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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news

Well Health Technologies Corp. (WELL-T) announced the ramp-up of its mergers and acquisitions program.

After a recently oversubscribed bought deal private placement, Well said it will increase its M&A program “with multiple signed and actionable letters of intent, demonstrating the company’s ability to execute on highly accretive capital allocation opportunities.”

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Enthusiast Gaming Holdings Inc. (EGLX-T) issued a statement after markets closed Tuesday addressing what it said was a “misleading and baseless letter” to its board from activist investor Greywood Investments, LLC.

“We believe the company is well-positioned to continue accelerating both revenue and gross profit, given the exceptionally strong trends we continue to see in our business. Despite the unnecessary distraction caused by Greywood, the company’s board and management remain focused on executing on our strategy,” stated John Albright, lead director in a release.

Read the Globe story on the proxy fight here

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Hudbay Minerals Inc. (HBM-T) announced that it has received a favourable decision from the U.S. District Court for the District of Arizona relating to its Copper World project in Arizona.

The company said the District Court ruled in favour of Hudbay on all issues, “including that Copper World and Rosemont are not connected under the National Environmental Policy Act and, therefore, that the Army Corps of Engineers (ACOE) does not have an obligation to include Copper World as part of its NEPA review of Rosemont.”

The company also said the District Court also granted its motion to dismiss the Copper World preliminary injunction request filed by the plaintiffs in the two lawsuits challenging the Section 404 Clean Water Act permit for Rosemont “on the basis that the lawsuits are moot after the company surrendered its 404 permit back to the ACOE in April 2022. "

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Karora Resources Inc. (KRR-T) announced a deal to buy the Lakewood Mill gold processing facility located near Kalgoorlie, Western Australia for $80-million (Australian), including A$70-million in cash and A$10-million in Karora shares.

The company also announced a $50-million bought-deal financing. The company said it has an agreement with a syndicate of underwriters that has agreed to buy about 10.4 million shares for $4.80 each. The stock closed at $5.14 on the TSX Tuesday.

The corporation said it intends to use the net proceeds received to fund a portion of the cash consideration of the Lakewood Mill acquisition, the advancement of the its nickel exploration and development program at Beta Hunt, and for working capital and general corporate purposes.

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Canadian Net Real Estate Investment Trust (NET-UN-T) announced the acquisition of four properties in Nova Scotia and Quebec for $18.8-million. The purchase price represents a capitalization rate of approximately 6.5 per cent for the portfolio, the company stated.

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HLS Therapeutics Inc. (HLS-T) announced late Tuesday that Bill Wells, executive chair of the board, has retired from the board and his executive duties at the company effective May 23.

“Mr. Wells intends to focus on other business interests and has agreed to work with the company to facilitate an orderly transition,” the company stated. The company said Greg Gubitz has been appointed board chair effective immediately.

Mr. Wells co-founded HLS in 2014.

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