Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news
Well Health Technologies Corp. (WELL-T) announced an agreement to acquire the assets of INLIV Inc., a health care provider in Calgary specializing in consumer preventative health, corporate and executive health, primary care, cosmetics, fitness, and integrated health services.
Well said it will pay $1.6-million in cash, shares or a combination of cash and a 120-day general holdback amount of $240,375 payable in cash, shares or a combination.
The acquisition includes two locations in Louisiana, representing the 19th state of service for Quipt, the company stated.
The company said the acquisition will increase its annual revenues by approximately US$6.5-million.
Bitfarms Ltd. (BITF-T) announced the sale of 3,000 Bitcoin (BTC) for approximately US$62-million and closed on its previously announced US$37-million in new equipment financing with NYDIG ABL LLC (NYDIG). The company said the moves improved corporate liquidity by approximately US$100-million.
“This brings total BTC holdings to 3,349, inclusive of month-to-date production, which is currently averaging about 14 BTC per day,” it stated, adding that a portion of the proceeds will be used to rebalance its debt by reducing its BTC-backed credit facility with Galaxy Digital LLC (Galaxy) a further US$28-million from US$66-million to US$38-million.
Step Energy Services Ltd. (STEP-T) updated its second-quarter guidance, estimating revenue to range between $250-million and $265-million. “For context, estimated top-line revenue in the current quarter may be on track to be the highest in the company’s history,” it stated. The estimate is above expectations of $203.6-million for the quarter ended June 30, according to S&P Capital IQ.
Adjusted EBITDA is expected to range between $42-million to $50-million the company stated. The expectation is for adjusted EBITDA of $25.6-million.
The estimates compare to $107.5-million in revenue and $11.7-million of adjusted EBITDA ($10.6-million net loss) generated for the second quarter last year, the company stated.
Taat Global Alternative Inc. (TAAT-CN) announced the appointment of Michael Saxon as its CEO and board member. “With considerable experience in attaining profitable market penetration for tobacco products in the United States and several international markets, Mr. Saxon is expected to be instrumental to the company’s ability to scale the footprint of Taat at a global level,” the company stated.
It said Setti Coscarella has resigned from his positions as CEO and a director of the company, effective immediately. He will remain available to the company as an advisor.
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