Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
BTB Real Estate Investment Trust (BTB.UN-T) announced a $25-million bought-deal financing. The REIT said it has an agreement with a syndicate of underwriters to issue to the public about 5.3 million trust units at a price of $4.67 each. The units closed at $4.88 on Monday.
The net proceeds will be used to finance the acquisition of two properties in Montreal and to repay a portion of the amounts outstanding on BTB’s acquisition line of credit, the REIT said.
Valens GroWorks Corp. (VGW-C) announced it has appointed Jeffrey Fallows as its president, effective June 1. Prior to joining Valens, Mr. Fallows was a managing director at AltaCorp Capital Inc. where he was the head of the life sciences and diversified industries investment banking teams, the company stated.
Medicure Inc. (MPH-X) reported revenues of $4.9-million for the first quarter ended March 31 compared to $6.1-million for the same period last year. Its net loss was $2.8-million or 18 cents per share compared to net income of $1.4-million or 9 cents per share a year ago.
"This is a transformational acquisition for NFI to become a global bus manufacturer," said Paul Soubry, NFI's CEO. "ADL is the UK's number one bus manufacturer and the number one global producer of double-deck buses, with an established international presence and is recognized as a leader known for innovative products and a commitment to quality and service. We're thrilled to have ADL join the NFI family in a transaction that we believe will drive our business forward by combining joint strengths in engineering, sales, new product development and manufacturing with NFI's expertise in Operational Excellence, insourcing, fabrication and systems management."
Atlantic Power Corp. (AT-N; ATP-T) announced an agreement to sell its Manchief power plant to Public Service Co. of Colorado for $45.2-million. PSCo, a subsidiary of Xcel Energy, Inc. (XEL-Q), is the current customer under the Manchief Power Purchase Agreement (PPA). Manchief is an approximately 300-megawatt gas-fired peaking facility that entered commercial operation in July 2000.
“We are pleased to announce this transaction, which is a positive financial outcome for Atlantic Power and also helps our customer to meet its power needs,” said James J. Moore, Jr., CEO of Atlantic Power.