Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Freshii Inc. (FRII-T) announced a deal to provide some of its to-go products in about 600 7-Eleven locations across Canada.
“We are thrilled to partner with 7-Eleven Canada to continue to drive our mission forward of making healthy eating convenient and affordable,” says Adam Corrin, chief operating officer of Freshii.
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Gold Royalty Corp. (GROY-A) announced a credit agreement with the Bank of Montreal providing for a US$10-million secured revolving credit facility that includes an accordion feature providing for an additional US$15-million of availability
The facility, secured against the company’s assets, will be available for general corporate purposes, acquisitions and investments, the company stated.
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Enerflex Ltd. (EFX-T) announced it’s buying Exterran Corp. (EXTN-N) for approximately US$735-million “to create a premier integrated global provider of energy infrastructure.”
In the all-share transaction, Enerflex will acquire Exterran shares on the basis of 1.021 Enerflex common shares for every Exterran share. The enterprise value is about US$1.5-billion, the company stated.
“The transaction is immediately accretive to shareholders; enhances our presence, offerings, and scale across our regions; and importantly, executes upon our years-long strategic goal of increasing recurring revenues to improve the profitability and resiliency of our platform,” said Marc Rossiter, Enerflex’s CEO. "
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CloudMD Software & Services Inc. (DOC-X) says it has been advised of claims from certain suppliers to eyewear company VisionPros – which it acquired in June – for the repayment of rebates and reassessments for approximately $3.73-million.
“The claims arise from violations of existing distribution agreements VisionPros has with these suppliers and are in relation to the business conducted by VisionPros prior to its acquisition by CloudMD,” the company stated. It said it has strong relationships with these suppliers “and is working cooperatively with them to assess the claims and to negotiate the terms of new distribution agreements.”
CloudMD’s says its board audit committee will review the claims and the business of VisionPros. “In connection with that review, the audit committee will consider, among other things, the amount of goodwill for this acquisition that will be reflected in the company’s annual financial statements for the year ended Dec. 31,” as well as “review and assess the avenues available to the company for recovery against the former owners of VisionPros in connection with the claims, which would be in addition to the indemnification holdback of 1,090,909 shares and $3-million of cash as provided in the definitive agreement for the acquisition.”
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