Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news
HLS Therapeutics Inc. (HLS-T) announced a product listing agreement with the Quebec Minister of Health and Social Services, for the listing and public reimbursement of Vascepa (icosapent ethyl) on the Public Prescription Drug Insurance Plan, effective May 26.
“This is an important milestone in the commercialization of Vascepa as Quebec is the first province to provide public coverage for the product and it has one of Canada’s largest publicly funded drug plans,” said Gilbert Godin, CEO of HLS.
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Quarterhill Inc. (QTRH-T) announced that John Karnes has been appointed chief financial officer of the company effective June 6. He will replace Steve Thompson, Wi-LAN Inc.’s CFO, who is currently interim-CFO of Quarterhill.
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Knight Therapeutics Inc. (GUD-T) announced exclusive license and supply agreements with Rigel Pharmaceuticals granting Knight the rights to commercialize fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, in Latin America.
Under the terms of the agreement, Rigel will receive an upfront cash payment, with the potential for additional regulatory and commercial milestones, and stepped-up royalties based on tiered net sales, th company stated. In return, Knight receives exclusive rights to fostamatinib” in all potential indications, including chronic ITP, wAIHA, and COVID-19 in Latin America.”
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Arena Minerals Inc. (AN-X) announced a Pastos Grandes technical collaboration agreement with Lithium Americas Corp. (LAC-T).
“The intention of the collaboration agreement is to share technical information and explore opportunities for collaborating on potential development alternatives with the overall objective of optimizing the production profile of the Pastos Grandes basin,” the company stated.
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MedMen Enterprises Inc. (MMEN-CN) announced it has received a summary judgment in its favour on all counts in a lawsuit against Arizona-based Whitestar Solutions, LLC.
The company said in a release that litigation was filed by Whitestar against MedMen in the Superior Court of Arizona, Maricopa County in March 2020, related to a membership interest purchase and sale agreement governing the purchase of EBA Holdings, Inc. dba MedMen Scottsdale.
“Whitestar alleged fraudulent inducement and breach of contract, among other claims, and sought rescission of the underlying transaction or $60,000,000 in alleged monetary damages,” the company stated in the release.
“MedMen consistently maintained that the lawsuit and claims were baseless and without merit – and the judge agreed on all counts, cancelling the upcoming jury trial and stating that ‘no reasonable juror could conclude that Whitestar is entitled to relief on any of those claims.’”
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Resolute Forest Products Inc. (RFP-T) announced the ratification of a four-year collective agreement by Unifor union members at seven of the company’s pulp and paper mills in Canada, following an agreement-in-principle reached on May 15. The seven mills account for about 50 per cent of the company’s total pulp and paper production capacity, it stated.
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Osisko Development Corp. (ODV-X) announced that it has been approved to list its common shares on the New York Stock Exchange. The shares are expected to start trading on the NYSE on May 27.
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4Front Ventures Corp. (FFNT-CN) reported first-quarter revenue of US$26-milllion up from US$23-million a year ago.
Its net loss attributed to shareholders was US$5.9-million or a penny per share compared to a loss of US$11.1-million or 2 US cents a year ago.
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Mind Medicine (MindMed) Inc. (MMED-NE) announced the appointment of Schond Greenway as chief financial officer. The company said he has more than 20 years of experience in investment banking, finance and corporate advisory, and investment analysis in the life sciences sector.
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Farmers Edge Inc. (FDGE-T) announced the departure of its chief technology officer Ron Osborne, effective May 31.
Osborne joined Farmers Edge in 2014 “and championed a culture of continuous innovation,” the company stated, adding that Mr. Osborne will remain involved as a consultant “to ensure a smooth transition.”
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