Skip to main content

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

HEXO Corp. (HEXO-T; HEXO-N) announced an at-the-market equity program that allows it to issue up to $34.5-million of common shares to the public from time to time, at the company’s discretion.

The company said in a release that it expects to use the net proceeds for general corporate purposes, which may include, working capital, capital expenditures, debt repayments and potential future acquisitions.

**

Polaris Infrastructure Inc. (PIF-T) announced that it signed a memorandum of understanding (MOU) to acquire 100 per cent of the equity of a Panama-based 10 MW run-of-river hydro project called Chuspa from Navitas Holdings Inc.

The MOU states that Polaris has the option to acquire the equity for "nominal upfront consideration," which expires on Dec. 31. If Polaris goes ahead, it will invest the required equity capital to complete the project, estimated to be about US$15-million to US$20-million.

CEO Marc Murnaghan said the MOU is structured in a way that enables the company "to ensure that we are confident that key risks associated with COVID-19 can be managed before we commence construction of the project and close the acquisition. We are optimistic this can be done in the coming months."

**

Quarterhill Inc. (QTRH-T) says its Wi-LAN Inc. subsidiary has been awarded an additional amount of US$23.75-million in pre-judgment interest with regards to litigation with Apple Inc.

"Following a jury verdict win on January 24, 2020 of US$85.23-million in a damages-only re-trial in the United States District Court for the Southern District of California, the Court ruled late yesterday on all post-trial motions and entered final judgment in favor of WiLAN, maintaining the full jury verdict and denying Apple's motions for retrial or lowering the damages award," the company stated in a release on Wednesday.

It also said the court also awarded WiLAN the additional amount mentioned above, putting the total award in the final judgment at US$108.98-million. WiLAN also said it’s entitled to post-judgment interest from June 16 until the date this final judgment is satisfied and said there are additional royalties for products that Apple released “during the pendency of the litigation that will have to be accounted for separately.”

**

Alaris Royalty Corp. (AD-T) announced that it has invested a total of US$17-million ($23.1-million) into a new partner, Carey Electric Contracting, LLC. The investment consists of a US$16.1-million investment in preferred equity as well as an investment of US$0.9-million in exchange for a minority ownership of the common equity in Carey. The company said the Carey contribution results in an anticipated first-year increase of approximately 10 cents (Canadian) and 4 cents per share of revenue and net cash from operations respectively.

**

Canfor Corp. (CFP-T) announced that it’s 70-per-cent-owned subsidiary, Vida Group, has entered into an agreement to purchase three sawmills located in Sweden from Bergs Timber for a purchase price of $43-million plus working capital.

The three mills will add approximately 215 million board feet to Vida's annual capacity. With additional investment, Vida anticipates the production capacity of the mills can be increased to 300 million board feet, the company stated.

After taking into account this additional production capacity, Canfor said Sweden represents 22 per cent of its global operating platforms, plus 43 per cent in British Columbia, 31 per cent in the Southern United States and 4 per cent in Alberta.

**

**

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Report an editorial error

Report a technical issue

Editorial code of conduct

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 27/03/24 3:59pm EDT.

SymbolName% changeLast
PIF-T
Polaris Infrastructure Inc
+1.32%11.48
CFP-T
Canfor Corp
+1.51%17.48
QTRH-T
Quarterhill Inc
+0.56%1.79

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe