Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Rupert Resources Ltd. (RUP-X) announced a non-brokered private placement with Agnico Eagle Mines Ltd. (AEM-T; AEM-N). The arrangement sees Agnico receive 9.9 per cent of the company’s shares on a non-diluted basis, and warrants to acquire an additional 11,543,704 common shares, representing an aggregate of 16.1 per cent of the shares on a partially diluted basis.
Agnico subscribed for 15,391,605 units of the company at a subscription price of 85 cents per unit for gross proceeds to Rupert of about $13.1-million. Rupert said the proceeds will be used to continue the exploration of its Pahtavaara project in Northern Finland.
Aecon Group Inc. (ARE-T) announced that Fraser Crossing Partners, a joint venture with the company and Acciona, has reached financial close on the Pattullo Bridge Replacement Project in B.C. The total contract is valued at $967.5-million, the company stated.
"This award adds another signature bridge project to Aecon's strong backlog, further diversifying our presence in Western Canada and underscoring our preeminent reputation as a partner-of-choice for delivering critical infrastructure projects nationwide," stated Aecon CEO Jean-Louis Servranckx.
Firm Capital Property Trust (FCD.UN-T) announced the acquisition of a 50-per-cent interest in two industrial properties in Edmonton and Leduc, Alta., for $10.7-million. The trust’s portion of the acquisition price is approximately $5.4-million. The company said the portfolio is being financed through existing cash resources, including the trust’s credit facility.
mCloud Technologies Corp. (MCLD-X) announced it has signed an expression of interest to acquire BuildingIQ (BIQ-A), a cloud-based building technology provider founded in Australia with offices in the United States. “BuildingIQ is a highly complementary business to our own AssetCare segment for smart buildings,” said Russ McMeekin, mCloud’s CEO.
MORE TO COME