Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Health Canada has suspended CannTrust Holdings Inc.’s (TRST-T) cannabis growing and processing licences, dealing a major blow to what was once one of the most prominent and highly regarded marijuana growers in Canada.
CannTrust must stop planting cannabis immediately, and has 10 business days to appeal the suspension. If it fails, the Ontario-based grower could be forced to shutter its massive greenhouse facility and processing plant until federal regulators decide whether to reinstate or revoke the licences.
The move comes three months after federal investigators discovered CannTrust had grown about $51-million worth of cannabis in unlicensed parts of its facility in late 2018 and early 2019.
The suspension is the most significant regulatory action Health Canada has taken since commercial medical cannabis production was legalized in 2014 and recreational cannabis was permitted last October.
BTB Real Estate Investment Trust (BTB.UN-T) announced a public offering of $24-million of convertible debentures. It has an agreement with a syndicate of underwriters to issue the convertible unsecured subordinated debentures due October 31, 2024.
The net proceeds will be used to redeem the $23-million Series E 6.90% convertible unsecured subordinated debentures due March 31, 2020 and for general trust purposes, the company stated.
The Supreme Cannabis Company Inc. (FIRE-T) reported fourth-quarter net revenue was $19-million which was in line with expectations and up from $3.5-million a year earlier. Its net loss was $421,000 versus a profit of $234,000 a year earlier.
For fiscal 2020, Supreme Cannabis said it expects net revenue of between $150-million and $180-million. It also said it will not exercise its option to pursue consolidation of its issued and outstanding common shares.
Ceres Global Ag Corp. (CRP-T) reported fourth-quarter revenue of $134.7-million up from $92.1-million a year ago. The company’s net loss was $1.9-million or 6 cents per share versus a profit of $1.8-million or 7 cents a year earlier.
Steel Media owns 20 mobile gaming media websites including pocketgamer.com, pocketgamer.biz, appspy.com, and 148apps.com; and is the owner and operator of over 25 video game networking events across 11 countries, including key markets such as the United States and the United Kingdom, the company stated.