Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
This list is available by request to those seeking access to psilocybin through the Special Access Program (SAP), and clinical researchers, the company stated.
It said the SAP is a federal program that allows health care professionals to apply for access to non-marketed medications that have not yet been approved for sale, “when such medications show clinical evidence of safety and efficacy and are intended to treat patients with severe or life-threatening illness.”
Earlier this month, Health Canada added certain psychedelic compounds to the SAP that were previously available only through clinical trials, the company stated.
Slate Office REIT (SOT.UN-T) announced its previously announced deal to acquire Yew Grove REIT PLC, an Irish-incorporated real estate investment trust that is dual-listed on Euronext Dublin and the AIM market of the London Stock Exchange, was approved today by the High Court of Ireland.
The proposed acquisition would see the REIT acquire a portfolio of 23 properties, the company stated.
Currency Exchange International Corp. (CXI-T) reported revenue of US$10-million for the three-month period ended Oct. 31 as compared to US$4.9-million a year ago. The expectation was for revenue of US$8.8-million, according to S&P Capital IQ.
Net income of US$1.6-million or 25 US cents per share compared to a net loss of US$3.3-million or 51 US cents a year earlier.
Killam Apartment REIT (KMP.UN-T) announced an $85-million bought deal financing. The REIT said it has an agreement with a syndicate of underwriters led by RBC Capital Markets to issue to the public 4.1 million trust units for $20.80 each.
Killam said it intends to use the net proceeds to repay amounts outstanding on its credit facility (current outstanding balance of approximately $60-million), to fund future acquisitions and developments and for general trust purposes.
Upon completion of the offering and the use of proceeds, Killam said it expects to have access to approximately $190-million of available capital through its credit facilities and cash on hand.
The company said it has an agreement with Eight Capital and Raymond James Ltd., as lead underwriters and joint bookrunners on behalf of a syndicate of underwriters, to buy 10.94 million units of the company for $1.60 each.
Each unit consists of one common share and one half of one common share purchase warrant exercisable for $2 for 36 months. The company said it intends to use the proceeds for working capital and general corporate purposes.
The company also reported revenues of $253-million for the three months ended Dec. 31 compared to $329.5-million a year earlier. Net income of $68-million or 13 cents per share compared to $120.8-million or 25 cents a year ago.
The company also said its dividend is related to the semi-annual results for the period ended Sept. 30 and that its board will evaluate any potential future dividends alongside the release of its semi-annual and annual results.
Chemtrade said it expected 2021′s adjusted EBITDA to range between $245-million and $260-million, which included approximately $19-million of EBITDA relating to the two specialty chemicals businesses which were sold in November.
“Excluding the benefit of the lawsuit settled during the fourth quarter of 2021 (as described in Chemtrade’s third quarter Management’s Discussion and Analysis report), Chemtrade now expects to be at or above the top of this guidance range,” it stated.
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