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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news

GoldMining Inc. (GOLD-Tannounced an option agreement with NevGold Corp. (NAU-X) that enables a NevGold subsidiary to potentially acquire a 100-per-cent interest in the company’s Almaden Project in Idaho.

The agreement provides for total cash and/or share consideration to the company from NevGold of up to $16.5-million, which includes a initial consideration of $3-million, additional payments of $6-million to exercise the option and further contingent payments of up to $7.5-million tied to success-based project milestones.


Roots Corp. (ROOT-T) reported a first-quarter loss of $5.3-million compared with a loss of $4.9-million in the same quarter a year earlier, as its total sales rose 15 per cent.

The retailer says the loss amounted to 13 cents per share for the quarter ended April 30 compared with a loss of 12 cents per share a year ago.

Sales totalled $43.1-million, up from $37.3-million in the same quarter last year.

-The Canadian Press


Clarke Inc. (CKI-T) announced that it has acquired the Stanford Inn & Suites located in Grande Prairie, Alta. for $11.6-million. The company said the purchase price implies a proforma cap rate in excess of 14 per cent based on proforma net operating income1.

Clarke said it’s making the acquisition through its subsidiary Holloway Lodging Corp. and that Stanford Inn & Suites will be the fifth hotel owned or managed by Holloway in the Grande Prairie market.


Aura Minerals Inc. (ORA-T) announced that it has amended its dividend policy to semi-annual payments. The company said it will determine the semi-annual cash dividend equal to 20 per cent of its estimated adjusted EBITDA for the relevant six months, “less sustaining capital expenditures and exploration capital expenditures for the same period.”

The company said it would pay a dividend of 14 US cents per common share (approximately US$10-million in total), based on its results for the first six months of 2022. The dividend will be paid on June 28 to shareholders of record as of the close of business on June 23.


Marathon Gold Corp. (MOZ-T) announced that it has received mining leases for the Valentine Gold Project in Newfoundland, which cover the development of the Marathon and Leprechaun deposits and have a term of 20 years. “Receipt of the mining leases is a key milestone in the permitting of mining operations at the project,” the company stated.


Fire & Flower Holdings Corp. (FAF-T) reported sales of $40.9-million for its first quarter ended April 30, representing a decrease of 7 per cent from $44.1-million a year ago. The expectation was for sales of $42.4-million, according to S&P Capital IQ.

Its net loss of $9.9-million compared to a net loss of $61.6-million a year ago.


Reunion Gold Corp. (RGD-X) announced a $20-million bought-deal private placement. The company said it has an agreement with a syndicate of underwriters led by Sprott Capital Partners and Paradigm Capital Inc., that will buy 77 million units for 26 cents each.

The net proceeds will be used for exploration expenditures its projects and for general corporate and working capital purposes.


Guru Organic Energy Corp. (GURU-T) reported that its net revenue in the second quarter ended April 30 increased to $7.6-million, compared to $7.1-million for the same period a year ago. The expectation was for revenue of $8.3-million according to S&P Capital IQ.

Its net loss totalled $4-million or 12 cents per share compared to a net loss of $1.2-million or 4 cents a year ago. The expectation was for a loss of 18 cents in the latest quarter.


Blackline Safety Corp. (BLN-Treported revenue of $16.7-million for its second quarter ended April 30, a 43-per-cent increase from$11.7-million in the same period last year. The expectation was for revenue of $17.6-million, according to S&P Capital IQ.

Its net loss was $14.5-million or 24 cents per share versus a loss of $8.6-million or 16 cents a year ago.

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