Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Well Health Technologies Corp. (WELL-T) announced the acquisition of Cloud Practice Inc. and three clinics from CloudMD Software & Services Inc. (DOC-X) for $5.75-million.
“This transaction demonstrates our dedication to expanding and strengthening Well’s Canadian health care offering through disciplined capital allocation,” stated CEO Hamed Shahbazi. “This acquisition will also enable our EMR [electronic medical record] and billing divisions to enter new markets in the Canadian Prairies where we look forward to supporting health care practitioners’ access to new digital health innovations.”
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Currency Exchange International Corp. (CXI-T) announced the appointment of Gerhard Barnard as group chief financial officer, effective Tuesday. Interim group CFO Alan Stratton will step down from the position and will remain with its subsidiary Exchange Bank of Canada, as interim CFO.
Mr. Barnard most recently served as CFO at a publicly traded financial group providing investment account services, corporate and shareholder services, and health spending accounts.
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Magellan Aerospace Corp. (MAL-T) announced it was awarded a contract from Sikorsky Aircraft Corporation, a Lockheed Martin Co., for low-rate initial production (LRIP) of assemblies to support the production of the CH-53K LRIP configuration helicopter. The company said the “multi-year, multi-million dollar agreement” will be delivered from Magellan’s New York facility starting next year.
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Westshore Terminals Investment Corp. (WTE-T) announced it reached an agreement with Local 502 of the International Longshore and Warehouse Union. The company said the new six-year agreement expires on Jan. 31, 2028. It’s subject to a ratification vote by the end of this month. Westshore said work resumed at the terminal on Sunday.
“Negotiations with Local 502 were the first of three locals and talks with the other two ILWU Locals (514 and 517) will be scheduled in the near future,” the company added.
It also said annual throughput volume for 2022 is estimated at 24-25 million tons, a reduction from the previous estimate of 27.5 million tons.
“The throughput reduction reflects the impacts of the labour disruption as well as less than expected performance from BNSF (the rail carrier for our U.S. customers) for the second half of the year,” it stated.
It said the estimate assumes no further work stoppages or other disruptions to the regular business operations.
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Bragg Gaming Group (BRAG-T) announced a licensing agreement with Sega Sammy Creation Inc., a provider of unique slot games for land-based casino slots. Bragg said it has exclusive rights to distribute select titles from SSC’s content portfolio to iGaming operators in the U.S., U.K. and other global markets.
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PyroGenesis Canada Inc. (PYR-T), which makes and sells advanced plasma processes, announced that the negotiation for the land-based system to destroy perfluoroalkyl and polyfluoroalkyl substances (PFAS) contract was suspended and discontinued.
PyroGenesis said that a year ago that it was selected to provide its plasma-based thermal process equipment in a two-phase project geared toward providing a land-based system to destroy PFAS.
“This decision was made because we remained firm in our decision to not compromise nor hand over, to the client, the intellectual property (IP) which we would have developed in Phase 1,” said CEO Peter Pascali in a release.