Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Guardian Capital Group Ltd. (GCG-T) announced it will acquire a majority interest in Rae & Lipskie Investment Counsel Inc., a private wealth manager based in Waterloo, Ont.
Under the agreement, Guardian will acquire a 60-per-cent ownership interest in The RaeLipskie Partnership. Current employees of The RaeLipskie Partnership will retain the remaining 40 per cent ownership interest.
George Mavroudis, Guardian’s president CEO, said the transaction will add over $1-billion in assets under management to its private wealth segment “and further extend our regional coverage in key markets.”
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Clairvest Group Inc. (CVG-T) reported a net income of $207-million or $13.75 per share for its fourth quarter ended March 31, up from a net income of $14.8-million or 98 cents a year ago.
“The net income for the fourth quarter of fiscal 2022 reflects a net increase in the fair value of Clairvest’s investee companies and a corresponding increase in carried interest from the CEP Funds, reflecting the developments in various portfolio companies,” it stated.
The company said its book value was $1.8-billion or $78.33 per share for the quarter compared with $972.1-million or $64.58 per share as of Dec. 31 and $857.8-million or $56.96 per share as of March 31, 2021.
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Major Drilling Group International Inc. (MDI-T) announced that it appointed Kim Keating as its next board chair, effective Sept. 8. The announcement comes as current chair David Tennant “expressed a desire to retire,” at the company’s next annual general meeting, the company stated.
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Reliq Health Technologies Inc. (RHT-X) announced that it has signed six new contracts with physician practices, home health agencies and skilled nursing facilities in California, Texas, Florida and Puerto Rico. The company said these clients are expected to add more than 3,500 patients to its platform this year.
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