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Our roundup of Canadian small-caps making news and on the move today.
Cipher Pharmaceuticals Inc. announced it has acquired INNOCUTIS Holdings LLC, a privately held specialty dermatology company, for $45.5-million (U.S.) in cash.
"This acquisition marks our commercial entry to the U.S. market and represents an important step toward our goal of creating a leading North American dermatology business," said Shawn O'Brien, Cipher's President and CEO.
"INNOCUTIS provides us with commercial infrastructure, revenue-generating branded prescription products, and a talented team, including a 31-person salesforce that shares our customer-focused philosophy. We see excellent opportunity to drive increased sales and profitability by growing their current branded prescription products, led by Sitavig, and adding new products to the portfolio, including our recently acquired Pruridexin and Dermadexin."
Cipher also said it has closed a private offering of $100-million (U.S.) in aggregate principal amount of senior secured notes due 2020 provided by investment funds managed by Athyrium Capital Management.
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Alamos Gold Inc. and AuRico Gold Inc. have agreed to a $1.5-billion (U.S.) merger to create a gold mining firm with assets in Canada and Mexico. The transaction is expected to close in the second quarter.
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EnWave Corporation said that Perdue Farms Incorporated will be testing its technology to see if there are any applications for its food and agricultural offerings. If successful,. Perdue has the right to license this technology in the United States.
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More to come