Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Dye & Durham Ltd. (DND-T) announced that the Ontario Securities Commission has issued an order exempting the company from complying with the requirement that it first take up all of its common shares deposited under its currently underway substantial issuer bid before extending the expiration date of the offer, if it does an extension.
Under the offer, Dye & Durham said it will buy back up to $150-million of its outstanding common shares via a modified Dutch Auction. It allows shareholders to select a price within a range of not less than $12.50 and not more than $15.
Westport Fuel Systems Inc. (WPRT-T) announced a collaboration with Johnson Matthey, a sustainable technologies company, to develop an emissions after-treatment system tailored to Westport’s proprietary H2 HPDI hydrogen fuel system, with the goal of reducing or eliminating emissions.
“The agreement focuses on combining Johnson Matthey’s technologies and products with Westport’s H2 HPDI fuel system to create the lowest possible vehicle tailpipe emissions,” the company stated, adding that it will test and develop the Johnson Matthey prototype system at its engineering center in Vancouver.
Hut 8 Mining Corp. (HUT-T) announced the appointment of Shenif Visram as its chief financial officer, effective immediately. Mr. Shenif is replacing CFO Shane Downey, who the company said is “moving on to pursue new opportunities after 20 months with the organization.”
Savaria Corp. (SIS-T) announced that its CEO Marcel Bourassa has filed a notice of intention to distribute securities in connection with his proposed sale of up to 1.7 million common shares, or about 2.64 per cent, of the company. The shares are expected to be sold through the Toronto Stock Exchange and may also be sold or transferred privately, the company stated.
“The common shares are proposed to be sold by Mr. Marcel Bourassa for personal reasons, for family estate planning purposes and in support of philanthropic endeavours,” the company stated, adding Mr. Bourassa will continue to be its largest shareholder.
The Lion Electric Co. (LEV-T) announced a US$50-million offering of units in the United States and Canada. The company said it will issue 19,685,040 units at a price of US$2.54 each. Each unit will include one common share and one common share purchase warrant exercisable at a price of US$2.80 each for five years.
Power Sustainable Capital Inc., a subsidiary Power Energy Corp., will purchase units at the offering price representing a total purchase price of approximately US$25-million.
The company said it plans to use the net proceeds “to strengthen its financial position and allow it to continue to pursue its growth strategy,” including its capacity expansion projects in Illinois and Quebec.