Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Clearlake Capital Group LP has signed a deal to buy Intertape Polymer Group Inc. (ITP-T) in a deal valued at US$2.6-billion, including debt.
Under the agreement that will see IPG become a privately held company, Clearlake will pay C$40.50 per share in cash.
Shares in the company which makes packaging products closed at C$22.28 on the Toronto Stock Exchange on Monday.
IPG chief executive Greg Yull says Clearlake will provide the operational and financial resources to accelerate the company’s acquisition strategy, as well as organic growth opportunities.
IPG has about 4,100 employees with operations in 34 locations, including 22 manufacturing facilities in North America, five in Asia and two in Europe.
The deal, which is subject to customary closing conditions, including receipt of shareholder, regulatory and court approvals, is expected to close in the third quarter.
-The Canadian Press
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Titanium Corp. (TIC-X) announced that Scott Nelson will be retiring from his position as president and CEO of the company effective March 31. Board chair Darren Morcombe will serve as interim CEO until a replacement is found. Mr. Nelson will be a consultant to the company until the end of May 2025, it stated.
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Wajax Corp. (WJX-T) reported fourth-quarter revenue of $402.8 million, up from $381-million in the fourth quarter of 2020. Revenue in the latest quarter was below expectations of $417.5-million, according to S&P Capital IQ.
Net earnings of $8-million or 37 cents per share versus $10.7-million or 53 cents per share a year earlier. Adjusted EPS was 33 cents versus 48 cents a year earlier.
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Liberty Gold Corp. (LGD-T) announced a $30-million bought-deal financing. The company said a syndicate of underwriters has agreed to purchase more than 27.27 million common shares for $1.10 each.
The net proceeds will be used to fund the exploration and development of Liberty Gold’s Black Pine and Goldstrike oxide gold development assets in the Great Basin in the U.S.
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Argonaut Gold Inc. (AR-T) announced the appointment of Larry Radford as president, CEO and director effective March 21. He most recently served as the chief operating officer of Gold Standard Ventures Corp.
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NexPoint Hospitality Trust (NHT.UN-T) announced today the acquisitions of two assets: the Hyatt Place in Park City, Utah and the Hampton Inn & Suites Bradenton Downtown Historic District in Bradenton, Florida. The trust said both acquisitions were done last month. The prices weren’t included in the release.
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Viemed Healthcare Inc. (VMD-T) reported fourth-quarter revenue of US$32-million up from US$31.2-million a year earlier.
Net income of US$4.1-million or 10 cents US per share, compared to US$5.1-million or 12 cents US a year earlier.
The expectation was for earnings of 6 cents US per share in the most recent quarter and revenue of US$29.7-million.
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Maverix Metals Inc. (MMX-T) announced that it has acquired a package of three royalties on gold projects located in Nevada from an indirect, wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP for a US$5-million cash payment.
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DMG Blockchain Solutions Inc. (DMGI-X) announced that it expects revenue for its first quarter ended Dec. 31 to be in the range of $13.5-million to $14-million, compared with $3.5-million to $4-million its fourth quarter.
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Century Casinos Inc. (CNTY-Q) announced fourth-quarter net operating revenue was $107.3-million, an increase of 27 per cent from the year-ago period and ahead of expectations of $103.9-million.
Earnings from operations were $16.4-million, a decrease of 12 per cent year-over-year. Net earnings attributable to shareholders was $4-million, a decrease of 41 per cent. Earnings per share were 13 cents versus 23 cents a year earlier.
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Firm Capital Property Trust (FCD-UN-T) announced the acquisition of a 50-per-cent interest in six multi-tenant industrial properties located in Edmonton. The acquisition price for 100 per cent of the property is approximately $36.5-million, excluding transaction costs, the company stated.
The trust said it will acquire the properties in a way that it will own half and “certain members of senior management and the board of trustees of the trust” will own the remaining 50-per-cent. The acquisition will be financed with a new $23.7-million first mortgage from a Canadian Chartered Bank and the remaining $12.8-million (excluding transaction costs) will be split 50-50 by the trust and the private clients.
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Asante Gold Corp. (ASE-CN) announced that David Anthony has been appointed president and CEO replacing Douglas MacQuarrie who has been appointed non-executive chairman of the company. Mr. Anthony joined Asante as chief operating officer in July 2021. Mr. MacQuarrie founded the company in 2011 and has served since then as its President and CEO.
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