Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Stelco Holdings Inc. (STLC-T) announced its subsidiary Stelco Inc. has withdrawn its previously announced proposed offering of approximately US$300-million in aggregate principal amount of senior secured notes, citing “current bond market conditions.”
Aleafia Health Inc. (ALEF-T) announced it’s expected to deliver the first profitable quarter in the company’s history in the third quarter, which the company called “a major milestone.”
"This will mark our second consecutive quarter featuring both substantial expense reductions and increased revenues as we continue to drive towards sustainable, compliant growth that will deliver real benefits to our stakeholders,” said Aleafia Health CEO Geoffrey Benic.
The company also said it won't go ahead with a December special resolution of shareholders that authorized the board to complete a share consolidation on the basis of one post-consolidation share for up to every four common shares currently issued and outstanding.
Melcor Real Estate Investment Trust (MR.UN-T) announced that its president and CEO Andrew Melton will step down Oct. 1 and will remain a member of the board. Darin Rayburn will become president and CEO effective the same date.
Mr. Rayburn has over 25 years of experience in commercial real estate and was instrumental in the formation and initial public offering of the REIT, the company said. He served as the REIT’s CEO until April 15, 2017 when he was appointed president and CEO of Melcor.