Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Aimia Inc. (AIM-T) issued a response after markets closed on Wednesday to statements made by Grupo Aeromexico S.A.B. de C.V. regarding Aimia's 48.9-per-cent stake in PLM Premier, S.A.P.I. de C.V., the owner and operator of Aeromexico's Club Premier frequent flyer program.
"Aimia notes that PLM Premier has been a highly successful partnership," the company stated, calling its involvement "critical to the program's management and profitability leading to the increase in distribution to both Aeromexico and Aimia announced earlier this year."
Aimia also said it's "disappointed that Aeromexico would disclose non-material communications as a means to leverage its desire to buy back Aimia's interest in PLM. Contrary to Aeromexico's assertions, Aimia has no knowledge of any irregularities or potential breaches with respect to Aimia's obligations governing PLM."
Aimia stated that it will "uphold its rights under the various contractual arrangements regarding Aeromexico's and Aimia's joint investment in PLM, which benefits from a contract term with Aeromexico that runs to 2030."
NGEx Resources Inc. (NGQ-T) announced that the previously announced spin-out of the Company’s Los Helados property and certain other exploration properties into a wholly-owned subsidiary called NGEx Minerals has been completed.
The company has also changed its name to Josemaria Resources Inc. and will begin trading under the new name on the TSX on July 23 and on the Nasdaq Stockholm Exchange on July 25.
The company has also applied for a listing of the shares of NGEx Minerals on the TSX Venture Exchange.
Carmanah Technologies Corp. (CMH-T) announced that it has received notice from the Canada Revenue Agency that the CRA will rule that part of the proceeds received by shareholders in connection with the going-private transaction will be a deemed dividend.
The company said the amount of the dividend received by each shareholder will be equal to the amount by which the proceeds of the shares sold (which will be C$7.35 per share) exceeds the paid-up capital of the shares sold. It said the paid-up capital is currently approximately $4.32 per share which means the deemed dividend will be approximately $3.03 per share.
“In light of the CRA’s position, the company will report all deemed dividends as required and withhold and remit on all deemed dividends paid to non-residents of Canada as required,” it stated. “Although the ruling is not binding on shareholders, those who wish to report the sale proceeds entirely as “proceeds of disposition” should consult their own tax advisors before doing so.”
Kinaxis Inc. (KXS-T) announced it has formed an alliance with Infosys Ltd. to help customers "modernize their end-to-end supply chains and drive purposeful adoption of machine learning capabilities."
ICC International Cannabis Corp. (WRLD.U-C) announced an exclusive supply and commercial rights agreement with licensed New Zealand medical cannabis company NUBU Pharmaceuticals.
“ICC’s exclusive supply and commercial rights agreement with NUBU successfully catapults the company into yet another high-value medical cannabis jurisdiction," stated David Shpilt, CEO of International Cannabis.
Hexo Corp (HEXO-T; HEXO-N) says its co-founder Adam Miron has decided to step down from his position as chief brand officer, effective today. Mr. Miron co-founded Hexo six years ago with Sebastien St-Louis. He will retain his seat on the board and will continue to serve as president of the board Hexo Med, the company’s Greek affiliate.
MediPharm Labs Corp. (LABS-X) announced that it has received conditional approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange.
“This is an important step for the MediPharm Labs team and our shareholders,” said Patrick McCutcheon, CEO MediPharm Labs. “We have achieved significant growth and strong performance since we first began trading last October to become a top revenue-generating cannabis company in Canada.”
More to come