Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Just Energy Group Inc. (JE-T) announced it sold all of the shares of Just Energy Japan KK to Astmax Trading, Inc. for a “nominal” amount, “as the business was still in its start-up phase with more liabilities than assets and had fewer than 1,000 customers.”
“The sale of Just Energy Japan further exemplifies the company’s commitment and focus to optimize the organization and concentrate on its North American operations,” said CEO Scott Gahn. “The sale eliminates ongoing funding requirements for the Japanese business, as we continue to focus on our business continuity plans during these unprecedented times and on the health and safety of our employees, customers and communities.”
MCAN Mortgage Corp. (MKP-T) announced its chief financial officer Dipti Patel “has chosen to resign for another opportunity” and will be leaving the company after the first-quarter results are reported and the annual general meeting is held.
"We will be reporting our first-quarter results on May 12... and providing a more detailed update on our operations and business at that time," the company stated.
Sierra Wireless (SWIR-Q; SW-T) announced that Samuel Cochrane will join the company as chief financial officer, starting May 6. He most recently served as a vice-president of Motorola Solutions Inc. and before that as the CFO of Avigilon, which was acquired by Motorola in 2018.
TerrAscend Corp. (TER-C) announced the appointment of Jason Ackerman as CEO and plans to relocate its financial operations to its U.S. headquarters in New York City. As part of the move, Toronto-based Adam Kozak will step down as chief financial officer and New York-based company comptroller, Dr. Stephen Baranowski, will assume the role of interim CFO at the end of April. “This comes as TerrAscend continues to build out its U.S. based leadership and operations teams and focuses on its growing footprint and opportunity in the rapidly expanding U.S. market,” the company stated.
Mr. Ackerman joined the TerrAscend Board of Directors as Executive Chairman in November 2019 and was appointed interim CEO in January.
Operations at Lamaque were moved to care and maintenance on Mar. 23, 2020 to comply with the Quebec provincial government-mandated restrictions to address the COVID-19 situation in the province, the company said.
Organigram Holdings Inc. (OGI-T) reported second-quarter revenue of $23.2-million compared to $26.9-million in the prior-year period. The net loss was $6.8-million or 4 cents per share compared to a net loss of $6.4-million or 5 cents a year ago.
Analysts were expecting revenue of $24.6-million and a loss of 2 cents in the latest quarter.
GMP Capital Inc. (GMP-T) announced an extension of the 30-day contractual negotiated period for its previously announced transaction to consolidate the ownership of Richardson GMP Limited, in light of the COVID-19 pandemic.
It said the negotiation period will be extended by 60 days following the date that the Declaration of Emergency ordered by the Lieutenant Governor of Ontario has been withdrawn or terminated by the Ontario government.
“The parties are continuing to work toward entering into a definitive agreement and remain hopeful that they will do so in the future,” the company stated.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.