Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Enthusiast Gaming Holdings Inc. (EGLX-Q; EGLX-T), a video game and esports platform, announced that unique visitor traffic to its digital media property in the U.S. reached an all-time high in October, based on recent digital media ratings from Comscore, a leading independent third-party measurement firm.
The Enthusiast Gaming digital media property reached 47.8 million U.S. Unique Visitors for the month of October. Enthusiast Gaming ranks between streaming platform Twitch, and game platform Roblox, as a top property in the overall Games category, the company stated.
D2L Inc. (DTOL-T), an educational technology company, stated that B.C.’s Ministry of Education selected its D2L Brightspace platform to help deliver exceptional, flexible learning experiences for up to 670,000 learners in K-12 across the province.
“British Columbia is home to many different school districts and communities with highly specific needs,” the company stated. “To address them, the province’s Ministry of Education was looking for a modern learning platform that delivered the very best experience for learners and educators, in the classroom and beyond.
Morguard Real Estate Investment Trust (MRT.UN-T) announced a $150-million bought-deal offering of convertible debentures.
The REIT said it has an agreement with a syndicate of underwriters, co-led by RBC Capital Markets, TD Securities Inc. and Scotiabank, with RBC Capital Markets and TD Securities Inc. acting as bookrunners, to buy $150-million in 5.25 per cent convertible unsecured subordinated debentures due Dec. 31, 2026. The debentures are convertible, at the option of the holder, into trust units of Morguard REIT at $7.80 each. As part of the transaction, it said Morguard Corp. intends to purchase $60-million of the debentures being offered.
The REIT also said it will redeem all of its outstanding 4.5 per cent convertible unsecured subordinated debentures on Dec. 17, 2021. The REIT said it intends to use the net proceeds from the offering, together with existing liquidity, to fund the redemption.
Global Atomic Corp. (GLO-T) announced a $30-million bought-deal private placement, upsized from $25-million.
The uranium mine development and zinc concentrate production company said it has an agreement with Red Cloud Securities Inc. to act as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, which will buy for resale 7.5 million units for $4 each. Each unit includes one common share of the company and one-half of one common share purchase warrant exercisable at a price of $6 for 18 months.
The net proceeds will be used for exploration and development of the company’s Dasa Uranium Project in the Republic of Niger and for general working capital purposes.
Sangoma Technologies Corp. (STC-T), a cloud-based “communications-as-a-service” company, announced it would withdraw its previously announced common share offering in the United States, effective immediately, citing “market conditions.”
“At current share price levels, the offering is no longer attractive to the company or its shareholders,” the company stated in a release.
Dirtt Environmental Solutions Ltd. (DRT-T) said its board of directors has received a requisition requesting a special meeting of the company’s shareholders be called to consider removing six independent directors of the company and replacing them with hand-picked nominees of Aron English of 22NW Fund, LP.
“The board (or a committee thereof) will review the requisition to, among other things, determine its validity,” the company stated, adding that it “will respond to the requisition in due course.”
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