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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.

Reitmans (Canada) Ltd. (RET.A-X) says its creditors have approved a Plan of Arrangement that will see them receive a distributed $95-million settlement.

The Montreal-based clothing retailer filed for creditor protection and obtained an initial order under the Companies’ Creditors Arrangement Act in May 2020.

That order was later amended and restated until Jan. 28, 2022.

Reitmans says under the Plan of Arrangement, it will distribute an aggregate amount of $95 million to its creditors in full and final settlement of all claims, including an initial payment of up to $20,000 per claim.

Reitmans says it will seek the sanction of the Plan of Arrangement on Jan. 4, 2022.

A list of known creditors as of September 2020, posted online by court-appointed monitor Ernst & Young Inc., shows Reitmans owed a total of $192,656,167 at that time.

- The Canadian Press


Touchstone Exploration Inc. (TXP-T) announced an amended and restated loan agreement with its Trinidad-based lender providing for a $10-million increase in the principal balance to $30-million.

Touchstone said it currently has $15-million of the loan principal balance drawn and anticipates withdrawing the remaining $15-million available balance prior to the end of 2021. “The amended loan agreement provides enhanced financial flexibility at attractive after-tax pricing,” the company stated.


Organigram Holdings Inc. (OGI-T) announced it has acquired an additional $2.5-million of secured convertible debentures in Hyasynth Biologicals Inc., a private biotechnology company working in the field of cannabinoid science. The parties have also amended certain of the debentures’ terms purchased by Organigram from Hyasynth in previous tranches.

“Proceeds of the investment are designated to advance Hyasynth’s production scalability as well as investment into new cannabinoid technologies (including rare cannabinoids), business development efforts and company growth,” the company stated.


IMV Inc. (IMV-T) announced it has appointed Andrew Hall to the role of chief executive officer and director of the board, effective Jan. 1. He has been interim CEO for the past five months, the company said. Mr. Hall was previously the company’s chief business officer, according to his LinkedIn profile.


Boardwalk Real Estate Investment Trust (BEI.UN-T) announced a special non-cash distribution of 32.5 cents per trust unit, payable on Dec. 31 at the close of business on the same day.

“The non-cash special distribution is principally being made to distribute to unitholders a portion of the capital gain realized by the Trust from transactions completed in the 12-month period ended Dec. 31, 2021,” it stated.

The REIT also said it closed the sale of a 180-unit asset in Saskatoon for $25-million on Dec. 15.


BTB Real Estate Investment Trust (BTB.UN-T) announced the sale of a retail property in Brossard, Qué. for $4.45-million. It bought the property in October 2007 for $3.5-million.


Dye & Durham Limited (DND-T) announced a deal to acquire digital and data services company Link Administration Holdings Ltd. for $3.2-billion, or $5.50 (Australian) per common share, which it says is a 15-per-cent premium to the closing price of Link Group’s shares on the Australian Stock Exchange on Tuesday.

As part of the transaction, Dye & Durham will also indirectly acquire Link Group’s approximate 43-per-cent ownership stake in Pexa Group Limited in Australia.

“This is a transformational acquisition for Dye & Durham and represents a major step forward in our ‘Build to a Billion’ strategy to achieve $1-billion of adjusted EBITDA,” stated Matthew Proud, CEO of Dye & Durham.


Generation Mining Ltd. (GENM-T) announced a precious metal purchase agreement (PMPA) with Wheaton Precious Metals Corp. (WPM-T) for its Marathon palladium-copper project in northwestern Ontario.

Wheaton will pay Gen Mining $240-million in cash upfront, $40-million of which will be paid on an early deposit basis prior to construction to be used for development of the Marathon Project, with the remainder payable in four staged installments during construction, subject to various customary conditions being satisfied, the company stated.

“Entering into this agreement with the world’s largest precious metals streaming company validates the potential economics of the Marathon Project and is a significant milestone for the Company and our shareholders,” said Jamie Levy, Gen Mining CEO.

The company said the Marathon PMPA will be effective subject to the closing of Gen Mining’s acquisition of the remaining 16.5 per cent interest in the Marathon Project from Sibanye Stillwater Ltd.


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