Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Viemed Healthcare, Inc. (VMD-Q; VMD-T), a Louisiana-based home medical equipment supplier that provides post-acute respiratory care services in the United States, announced it’s increasing its previously issued net revenue guidance for the first quarter of 2020.
It said first-quarter 2020 net revenues will be about US$23.7-million to US$23.9-million. Analysts were expecting revenue of US$22.1-million. It also said sales of previously used equipment will be recognized in gain on disposal of property and equipment and is currently estimated to be about $1.4-million to $1.5-million.
Mr. Yemenidjian will continue to work with the company for the next six months to ensure a smooth transition, "particularly focusing on Green Thumb’s business in Nevada and California," the company stated.
Points International Ltd. (PTS-T; PCOM-Q) announced that it has temporarily suspended share buybacks and has taken “aggressive expense mitigation steps” and “will continue to limit or cease all discretionary spending” as it manages through the impacts of the COVID-19 pandemic.
The company has also suspended its previously issued full-year 2020 outlook.
Organigram Holdings Inc. (OGI-Q; OGI-T) announced the temporary layoff of approximately 45 per cent of its workforce “primarily to help boost COVID-19 containment efforts representing approximately 400 employees.”
“These are unprecedented and trying times,” stated CEO Greg Engel. “Our priority right now is to make sound strategic decisions that are in the best interests of our people and which will contribute to the long-term sustainability of the company.”
The company also said it believes it has “sufficient inventory levels to supplement reduced harvest plans and enough contingency staff to keep packaging capacity intact in order to meet anticipated demand for the short term.”
People Corp. (PEO-X) announced an amended to its agreement with a syndicate of underwriters and has agreed to increase the size of its previously announced $20-million bought-deal private placement offering to $22-million. The underwriters have agreed to purchase about 3.08 million shares for $7.15 each. It said the net proceeds will be used to fund growth initiatives, including future acquisitions, and for general corporate purposes.