Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Second Cup Ltd. (SCU-T) and National Access Cannabis Corp. (META-X) said they have begun “actively reviewing” potential Second Cup locations in Ontario for conversion to NAC-operated cannabis retail stores, under the brand and banner Meta Cannabis Supply Co.
The announcement, which came after markets closed on Wednesday, is an update to a previously announced national strategic alliance and in response to the Ontario government's announcement to roll out a private retail cannabis model starting April 1, 2019.
"In addition to the opportunity in Ontario, NAC's META retail brand is targeting 2018 openings of 50-70 retail stores in the western provinces of Manitoba .... Alberta and British Columbia, and is currently recruiting up to 700 employees to be trained for Canada's retail launch which is expected to begin on October 17, 2018," the companies stated.
StorageVault Canada Inc. (SVI-X) reported a net loss of $9.2-million in the second quarter versus a loss of $3-million a year ago. The recent quarter included $14.3-million of depreciation and amortization and $1.9-million in stock-based compensation, the company said.
Revenue for the second quarter increased to $23.2-million compared to $12.6-million a year earlier. Existing self-storage stores revenue increased 5.6 per cent compared to the same period last year.
Medicure Inc. (MPH-X) recorded net revenue of $7.8-million during the quarter ended June 30, slightly ahead of expectations of $7.6-million and compared to $8.1-million for the quarter ended June 30, 2017. Net income was $1.6-million compared to $1.4-million a year ago.