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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.

London-listed Acacia Mining plc (ACA-L) issued a statement Wednesday saying it “strongly disagrees with a number of statements” made by its largest shareholder, Barrick Gold Corp. (ABX-T), on its views on the situation in Tanzania and Acacia’s mine plans.

The company also stated that it was "surprised with the circumstances and timing of the announcement," and urged shareholders "to take no action at this time," regarding Barrick's plan to take over the company.

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Barrick also issued a statement early Wednesday confirming that it is "proposing to engage intensively with Acacia’s minority shareholders in coming weeks" based on its proposal set out in a May 21 announcement.

Barrick also said it will "provide an update on the situation in Tanzania and a review of Acacia’s mine plans which together underpin Barrick’s view that the proposal represents fair value."

Acacia agreed to extend the deadline for Barrick to make a firm offer for taking full control of the company. Barrick spun off Acacia into a separate company in 2010, but owns 63.9 per cent of the miner, which has three mines in Tanzania.

It proposed to takeover Acacia last month in a deal that valued it at $787-million, nearly an 11-per-cent discount to its closing price before the offer. Barrick had until June 18 to make a formal bid for Acacia or walk away from the deal. The deadline has now been extended to July 9.

- With files from Reuters.

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Savaria Corp. (SIS-T) announced plans to acquire Silvalea Group, which includes Silvalea and D-ansermed, for about $7.8-million. Silvalea is a manufacturer of patient transfer slings and accessories. D-ansermed is an affiliate of Silvalea that develops safety components used in patient moving and handling operations.

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“The extensive offerings and industry-leading reputation of Silvalea is an exceptional complement to our ceiling lift product portfolio," stated Savaria CEO Marcel Bourassa. "This is an outstanding opportunity for Savaria to leap ahead in the patient handling market and benefit from recurring revenue."

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InterRent Real Estate Investment Trust (IIP.UN-T) announced a $175-million equity offering to fund property acquisitions in Montreal. The trust said it has an agreement with a syndicate of underwriters that will purchase 12,500,000 trust units of the REIT on a bought deal basis at a price of $14 each. The net proceeds will be used “to fund acquisitions, repay existing indebtedness, fund previously announced developments and for working capital purposes,” the trust stated.

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Alithya Group Inc. (ALYA-T) reported fourth-quarter revenues increased 79.5 per cent to $72.6-million, compared to $40.5-million for the same quarter last year, which was below expectations of $73.4-million. Its net loss was $2.7-million versus a loss of $3.4-million a year ago.

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CannTrust Holdings Inc. (TRST-T; CTST-N) announced that it is establishing operations in the United States, starting in California.

CannTrust stated that is has signed a non-binding letter of intent that will provide access to over 3,000 acres of farmland for hemp production with Elk Grove Farming Company, LLC, a diversified farming company with operations in California, "to secure low-cost hemp with high cannabidiol content." CannTrust stated that it and Elk Grove will each have 50-per-cent ownership of a new entity.

“The opportunity in the U.S. for CannTrust is to become a trusted supplier of consistent, standardized and high-quality hemp-derived CBD formulations at scale,” the company stated.

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DavidsTea Inc. (DTEA-Q) saw sales slip in its most recent quarter, despite a gain in tea sales online and at grocery stores.

The Montreal-based company says its sales for the first quarter were $44.3-million, down $1.5-million or 3.3 per cent from $45.8-million in the same quarter the previous year. E-commerce and wholesale sales rose 9.3 per cent or $600,000. Its net loss for the quarter ended May 4 was about $4-million or 15 cents per share compared to $1.2-million or five cents per share in the first quarter of 2018.

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Interim CEO Herschel Segal says the company is "confident that our ongoing initiatives will lead to a return to positive sales in the near future."

- The Canadian Press

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