Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Net earnings of $2.4-million compared to a loss of $195,000 a year ago.
Platinum Group Metals Ltd. (PTM-T) announced that Greg Blair has been appointed chief financial officer, effective immediately, following his serving as interim CFO since July 2021. Mr. Blair will be based in Vancouver.
AGF Management Ltd. (AGF.B-T) reported total income of $112.5-million for its third quarter ended Aug. 31, compared to $123.1-million a year ago. The expectation was for $111.8-million, according to S&P Capital IQ.
Net income was $22.1-million or 32 cents per share compared to $14.9-million or 21 cents in the same quarter last year. The expectation was for EPS to come in at 26 cents in the latest quarter.
Total assets under management and fee-earning assets of $39.6-billion compared to $40.3-billion as of May 31 and $43.4-billion as at Aug, 31, 2021.
AGF also announced that CFO Adrian Basaraba is leaving “to pursue other opportunities.” Jenny Quinn has been appointed interim CFO effective Sept. 29.
Ascend Wellness Holdings, Inc. (AAWH-U-CN) announced that its chief financial officer Daniel Neville and president and co-founder Frank Perullo have been named interim co-CEOs, effective immediately. A search process has started to find a permanent CEO. Chairman and Founder Abner Kurtin will transition to executive chairman of the board.
InPlay Oil Corp. (IPO-T) announced an operations update and a long-term forecast through 2025. For the update, the company said it expects to be in the upper half of its full year 2022 production guidance which equates to 9,150 to 9,400 boe/d. “This forecast is estimated to deliver production growth of 28 per cent to 31 per cent on a per share basis,” the company stated.
In its outlook, the company said its strategy is to provide organic production growth in a range of 6 per cent to 10 per cent.
Cineworld and Cineplex have been locked in a multimillion-dollar legal battle since the London-listed company rescinded its offer to buy Cineplex more than two years ago. Cineworld has since been struggling to rein in massive debt and this month filed for bankruptcy in the United States.
Cineplex is in early talks with Cineworld’s lenders about taking over Regal in exchange for debt and stock backed by the combined business, the WSJ reported, citing people familiar with the matter.
“The announcement reinforces the company’s focus on advancing its path to profitability as a premium brand-focused cannabis and consumer packaged goods (CPG) company,” it stated in a release.
Canopy Growth said OEG Retail Cannabis has agreed to acquire all corporate stores outside of Alberta as well as all Tokyo Smoke-related intellectual property, while 420 Investments Ltd. has agreed to acquire the ownership of five retail locations in Alberta.
More details can be found in this article
The range is well below the BMO Capital Markets estimate of $169-million, according to an analyst report released Wednesday, and then FactSet Consensus of $187-million.
“Our projected fiscal second-quarter results largely reflect previously disclosed operational challenges, as well as the continued decline in prices for our finished products, both of which had a negative impact on overall profitability,” stated CEO Michael Garcia.
He said the company saw a production shortfall “due to various operational challenges,” resulting in a decline in shipments to an estimated 415,000 to 425,000 tons for the quarter.
Sandstorm Gold Ltd. (SAND-T) announced an US$80-million bought-deal financing. It has an agreement with a syndicate of underwriters led by BMO Capital Markets and Scotiabank, which has agreed to buy 15,700,000 common shares for US$5.10 each.
The stock closed at US$5.57 on Tuesday and was down 8 per cent to US$5.13 in after-hours trading on the NYSE.
The company said plans to use the net proceeds for future acquisitions of streams and royalties, as well as repayment, “from time to time,” of amounts drawn under its revolving credit facility.