Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Diversified Royalty Corp. (DIV-T) said it generated $7.2-million of royalty revenue and management fees in the fourth quarter compared to expectations of $7.3-million and versus revenue of $6.9-million a year earlier.
Net income was $1.1-million compared to net income of $3.5-million a year ago. “The decrease in net income for Q4 2018 was primarily due to the Sevenson litigation settlement, the fair value adjustment on interest rate swaps and higher interest expense partially offset by higher revenues and lower income tax expense,” the company stated.
Clearwater Seafoods Inc. (CLR-T) said it reached a “landmark agreement” on Arctic Surf Clam with 14 First Nations communities in Nova Scotia and Newfoundland and Labrador “to the benefit of all parties.”
“The agreement forges a 50-year partnership that protects existing jobs in the Arctic Surf Clam fishery while creating meaningful economic, employment and capacity building for the fourteen First Nations that are adjacent to the clam resource,” the company stated.
48North Cannabis Corp. (NRTH-X) announced a $25-million bought-deal equity financing. It has a letter of engagement with a syndicate of underwriters that will purchase 18,382,400 units of the company at $1.36 each.
The company said it intends to use the net proceeds to fund inventory and for working capital and general corporate purposes.