Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Cascades Inc. (CAS-T) announced the acquisition Orchids Paper Products Co., following the approval by the United States Bankruptcy Court for the District of Delaware, for US$207-million. Cascades said the acquisition will be financed by the company’s credit facilities.
The assets to be acquired include the Barnwell, S.C. and Pryor, Okla. operations, as well as certain assets, the supply and other commercial arrangements with Fabrica de Papel San Francisco, S.A. de C.V. based in Mexicali, Mexico, and certain of its affiliates, the comapny stated.
"This acquisition is very well aligned with our strategic plan and supports our efforts to position our tissue platform for long-term growth," stated Cascades CEO Mario Plourde.
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Altus Group Limited (AIF-T) announced it has acquired One11 Advisors, a real estate software consulting services firm. The price wasn’t disclosed in the release.
Carl Farrell, president of Altus Group, stated that One11′s experience "strengthens Altus Group’s stated goals of providing more industry integration as we deliver a cloud-based platform that will address the data and analytics needs of the industry
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Western Forest Products Inc. (WEF-T) announced the company, as well as some of its contractors, have been served with 72-hour strike notice from the United Steelworkers (USW) Local 1-1937 in relation to some of its operations in B.C.
“We are disappointed that the union has chosen to serve us with strike notice," stated CEO Don Demens. “We remain hopeful that a mediator can get us back to the bargaining table to negotiate an agreement that creates certainty for our employees, customers, and the communities where we operate, as has been done in the northern and southern interior of British Columbia.”
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Just Energy Group Inc. (JE-T) announced that its wholly-owned subsidiaries, Just Energy Ontario L.P. and Just Energy (U.S.) Corp. have completed an increase of their senior secured credit facility to $370-million from $ 352.5-million.
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TransCanna Holdings Inc. (TCAN-C) is buying Lifestyle Delivery Systems Inc. (LDS-C) for about $51.7-million in common shares of TransCanna “and the amount resulting from a fixed exchange ratio of one TransCanna common shares for every 10 LDS common shares.”
"We believe that the amalgamation of our two companies will ultimately yield a value greater than the current individual values of LDS and TCAN," stated LDS CEO Brad Eckenweiler in a release.
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HIVE Blockchain Technologies Ltd. (HIVE-X) announced a settlement with Genesis Mining, “which positively resolves prior misunderstandings and disagreements.”
The agreement was reached “with a focus on initiatives which improve communication, transparency and mutually beneficial cooperation between Genesis and HIVE,” the company stated. “Operationally, HIVE and Genesis will reboot HIVE’s 20.4 Megawatt facility in Sweden with 14,000 GPUs mining Ethereum,” the release states. “HIVE will continue to receive 300 Petahash of cloud-based ASIC Bitcoin mining capacity from Genesis.”
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Flower One Holdings Inc. (FONE-C) announced a debt financing agreement with RB Loan Portfolio II, LLC for up to US$30-million. “With the completion and full planting of our flagship 400,000 square foot greenhouse, we are now in a continuous harvest cycle with our Nevada operations,” said chief financial officer, Geoff Miachika. “This financing will principally support the acceleration of Flower One’s processing, finished goods, and high-volume packaging capabilities, leveraging our adjoining 55,000 square foot production facility to introduce and facilitate the Nevada product launches of our growing portfolio of Brand Partners.”
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Clairvest Group Inc. (CVG-T) announced an investment in New York-area construction equipment rental provider Durante Rentals “to support the recapitalization of the company.”
Durante’s co-founder and CEO, Anthony Durante, is a significant shareholder alongside Clairvest, the company stated. "The opportunity was originated through Clairvest’s 10-year domain effort in the equipment rental space," it stated.
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Endeavour Silver Corp. (EXK-N; EDR-T) announced a fatal accident at the Bolanitos mine in Guanajuato, Mexico on June 29. The company said a worker was killed by falling rock. “Endeavour personnel immediately followed mine rescue protocols to close the mine, rescue the injured, inform the family and authorities and conduct a detailed investigation,” the company stated in a release adding that it “emphasizes safety as the top priority in its mining operations. The investigation conclusions and recommendations will be reviewed with key mine-site management and workers at each of Endeavour Silver’s operations this week by Endeavour’s vice president of operations in order to better understand what more can be done to improve safety performance.”