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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.

Hiku Brands Company Ltd. (HIKU-CN) is being bought by Canopy Growth Corp. (WEED-T; CGC-N). Hiku Brands Co. Ltd. is the owner of the Tokyo Smoke chain of coffee shops that sells cannabis accessories and clothing. Hiku says the deal is worth about $350-million on a fully diluted basis, which includes warrants and options.

Under the terms of the proposed agreement, Hiku shareholders will receive 0.046 of a Canopy Growth common share in exchange for each common share of Hiku, representing the equivalent of $1.91 per Hiku Share and a premium of 33-per-cent based on the 20-day volume weighted average prices of the Canopy shares and the Hiku shares as of July 9, the companies stated in a release. It’s a premium of approximately 21 per cent based on the closing prices of the Canopy shares on the TSX and the Hiku shares on the Canadian Stock Exchange on July 9.

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-with a file from Christina Pellegrini

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WeedMD Inc. (WMD-X) has terminated its agreement with Hiku Brands Company Ltd. (HIKU-CN) announced in April and says it has received a $10-million termination fee.

WeedMD also appointed chief financial officer Keith Merker to the position of CEO, effective immediately. The company said former CEO Bruce Dawson-Scully “will take on an advisory role to ensure an orderly transition.”

Nichola Thompson will take on the role of interim CFO.

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Savaria Corp. (SIS-T) is buying Garaventa Lift, a division of Garaventa Accessibility AG, for $98-million.

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Garaventa Lift manufactures a wide range of wheelchair lifts, including inclined platform lifts, vertical platform lifts and portable wheelchair lifts for persons with disabilities, the company said.

Savaria said the transaction will be funded through a combination of cash on hand and its line of credit.

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Artis Real Estate Investment Trust (AX-UN-T) says it has sold, or entered into an unconditional contract to sell, four office properties located in B.C., Alberta and Manitoba during the second quarter of this year.

One Calgary property was sold for $9-million, another for $20.5-million, while the B.C. property was sold for $100.5-million and the Winnipeg one for $27.3-million.

“The net gain over the International Financial Reporting Standards value recorded at March 31, 2018, on these dispositions was approximately $12.2-million,” the company said.

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Exfo Inc. (EXFO-Q; EXF-T) reported total third-quarter sales of US$72.2-million up from US$58.5-million for the same quarter last year and above expectations of US$70.7-million.

Its net loss was US$6-million or 11 cents per share, compared to US$4.3-million, or 8 cents per share a year ago. Analysts were expecting a loss of 14 cents in the latest quarter.

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Atrium Mortgage Investment Corp. (AI-T) says it has increased the size of its previously announced bought deal financing to $30-million in convertible unsecured subordinated debentures, up from $25-million. The offering of debentures is expected to close on or about July 18.

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