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

Canfor Corp. (CFP-T) announced it will be curtailing operations at all of its British Columbia sawmills at the end of December, “due to the high cost of fibre and continued weak lumber markets,” which it said are making the operating conditions in the province “uneconomic.”

The company said the curtailments will remove almost 58 million board feet of production output and are in addition to all previously announced capacity reductions.

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Park Lawn Corp. (PLC-T) announced an increase to its syndicated bank financing arrangement to $250-million from $175-million as well as the addition of CIBC to the syndicate led by National Bank of Canada and including Bank of Montreal, Bank of America and Toronto-Dominion Bank.

"The additional credit will provide PLC with further flexibility as it continues to pursue its growth strategy," the company stated. "In particular, the revolving credit facility is expected to support PLC's ability to capitalize on organic projects and acquisition opportunities as they arise, while maintaining a prudent approach to leverage."

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Morguard Corp. (MRC-T) announced it will issue $225-million aggregate principal amount of series F senior unsecured debentures with an interest rate of 4.2 per cent per year that will mature on Nov. 27, 2024.

The debentures are being offered on an agency basis by a syndicate of agents with RBC Capital Markets and TD Securities Inc. acting as joint bookrunners and co-lead agents, the company said.

The net proceeds will be used "for the repayment of certain indebtedness incurred in the ordinary course."

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Green Growth Brands Inc. (GGB-C) reported revenue of US$12.7-million for its fiscal first quarter ended Sept. 28, an increase of 77 per cent over the prior quarter and compared to no revenue for the same period last year.

Its net loss was US$30-million or 15 cents US per share versus a loss of US$2.8-million or 3 cents US a year ago. Adjusted EBITDA was a loss of US$15.2-million versus a loss of US$2.7-million a year ago.

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Calian Group Ltd. (CGY-T) reported fourth-quarter revenue was a quarterly record of $90.9-million and up 16 per cent from the same period in the prior year. Analysts were expecting revenue of $92-million.

Net profit for the fourth quarter was $8.5-million or $1.08 per share, an increase from $4.3-million or 55 cents in the same quarter last year.

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Profound Medical Corp. (PROF-Q; PRN-T) announced Health Canada approved its Tulsa-Pro system for the “ablation of low-to-intermediate risk organ-confined prostate cancer.”

The company says the system "combines real-time Magnetic Resonance Imaging (MRI) with robotically-driven directional thermal ultrasound and closed-loop temperature feedback control software to deliver predictable physician-prescribed ablation of whole-gland or partial prostate tissue."

Knight Therapeutics Inc. (GUD-T) is Profound’s exclusive distributor for Tulsa-Pro in Canada, the company said. Profound said the commercial opportunity for Tulsa-Pro in Canada “will be modest until such time that government reimbursement is established.”

“The positive Health Canada decision is key to our global expansion strategy ... as many major market jurisdictions, such as China, have a ‘country of origin’ approval requirement for medical devices,” Goldy Singh, Profound’s vice president of regulatory affairs said in a release.

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Planet 13 Holdings Inc. (PLTH-C) reported third-quarter revenues of $16.7-million, which was in line with expectations and compared to $4.9-million a year earlier. The company said its net loss of $1.7-million compared to a net loss of $900,000 a year earlier.

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The Green Organic Dutchman Holdings Ltd. (TGOD-T) announced a $22-million bought-deal financing. It has an agreement with a syndicate of underwriters that have agreed to purchase about 29 million units at 75 cents each. Each unit includes one common share and one-half of one common share purchase warrant of the company exercisable to for 36 months at a price of $1 per warrant. The company said it intends to use the proceeds to complete the construction of its processing facility in Ancaster, Ont. and for general corporate purposes.

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Cresco Labs (CL-C) announced the signing of a binding agreement for the sale-and-leaseback of two properties in Ohio and Michigan, for total additional non-dilutive funding of approximately $38-million. The company also announced the mutual termination of the equity purchase agreement, announced in March, where a subsidiary would have acquired the ownership interests or assets of VidaCann Ltd.

“We recognize that responsibly allocating our shareholders’ capital is fundamental to long-term success. While it sometimes means making tough decisions, we are committed to executing on a superior capital agenda, responsibly accelerating the top and bottom-line, executing thoughtful and accretive M&A transactions, and generating efficiencies as we scale,” said Cresco Labs CEO and co-founder Charlie Bachtell. “With the flexibility to continue to leverage non-dilutive funding options like sale-lease-back agreements, we are well-positioned to continue executing on our strategy to build the most important, enduring company in U.S. cannabis.”

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Slang Worldwide Inc. (SLNG-C) reported third-quarter revenue of $9.3-million an increase from $1.6-million in the same quarter last year. Net income of $393,000 compared with a net loss of $16.1-million a year ago.

The company also announced a non-brokered private placement for aggregate gross proceeds of approximately $15-million. The company said investors include existing institutional shareholders of the company and an additional investment by investor and former Canopy Growth Corp. CEO Bruce Linton. The company said it intends to use the proceeds “to support strategic growth opportunities and for general corporate purposes.”

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