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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Cascades Inc. (CAS-T) announced the acquisition of assets in the U.S. “which will allow the company to double its production capacity of ecological packaging manufactured in moulded pulp” for US$37.4 million.

"These acquisitions give us the opportunity to improve Cascades' position in the strategic fresh protein and food services packaging markets. They are also in line with our objective to expand our moulded pulp activities, which produce a recycled, recyclable, compostable and biodegradable packaging product that offers highly interesting opportunities against a backdrop of expanding interest in the circular economy. The value of this transaction is in line with current Cascades trading multiple and will be accretive to net earnings", stated CEO Mario Plourde in a release.


Aphria Inc. (APHA-T; APHA-N) says its board has appointed a special committee of independent directors to review the company’s previously completed acquisition of LATAM Holdings Inc. and to “confirm the company’s belief that it conformed with all company policies and generally accepted corporate governance practices.”

The company said the committee will do a review in the "face of inaccurate and misleading accusations by certain short-sellers, whose sole interest is in profiting from a decline in the company's shares ... "

“We are committed to protecting our shareholders and restoring market confidence by confirming all the facts through an independent process to rebut innuendo and deception,” stated Aphria CEO Vic Neufeld. “Until then, it is business as usual at Aphria, as we continue taking significant steps to solidify our position as a premier global cannabis company.”


Brick Brewing Co. Limited (BRB-T) reported net revenues of $14.2-million for the third quarter, up from $11.7-million in the third quarter of fiscal 2018. Net income was $1-million or 3 cents per share, which was in line with expectations and compared to $387,000 or a penny per share a year ago.


Planet 13 Holdings Inc. (PLTH-CN) says it didn’t receive any additional licenses in the most recent round of Nevada licensing.

“Obviously, we are disappointed in the results of this round of licensing, but daily sales and average ticket at the Superstore continue to track above our internal expectations and we still have significant near and long-term growth ahead of us,” stated co-CEO Bob Groesbeck in a release. “We are evaluating the most prudent path forward for our Medizin location and will continue to focus our near-term efforts on driving solid financial returns for shareholders from the Superstore... .”


ATS Automation Tooling Systems Inc. (ATA-T) has acquired “substantially all” of the intellectual property assets of Transformix Engineering Inc. which has a technology that links and synchronizes the movements of devices and tooling.

"This enhanced capability is expected to provide higher speed, lower cost, energy efficient and more flexible assembly solutions for ATS' customers, while utilizing a smaller footprint," the company stated.

"The addition of this important technology will complement our growing portfolio of linear mover technology products," stated Andrew Hider, CEO of ATS. The price paid was $10-million in cash and a future commission structure, the company said.


Canadian Western Bank (CWB-T) reported fourth-quarter net income of $65.5-million or 72 cents per share, which it said was up 6 per cent from the same quarter a year ago. Expectations were for earnings to come in at 73 cents per share.

Net interest income of $189 million was up 11 per cent compared to a year ago. Total revenue was $208.6-million, slightly below expectations of $209.6-million and up 7 per cent from last year.


Evertz Technologies Limited (ET-T) reported second-quarter revenue of $112.3-million, up 11 per cent from the prior year. Net earnings of $20.6-million or 27 cents per share versus $17.4-million or 23 cents a year earlier. Analysts were expecting earnings of 23 cents and revenue of $108.1-million in the latest quarter


PRO Real Estate Investment Trust (PRV.UN-T) announced the proposed acquisition of two light industrial properties in Ontario for an aggregate purchase price of $15.4- million, representing an implied weighted average capitalization rate of 6.8 per cent.

"These high quality, accretive acquisitions expand our presence in Ontario and in the industrial segment of the market, fitting with our diversification strategy and our intent to increase exposure in each of these areas," stated CEO James Beckerleg.


Drone Delivery Canada (FLT-X) announced an agreement to deploy its drone delivery technology platform with the Moose Cree First Nation communities.

The company said financial terms of the agreement include $2.5-million of revenue for year one with the potential to expand services in the following years.

“We are on track with the rollout of our commercial operations in the second of 2019”, stated Tony Di Benedetto, CEO of Drone Delivery Canada.


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