Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Standard Lithium Ltd. (SLI-X), a technology and lithium project development company, announced that Koch Strategic Platforms, a subsidiary of Koch Investments Group, will make a US$100-million investment in the company through a direct private placement.
Standard Lithium said it will issue 13,480,083 common shares at a price of $9.43 (US$7.42) each.
“In addition to the new capital, the Company, along with several Koch Industries subsidiaries, are exploring strategic opportunities to work collaboratively in several key areas,” it stated.
The net proceeds of the US$100-million direct investment will be used by the company to advance the first commercial project proposed for the Lanxess facility; accelerate and expand the development of the South West Arkansas Lithium Project and continue to develop and commercialize modern lithium extraction and processing technologies.
Lucara Diamond Corp. (LUC-T) said it expects diamond revenue to range from US$185-miillion to US$215-million for its 2022 fiscal year. That compares to 2021 guidance of US$195-million to US$210-million.
The revenue guidance doesn’t include any estimated contributions of revenue from “large, exceptional diamonds that have historically formed a regular part of Karowe’s production profile, the company stated.
Diamond sales for fiscal 2022 are expected to range between 300,000 to 340,000 carats versus 350,000 to 390,000 carats estimated for fiscal 2021.
“The business environment for diamonds and diamond jewellery is the healthiest we’ve seen in several years, spurred on by an improvement in global supply and demand fundamentals, a trend which is expected to continue,” stated CEO Eira Thomas.
Poet Technologies Inc. (PTK-X) reported a third-quarter net loss of US$3.5-million or a penny per share in line with expectations and compared to a similar net loss a year ago. There was no revenue reported for the quarter.
E-commerce company Pivotree Inc. (PVT-X) reported third-quarter revenue of $16-million, a 1.4-per cent decrease from the prior-year period and in line with expectations. Included in total revenue is one month of revenue of $700,000 from the acquisition of Bridge Solutions, the company stated.
Its net loss of $3.3-million was a decline from a net loss of $1-million for the prior-year period.
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