Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Knight Therapeutics Inc. (GUD-T) shareholder Medison Biotec issued a release on Wednesday saying that “an independent report authored by leading corporate governance expert Dr. Richard Leblanc reveals and confirms acute conflicts of interest and governance deficiencies at Knight.”
It's the latest in an escalating dispute between the company and the investor, which says it has a 7.3-per-cent stake in Knight.
"These material weaknesses, which have severely impacted shareholders, are attributed to, among other factors, the multiple personal and business relationships among the current board of directors, the CEO, Jonathan Goodman, and the Goodman family network of competing businesses and investments," the release states.
**
Patrick Priestner, founder and CEO of Canada One Auto Group (COAG), and COAG issued a statement saying they’ve filed their statement of defense with the Ontario Superior Court of Justice, Commercial List, in response to the statement of claim filed by AutoCanada Inc. (ACQ-T) on Feb. 6. “Mr. Priestner has denied AutoCanada’s claim and asked that it be dismissed,” the release states.
**
Altius Minerals Corp. (ALS-T) announced it expects to report record attributable royalty revenue1 of approximately $21.5-million for the quarter ended March 31, which is said is a 36-per-cent increase compared to revenues of $15.8-million generated in the comparable quarter last year
The corporation also announces that it is raising its full-year revenue guidance to $77-million to $81-million from the previously published estimate range of $67-million to $72-million. “This revision considered the strong first quarter results, increased ownership of Labrador Iron Ore Royalty Corporation and improved potash, base metal and iron ore prices,” the company stated.
**
Chorus Aviation Inc. (CHR-T) announced that Chorus Aviation Capital has entered into agreements to deliver five new Bombardier Q400 aircraft to SpiceJet of India under a sale and leaseback transaction. CAC has delivered two aircraft and anticipates delivering all aircraft by the end of June, the company stated.
“Upon delivering all five aircraft included in this transaction, and five other aircraft pending delivery to other customers, CAC’s portfolio will consist of 45 aircraft comprising 33 turboprops and 12 regional jets valued at approximately US$960-million,” the company stated.
**
Golden Star Resources Ltd. (GSS-N; GSC-T) announced its president and CEO Sam Coetzer will be leaving the company as of April 30 and the board has appointed Andrew Wray to replace him, effective May 1, 2019. “After a thorough process, the board of directors has determined that Andrew has the ideal attributes to lead Golden Star,” stated Tim Baker, chairman of the board. “Over the last six years, Sam has done an exceptional job in transitioning Golden Star into an underground mining company, attracting new shareholders, and improving its financial position.”
**
Kraken Robotics Inc. (PNG-X) announced that its Kraken Robotic Systems Inc. subsidiary has been awarded a financial contribution of $1-million from the Newfoundland and Labrador government, under the Innovation and Business Development Funding (IBDF) program. The funds will be used for the initial phase of the OceanVision project that Kraken plans to pursue as part of the Ocean Supercluster initiative, the company stated.