Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Western Forest Products Inc. (WEF-T) is buying Columbia Vista Corp. and “certain related entities” in Vancouver, Wash. for US$30.5 -million, including working capital of US$6.7-million. Columbia Vista is a lumber manufacturer that focuses production on Douglas Fir specialty products for the Japanese and U.S. markets.
“This acquisition is consistent with our strategy of pursuing margin-focused business opportunities that complement our position in selected markets,” said Don Demens, Western’s CEO, in a release.
Platinum Group Metals Ltd. (PTM-T; PLG-N) announced a 1-for-10 consolidation of its common shares effective Dec. 13. The consolidated shares will begin trading on the Toronto Stock Exchange and NYSE American on Dec. 17. “The purpose of the consolidation is to increase the company’s common share price to be in compliance with the NYSE American’s low selling price requirement,” the company stated in a release. “Shareholder feedback has been that the company should maintain its listing on the NYSE American.”
Its net loss was $2.8-million or 3 cents per share in the third quarter compared with a net loss of $1.5-million or 4 cents per share for the same period last year.
Aleafia Health Inc. (ALEF-X) says it and Serruya Private Equity have settled agreements to launch a Canada-wide cannabis retail joint venture along with domestic and international cannabis brands. Serruya will also make a $10 million “strategic investment” in Aleafia via a non-brokered private placement financing and Aleafia will invest $5 million of the gross proceeds into the JV, which will conduct business under the name “Flying High Brands Inc," the company stated.