Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Blackline Safety Corp. (BLN-T) announced that a leading western Canada-based energy, utility and transportation company has renewed and expanded its contract with the company. Blackline said the organization, a customer since 2016, has agreed to a new five-year product and service engagement with a lifetime value of close to $3.3-million to protect its workers.
**
5N Plus Inc. (VNP-T) announced the renewal and increase in its multi-year agreement with First Solar, Inc. (FSLR-Q) for the supply of semiconductor materials associated with the manufacturing of thin-film photovoltaic (PV) modules.
“This latest agreement is the largest award to date and signals a transition to higher volumes of value-added compound semiconductor materials,” the company stated.
**
High Tide Inc. (HITI-X) announced it will acquire the equity interest of 1171882 B.C. Ltd., operating as Jimmy’s Cannabis Shop BC, as well as assignments of the vendors’ shareholder loans. The deal sees High Tide acquire two of the five retail cannabis stores currently operated by Jimmy’s in B.C. for a $5.3-million.
**
Enthusiast Gaming Holdings Inc. (EGLX-T) announced the sale of certain video game editorial websites for $6.8-million. It said the sale represents a multiple of approximately 4.5 times associated revenue.
Among the websites included as part of the sale are Destructoid.com, Siliconera.com, Upcomer.com, PCInvasion.com, Operationsports.com and EscapistMagazine.com.
**
Cineplex Inc. (CGX-T) announced late Wednesday that a U.S. court ruling will mean the Ontario Court of Appeal won’t hear a case between the Toronto theatre giant and its once-suitor Cineworld Group PLC as scheduled.
Cineplex says the U.S. court, where U.K.-based Cineworld filed for bankruptcy earlier this month, denied Cineplex’s request to allow a Canadian case between the two companies to proceed as planned in October.
Cineplex says Cineworld and its subsidiaries took the position that the Canadian case was contingent on proceedings before the United States Bankruptcy Court for the Southern District of Texas.
The Canadian case dates back to 2020, when Cineworld walked away from a $2.18-billion deal to buy Cineplex, sparking a court battle over whether Cineworld had the right to get out of the deal.
An Ontario court ruled last year in Cineplex’s favour, awarding the company $1.24 billion in damages, but Cineworld has since appealed the judgment while Cineplex is pushing for an even higher payout. Cineplex says its case still has merits and it won’t stop pursuing other avenues to recoup the money it feels it is owed.
- The Canadian Press
**
Innergex Renewable Energy Inc. (INE-T) announced an agreement to acquire the remaining 30.45 per cent minority interest in its wind portfolio of 16 assets in France, of which Innergex currently owns the majority interests, for a total consideration of $96.4-million.
“This transaction is part of a global strategy to capitalize on rising energy prices and growing demand in the current energy environment in France,” said CEO Michel Letellier.