Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Aecon Group Inc. (ARE-T) announced that Traylor-Aecon General Partnership, a consortium that includes Aecon (40 per cent) and Traylor Bros Inc. (60 per cent) has been awarded a $288-million contract by the Greater Vancouver Water District of Metro Vancouver for the Annacis Water Supply Tunnel, Fraser River Crossing project in B.C.
Aecon’s share of the contract will be added to its construction segment backlog in the first quarter of 2022, the company stated.
“The proposed acquisition of Tintic further accelerates Osisko Development on its path towards becoming a mid-tier gold miner and represents a unique opportunity to significantly enhance our portfolio of operations by adding a high-grade producing asset in a world-class jurisdiction,” stated CEO Sean Roosen.
Osisko Gold Royalties Ltd (OR-T) announced that its subsidiary, Osisko Bermuda Limited, has signed a term sheet with Osisko Utah LLC, a wholly-owned subsidiary of Osisko Development Corp. (ODV-X), with respect to a US$20-million to $40-million metals stream. It said the agreement will facilitate ODV’s acquisition of the high-grade Trixie Mine as well as mineral claims covering more than 17,000 acres in Central Utah’s historic Tintic Mining District.
The company also stated that “it takes exception to ePropelled Inc.’s unmerited patent infringement lawsuit and its inaccurate statement that Exro did not respond to ePropelled’s inquiry to Exro concerning ePropelled’s patent.”
CEO Sue Ozdemir stated in a release that Exro respects other companies’ intellectual property rights, “but we are also incredibly confident in our ability to defend our technology.”
Mind Medicine Inc. (MMED-NEO) announced today that the U.S. Food and Drug Administration (FDA) has cleared the company’s investigational new drug (IND) application, allowing its Phase 2b dose-optimization trial of MM-120 for the treatment of generalized anxiety disorder (GAD) to proceed.
“The previously announced clinical hold on the IND was lifted following MindMed’s rapid responses for additional information related to the participant monitoring protocol in the upcoming study,” it stated in a release.
The company said it’s working with study investigators and clinical trial sites to prepare for participant enrollment, which is expected to start soon.
“FDA clearance of our Phase 2b clinical trial represents a major milestone, for MindMed and for the industry as a whole,” said CEO Robert Barrow. MindMed is a clinical-stage biopharmaceutical company developing psychedelic-inspired therapies for the treatment of brain-based disorders.
Goodfood Market Corp. (FOOD-T) announced a $30-million bought-deal offering of convertible unsecured debentures. The company said the net proceeds will be used to help it expand its on-demand grocery and meal solutions network.
“The significant acceleration of our on-demand strategy will enable Goodfood to gain outsized market share of the rapidly growing online grocery market, accelerating our growth profile,” stated CEO Jonathan Ferrari in a release. “This faster rollout will also serve to accelerate our positive margin improvement trajectory as we build density and economies of scale in our operating and marketing investments.”
Dr. Feng is the founder of the company and served as CEO until April 27, 2020. Dr. Feng has stepped down as the chairman of the board and Terry Salman has been appointed as the chairman, the company stated.
“Jonathan’s extensive capital markets experience and industry relationships are highly complementary to our existing investment, development and asset management teams,” stated CEO Michael Waters.
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