Skip to main content
The Globe and Mail
Support Quality Journalism
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99 per week for the first 24 weeks
Just $1.99 per week for the first 24 weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); }

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Goodfood Market Corp. (FOOD-T) announced a $35-million bought-deal offering. The company said it has an agreement with a syndicate of underwriters co-led by Desjardins Capital Markets and Stifel GMP that has agreed to purchase 5,788,000 offered shares at a price of $6.05 each. The shares closed at $6.45 on Wednesday, prior to the announcement.

The shares include 4,135,000 common shares of the company and 1,653,000 from shareholders, including CEO Jonathan Ferrari, president and chief operating officer Neil Cuggy, vice-president of merchandising Raffi Krikorian and director Hamnett Hill.

Story continues below advertisement

The gross proceeds will be about $25-million to the company and $10-million to the shareholders.

The company said it intends to use the net proceeds "to fund capital and operational projects to build out same-day delivery capabilities through fulfilment technology and automation equipment and for general corporate purposes."

“The accelerating adoption of online grocery and home meal solutions has brought forward Goodfood’s growth and profitability plan and this capital raised will support our continued push for growth and bolster the efficiency and breadth of our operations,” stated Mr. Ferrari in the release.

**

Savaria Corp. (SIS-T) said it expects second-quarter revenue to come in at $84.5-million, a drop of 10.2 per cent from the same quarter in 2019. Analysts are expecting revenue of $80.6-million for the quarter ended June 30.

The company said adjusted EBITDA is estimated at $14.5-million, an increase of 2 per cent when compared to the same period in 2019.

“Our extensive accessibility product portfolio, along with our efforts to build out a global distribution network, as well as significant cost-containment efforts, all contributed to our strong results, despite the challenging climate presented by the COVID-19 pandemic.” stated CEO Marcel Bourassa.

Story continues below advertisement

He said official results will be released on Aug. 12 after the market close.

**

Lucara Diamond Corp. (LUC-T) announced a definitive supply agreement for the remainder of 2020 with HB Group out of Antwerp, Belgium for all diamonds produced in excess of 10.8 carats in size from its Karowe Diamond Mine in Botswana.

The company said large, high-value diamonds in excess of 10.8 carats in size from Karowe account for approximately 70 per cent of its annual revenues.

It said purchase price paid for the rough diamonds will be based on the estimated polished outcome, "determined through state of the art scanning and planning technology, with a true-up paid on actual achieved polished sales thereafter, less a fee and the cost of manufacturing."

The company said the “unique pricing mechanism is expected to deliver regular cash flow for this important segment of our production profile at superior prices.”

Story continues below advertisement

**

Just Energy Group Inc. (JE-T) announced a slate of seven director candidates, of which five are new directors, who will be appointed to the board of directors upon completion of the previously announced recapitalization transaction. It said a special meeting is expected to be held on Aug. 25 to consider the recapitalization transaction.

The company has applied for an interim order from the Ontario Superior Court of Justice for the recapitalization transaction, which will be effected through a plan of arrangement under the Canada Business Corporations Act. The interim order hearing is scheduled for Friday morning.

As part of the planned reconstitution of the board, the company announced that Rebecca MacDonald, the company’s founder, will be retiring and stepping down, effective today. At the same time, her employment contract as executive chair will be terminated by mutual agreement, the company stated.

**

Russel Metals Inc. (RUS-T) announced after markets closed on Wednesday that Martin Juravsky will succeed Marion Britton as the company's next chief financial officer, effective immediately.

Story continues below advertisement

CEO John Reid said the company is moving to the next phase of its planned CFO transition. Ms. Britton will stay on for the balance of 2020 as executive vice-president and will continue in a "key role" on the company's enterprise resource planning (ERP) implementation team beyond 2020, Mr. Reid said.

“Marion’s career and numerous accomplishments epitomizes a consummate professional driven by a tireless work ethic as she has always produced work of remarkable quality and quantity,” Mr. Reid said. “Her professional and personal contributions have left an indelible mark on our history.”

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Follow related topics

Report an error Editorial code of conduct
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies