Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Critical Elements Corp (CRE-X) says it’s raising $5-million in a bought-deal financing. It has an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. to buy 5 million units at $1 each.
The net proceeds will be used to advance the Rose Lithium-Tantalum project, as well as for working capital and general corporate purposes, the company said.
Delta 9 Cannabis Inc. (NINE-X) says it has entered into a non-binding letter of intent to become a preferred supplier of medical cannabis to Pharmasave.
“Following execution of the Letter of Intent, the two companies are jointly working to conclude definitive agreements for supply and distribution of Delta 9′s medical cannabis through Pharmasave pharmacists, pending changes to Canadian legislation that would allow such distribution,” the company stated.
“We believe this agreement with Pharmasave is a critical part of professionalizing the medical cannabis industry, and we are dedicated to providing the best products and service possible to our patients,” said Delta 9 CEO John Arbuthnot.
MORE TO COME