Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Its net loss was $2.3-million as compared to a net loss of $1.75-million for the same period in 2019.
GreenPower Motor Company Inc. (GPV-X) announced it will proceed with the consolidation of the common shares of the company on the basis of seven pre-consolidation shares for one post-consolidation share. It said the consolidation will become effective at the opening of the market on August 28.
Ayr Strategies Inc. (AYR.A-C) announced an agreement to expand its footprint to include cultivation, production and dispensary assets in Pennsylvania.
It also reported second-quarter revenue of US$28.3-million which was in line with expectations and compared to US$10.8-million a year earlier.
Its net loss was US$7.5-million or 28 cents US per share versus a loss of US$3587-million or US$2.18 per share a year ago.
Tricon Residential Inc. (TCN-T) announced that a syndicate of investors led by Blackstone Real Estate Income Trust, Inc. (BREIT) has agreed to make a $395-million preferred equity investment in the company.
The investment is being made through the purchase of newly created units issued by a Tricon subsidiary on a private placement basis and are exchangeable into a minority investment of Tricon. BREIT will acquire $240-million of the preferred equity, the company stated.
"This investment in Tricon illustrates Blackstone Real Estate's confidence in our business fundamentals and the value in our stock," said Gary Berman, CEO of Tricon Residential. "Blackstone inherently understands our business and is exceptionally well-positioned to help us bring our tech-enabled operating platform to its full potential."
CTT Pharmaceutical Holdings, Inc., (CTTH-OTC) announced that it has filed a statement of claim with the Ontario Superior Court of Justice against Aurora Cannabis Inc. (ABC-T).
"The company is seeking compensation for Aurora's denial of contractual commitments with CTT, which includes expenses, royalties due, lost royalties and damages," it stated in a release on Thursday.
Goodfood Market Corp. (FOOD-T) announced it has signed a lease for a 45,000 square feet facility in Montreal, "further expanding its footprint and capabilities in the key urban centre."
The company said the new facility will bring its footprint to seven facilities across Canada totalling nearly 590,000 square feet of purpose-built online grocery and meal solution delivery fulfillment capacity.
Discovery Metals Corp. (DSV-X) reported a loss of $1.7-million or a penny per share in the second-quarter ended June 30 versus a loss of $807,891 or a penny per share a year ago.
The company said the increase in net loss is primarily due to increased exploration expenditures from its the Phase 1 drill program at its Cordero silver project in Mexico and increased share-based compensation expense resulting from the option grant to certain management, directors, employees and consultants.
Score Media and Gaming Inc. (SCR-X) announced that its subsidiary, Score Digital Sports Ventures Inc., has secured market access to operate an online casino in New Jersey via a multi-year agreement with Twin River Worldwide Holdings, Inc. (TRWH-N)
The company said it expects to launch its online casino product in New Jersey in the second half of 2021, subject to securing applicable licensing and regulatory approvals and the completion of Twin River's pending acquisition of Bally's Atlantic City Hotel & Casino in Atlantic City.
“This is yet another step towards providing theScore’s media and betting patrons with a completely holistic and tightly integrated media and gaming experience,” stated John Levy, Founder and CEO of theScore, in a release.
Under the agreement, Twin River will receive a percentage of revenue derived from theScore Bet’s online casino operations in New Jersey, subject to certain annual minimum guaranteed amounts, an upfront fee, and renewal fees if applicable. The agreement is for an initial term of 10 years, extendable by a five-year renewal term at theScore’s option and a further five-year renewal term upon mutual agreement of the parties, the company stated.
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