Skip to main content
The Globe and Mail
Support Quality Journalism.
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to
Just $1.99per week for the first 24weeks
Just $1.99per week for the first 24weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(}function setPanelState(o){dom.root.classList[o?"add":"remove"](,dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); } //

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Catalyst Capital Group Inc. has launched a bid for shares in Hudson’s Bay Co. (HBC-T) to rival a contentious $1-billion privatization offer from the department store chain’s executive chairman.

Under the proposal, Catalyst, led by Toronto financier Newton Glassman, plans to offer $10.11 a share in an effort to secure a majority of the shares not controlled by a group led by Richard Baker, HBC’s chairman. Catalyst will offer up to $150-million for as many as $14.8-million shares, it said in a statement.

Story continues below advertisement

In June, Mr. Baker announced he was leading a group offering $9.45 to take the company private. It is best known for its namesake department stores across Canada and the Saks Fifth Avenue banner in the United States. It has been restructuring its operations by selling properties and closing unprofitable stores in Europe and North America.

Mr. Baker has said he has the support of 57 per cent of HBC shareholders, including such investors Rhone Capital LLC and office-sharing company WeWork Property Advisors. A special committee of HBC’s board is currently evaluating Mr. Baker’s offer along with financial and legal advisers. A takeover circular has yet to be filed.

HBC stock closed at $9.90 on the Toronto Stock Exchange on Monday, as investors wagered a higher bid could be in the offing. Catalyst announced its proposal after the market closed.

- Jeffrey Jones


SSR Mining Inc. (SSRM-Q; SSRM-T) announced that it will acquire the remaining 25-per-cent interest in Puna Operations Inc. from Golden Arrow Resources Corp. (GRG-X) for $34-million.

"This is a positive deal for both parties, in that it allows SSR Mining to consolidate our ownership in Puna Operations and streamline our reporting structure, while benefiting Golden Arrow by providing funding to pursue its exploration projects, eliminating its debt obligation to us, and cancelling our shares in Golden Arrow," stated CEO Paul Benson. "The Transaction provides SSR Mining with near-term low-risk silver production growth, while allowing Golden Arrow shareholders liquidity and exposure to both Puna Operations and our diversified asset portfolio through ownership of SSR Mining shares."

Story continues below advertisement


CannTrust Holdings Inc. (TRST-T; CTST-N) announced it agreed to waive the exclusivity provision under the brokerage agreement with Kindred Partners Inc., “after months of discussions.” The company said the revised arrangement “will over time allow CannTrust to reduce the expenditures incurred by CannTrust under the brokerage agreement.”


Just Energy Group Inc. (JE-T) announced that it expects an incremental impairment of Texas residential accounts receivable of approximately $45-million to $50-million as of June 30, 2019. The company said the impairment is the result of a previously announced strategic review process where management identified customer enrolment and non-payment issues, primarily in Texas, over the past 12 months. “As management identified these issues, more robust operational controls were put in place, culminating in numerous improvements being implemented during June and July 2019,” the company stated.

“The enrolment and non-payment issues have been remediated and management is confident in the business and operational controls currently in place. These issues will not have a continuing effect on future cash flows,” said Rebecca MacDonald, Just Energy’s executive chair.


Story continues below advertisement

Mainstreet Equity Corp. (MEQ-T) announced third-quarter rental revenues increased 18 per cent to $34.7-million, compared with $29.3-million a year ago. Net operating income increased 17 per cent to $21.3-million, and increased 6-per-cent to $18.4-million on a same-asset basis. Funds from operations increased 29 per cent to $9.3-million, compared with $7.2-million. FFO per basic share increased 21 per cent to 99 cents, compared with 82 cents a year ago.

CEO Bob Dhillon said the third-quarter results are "an indication of a gradual shift in the macroeconomic climate in Alberta and Saskatchewan. Added Mr. Dhillon: “This substantial achievement is the direct result of our counter-cyclical strategy, stretching over the past four years, to create value for shareholders during periods of slow economic growth.”


NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN-T) announced German acquisitions, financing activity, and a $1.6-billion expansion of its Australian healthcare joint venture.

The REIT announced the acquisition of a German medical office building and a rehabilitation hospital for a combined purchase price of approximately $61.5-million. It also reached an agreement in principle to increase the size of its existing Australian healthcare joint venture by $1.6-billion of debt and equity bringing the total JV commitment to $3.4-billion.

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow the author of this article:

Follow topics related to this article:

View more suggestions in Following Read more about following topics and authors
Report an error Editorial code of conduct
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to If you want to write a letter to the editor, please forward to

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

If you do not see your comment posted immediately, it is being reviewed by the moderation team and may appear shortly, generally within an hour.

We aim to have all comments reviewed in a timely manner.

Comments that violate our community guidelines will not be posted.

UPDATED: Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies