Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
GT Gold Corp. (GTT-X) announced an $8.3-million financing by Newmont Goldcorp Corp. (NEM-N; NGT-T). The financing is a private placement of about 6.9 million common shares priced at $1.20 each. Upon completion of the financing, Newmont Goldcorp will own 14.9 per cent of GT Gold’s outstanding shares, an increase from the 9.9 per cent acquired by Newmont Goldcorp on May 29.
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Exco Technologies Ltd. (XTC-T) announced fourth-quarter sales of $121.8-million down from $139.5-million a year ago and ahead of expectations of $118.9-million. Net income was $6.8-million or 17 cents per share versus net income of $11.6-million or 27 cents a year ago. Analysts were expecting earnings of 19 cents.
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Boralex Inc. (BLX-T) announced the closing of agreements to refinance almost all of its wind farm operations in France, for a total of $1.7-billion. It said the agreements are divided among three credit agreements maturing respectively in 2034, 2036 and 2040.
“This is the largest refinancing agreement in the renewable energy sector in France and without question the largest refinancing arrangement ever for Boralex,” the company stated, adding that the transaction immediately makes available financial resources totalling more than $178 million “achieved primarily by grouping together assets that were previously financed individually through 30 different credit agreements.”
The company said the amount will be used to reduce its existing corporate credit facility, "resulting in greater capacity to fund the development of future projects across the Corporation."
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American Hotel Income Properties REIT LP (HOT.UN-T) announced that it will acquire a portfolio of 12 Premium Branded hotels for $191-million excluding closing and post-closing adjustments. The 12 hotels, totalling 1,203 guestrooms, are located across the United States and “will significantly strengthen AHIP’s geographic presence in Texas and the Midwest,” the company stated.
“We’re very excited to complete a significant component of our 2019 capital recycling program by adding these 12 high-quality, mostly all-suite focused, recently built select-service hotels to our portfolio of Premium Branded hotels,” said John O’Neill, CEO.
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GDI Integrated Facility Services Inc. (GDI-T) says its Ainsworth Inc. subsidiary has struck an agreement to acquire ESC Automation Inc. along with its U.S. subsidiaries Delta Connects Inc. and New Patriot Energy Inc. for approximately $73.5-million on a debt-free basis, subject to certain closing adjustments including working capital. The acquisition will be funded through GDI’s existing credit facilities, the company stated.
“The combination of ESC and Ainsworth will create a premier building systems and multi-trade facility services provider in Canada, with more than 2,400 employees in every province across the country as well as in five U.S. states,” stated GDI CEO Claude Bigras.