company, at a price of $46.85 each for gross proceeds of $42.5-million,
Concurrently with the closing of the offering, the company said its will issue and sell 160,100 of its common shares in a private placement at the offering price, for additional gross proceeds of $7.5-million. The agreement is with Trisura's principal shareholder, Partners Value Investments LP.
The company said it intends to use the net proceeds of the offering and the private placement for general corporate purposes.
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Fortuna Silver Mines, Inc. (FSM-N; FVI-T) announced a US$60-million bought-deal offering. It has an agreement with a syndicate of underwriters, led by Scotiabank and BMO Capital Markets, which have agreed to purchase 20 million shares for US$3.00 each.
The company said it intends to use the net proceeds to fund remaining construction and preproduction related expenditures at its Lindero gold project in Argentina and for general working capital purposes.
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dynaCERT Inc. (DYA-X) announced that it has granted its service provider KarbonKleen Inc. the exclusive dealership rights in the trucking industry in the U.S. until Dec. 31, 2024. The exclusivity is subject to certain quotas of a minimum of 150,000 HydraGEN technology units over a little more than three years, the company stated. It also said KarbonKleen has provided the company with a purchase order for 3,000 of the units.
dynaCERT also said it has set up a 100-per-cent-owned subsidiary called dynaCERT International Strategic Holdings Inc. "to be used to support sales efforts worldwide with investments in strategically unique and exceptional CleanTech innovators" directly related to its business.
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Score Media and Gaming Inc. (SCR-X) announced that the Indiana Gaming Commission has granted its subsidiary, Score Digital Sports Ventures Inc., a temporary sports wagering vendor license. “Receipt of this temporary license is the first step of a multi-stage regulatory approval and licensing process which must be satisfied before the Company may offer wagering on theScore Bet in Indiana,” the company stated.
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Western Copper and Gold Corp. (WRN-T) announced that," due to unprecedented interest from both new and existing shareholders," its non-brokered private placement financing announced on May 8 has been increased to raise proceeds of up to $4.48-million by issuing up to 4 million flow-through common shares at a price of $1.12 each. That’ s up from $3.36-million.