Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Trilogy Metals Inc. (TMQ-T) reported a loss of $4.3-million or 3 cents per share in the first quarter ended Feb. 28 compared to a loff os $2.9-million or 3 cents a year earlier. The expectation was for a loss of a penny per share.
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Ballard Power Systems Inc. (BLDP-Q; BLDP-T) announced its European division has signed an equipment supply agreement with Norled A/S, one of Norway’s largest ferry and express boat operators, to provide two next-generation 200 kilowatt (kW) modules. They will be used to power a hybrid ferry planned to begin operating in 2021, the company stated.
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Captor Capital Corp. (CPTR-C) announced it has a letter of intent (LOI) to form a joint venture company with Green Buddha Group LLC, a company with “significant cannabis assets” in Michigan.
"In accordance with the terms of the LOI, Green Buddha will transfer to the joint-venture company Michigan licenses to operate 20 retail medical cannabis retailers, two licenses to operate a cannabis manufacturing, processing, and extraction facility, and eight licenses to operate a 325,000 sq. ft. cannabis cultivation facility," the company stated. Captor said it agreed to provide the joint-venture company a convertible loan to fund the exploitation of the Michigan licenses and the build-out and operation of the joint venture company's retail processing and cultivation facilities.
“Our new joint venture with Green Buddha Group will allow us to strengthen our primary strategic focus of acquiring revenue generating cannabis-based companies with great potential for profit and with top quality operations and an experienced management team,” said Captor Capital CEO, John Zorbas. “This investment will also give Captor entry into the potentially lucrative cannabis market in the state of Michigan.”
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Cansortium Inc. (TIUM.U-C), a global medical cannabis company, announced a private placement of US$25-million of convertible debentures. It has an agreement to issue the units to Canaccord Genuity Corp. and Paradigm Capital Inc. at an issue price of US$1,000 each. “The net proceeds of the offering will be used for continued expansion of the company’s U.S. based markets, including Florida, Puerto Rico, Texas, Pennsylvania and Michigan and for general working capital purposes,” the company stated.
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CRH Medical Corp. (CRH-T; CRHM-N) announced the appointment of Dr. Tushar Ramani as CEO of the company, replacing outgoing CEO Edward Wright. Dr. Ramani, a 30 year veteran of the anesthesia industry, will also join the company’s board as a director, in place of Mr. Wright, the company stated.
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