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Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news and on the move today.

ECN Capital Corp. (ECN-T) announced an agreement to sell its equity interests in ECN Kessler Holdco LLC to Stone Point Capital LLC. The sale is expected to generate cash proceeds of US$210-million, the company stated.

ECN Capital said it expects to use the net proceeds to first pay down debt “and then redeploy a portion of the proceeds to accelerate its tuck-in acquisition strategy in its prime marine and RV financing business.”

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WildBrain Ltd. (WILD-T) announced that it has extended CEO Eric Ellenbogen’s contract for three years. Mr. Ellenbogen joined WildBrain in August 2019. As part of the company’s overall succession planning, the contract includes an option to transition Mr. Ellenbogen, who is currently vice-chair, to executive chair in the second half of the term, the company stated.

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Aurora Cannabis Inc. (ACB-T; ACB-Q) announced it has acquired a controlling interest in Bevo Agtech Inc., the sole parent of Bevo Farms Ltd., one of the largest suppliers of propagated vegetables and ornamental plants in North America. Bevo operates 63 acres of greenhouse in B.C.

At the same time, Bevo struck an agreement to acquire the company’s Aurora Sky facility in Edmonton.

Aurora said it will acquire 50.1 per cent of Bevo’s outstanding common shares and take a controlling position on Bevo’s board. It will pay $45-million in cash and up to an additional $12-million over the three years conditional on Bevo achieving certain financial milestones at its Site One facility in Langley, B.C.

Up to $25-million could be payable over time by Bevo to Aurora in connection with the Aurora Sky transaction, based on Bevo successfully achieving certain financial milestones at the Aurora Sky facility.

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Frontier Lithium Inc. (FL-X) reported a net loss of $5-million or 2 cents per share for the quarter ended June 30 compared to a loss of $2.8-million or 2 cents a year ago, according to documents filed on Sedar.com. Revenue was nil for both quarters.

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Hudbay Minerals Inc. (HBM-T; HBM-N) announced it has received formal approval from the Uchucarcco community in Peru to explore the Maria Reyna and Caballito satellite properties located near the company’s Constancia mine.

“These satellite properties consist of a large, contiguous block of mineral rights held by Hudbay and have the potential to host mineral deposits within trucking distance of the Constancia processing facilities,” the company stated.

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Discovery Silver Corp. (DSV-X) reported a second-quarter loss of $12-million or 4 cents per share versus a loss of $8.7-million or 3 cents in the same quarter a year ago. The mineral exploration company has no revenues from its operations at this time.

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