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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news

Freehold Royalties Ltd. (FRU-T) announced agreements with two private sellers to acquire U.S. mineral title and royalty assets in the Midland basin, predominantly in Howard County, Texas, for $123-million and in the Eagle Ford basin in Texas for $32-million.

“The U.S. acquisitions enhance the quality of Freehold’s North American royalty portfolio through further strengthening of our peer leading realized commodity pricing, building on the production growth platform we have established in the Permian basin, and continuing to position our portfolio in the highest quality oil and gas development areas across North America,” the company stated.


Dye & Durham Limited (DND-T) announced late Wednesday that it has made a second revised proposal to the board of directors of Link Administration Holdings Limited related to its offer to acquire Link Group.

Dye & Durham boosted its offer to A$4.57 a share, plus up to A$0.13 a share from the sale of Link’s banking and credit-management business.

The latest A$4.57 per share bid is at a 19.3-per-cent premium to share registry firm Link’s last closing price, but is still lower than the original A$5.50 apiece that Dye & Durham offered in December.

-With a file from Reuters.

Some recent background on this story can be found here


TerraVest Industries Inc. (TVK-T) announced it has acquired Platinum Energy Services Ltd., a manufacturer of energy processing equipment with operations in Medicine Hat, Alta.

“Platinum is a small transaction for us, but one that further enhances our manufacturing capabilities and competitiveness in our processing equipment businesses in Western Canada,” stated Dustin Haw, CEO of TerraVest.


Western Forest Products Inc. (WEF-T) announced capital investments totalling approximately $29-million towards its B.C. operations.

The company said the capital investments represent an increase of $13-million above the $16-million of capital investments discussed in the company’s first-quarter 2022 Management’s Discussion and Analysis.


High Tide Inc. (HITI-X) announced that it’s acquiring two operating retail cannabis stores in B.C, six operating retail cannabis stores in Alberta, and one operating retail cannabis store in Ontario from Choom Holdings Inc. (CHOO-CN) for $5.1-million, pending court approval.

“While Choom had 17 operational stores before entering CCAA proceedings, we are able to acquire the nine locations that we want across three provinces at an attractive price of 3.8x annualized Adjusted EBITDA,” stated CEO Raj Grover


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