Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
MariMed, Inc. (MRMD-CN) announced the appointment of its president Jon Levine as interim CEO following the unexpected passing of Robert Fireman.
The company said its board will conduct a process to identify a permanent CEO, “which may include external and internal candidates.”
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Dynacor Group Inc. (DNG-T) announced a 20-per-cent increase to its monthly dividend to a penny from 0.83 of a cent and on an annual basis to 12 cents from 10 cents per common share starting in January, 2023.
“The company has raised the dividend four times in four years, proving management’s confidence in Dynacor’s ability to generate robust earnings and increased cash flows,” stated CEO Jean Martineau.
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Algoma Central Corp. (ALC-T) announced a special dividend to shareholders of $1.35 per common share payable on Jan. 18 to shareholders of record on Jan. 4.
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TerraVest Industries Inc. (TVK-T) reported sales of $162.4-million for its fourth quarter ended Sept. 30, up from $80.8-million a year ago.
Net income of $17-mllion or 91 cents per share compared to net income of $9.4-million or 53 cents per share a year ago.
The company also increased its quarterly dividend by 25 per cent to 12.5 cents per common share.
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Wall Financial Corp. (WFC-T) reported revenue of $39.9-million for its third quarter ended Oct. 31, up from $30.3-miillion a year ago.
Net earnings of $7.2-million or 22 cents per share compared to net earnings of $1.7-mllion or 5 cents a year ago.
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StorageVault Canada Inc. (SVI-T) announced a $150-million financing of convertible senior unsecured debentures.
The company said it has an agreement with a syndicate of underwriters that has agreed to purchase $100-million convertible senior unsecured debentures at a price of $1,000 each. StorageVault said it also has an agreement to sell $50-million in debentures to an institutional investor under the same terms and conditions.
The company said it intends to use the net proceeds to repay debt and fund potential future acquisition opportunities and for general corporate purposes.
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Lumina Gold Corp. (LUM-X) announced a proposal to amend its unsecured credit facility with its largest shareholder, Ross Beaty.
Some key amendments include an increase in the facility from $10-million to $15-million and an extension of the term July 5, 2023 to Dec. 31, 2023.
The additional proceeds will be used for remaining pre-feasibility study costs and general corporate and working capital purposes, the company stated.
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