Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Ballard Power Systems Inc. (BLDP-T) announced an agreement to collaborate with MAHLE, a development partner and Tier 1 supplier to the commercial vehicle and automotive industry, on the development and commercialization of zero-emission fuel cell systems. Ballard said the collaboration is to provide primary propulsion power in various classes of commercial trucks.
Ballard has prime responsibility for system design and the fuel cell stack sub-system during the initial development phase, while MAHLE’s scope of responsibility includes balance-of-plant components, thermal management and power electronics for the complete fuel cell system, or engine, as well as system assembly.
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Dye & Durham Limited (DND-T) announced a new credit agreement of up to $165-million. It includes a $140-million revolving term loan facility with an additional uncommitted accordion of up to $25-million.
The company said it used the proceeds to repay the amounts outstanding under its prior term loan facility, with the remaining amounts to be used for general corporate purposes and acquisitions.
“We believe the new credit agreement will significantly improve our levered free cash flow, which we can now better deploy to fund our strategy of acquiring, integrating and operating businesses in our sector to drive EBITDA,” said Matt Proud, CEO of Dye & Durham.
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Well Health Technologies Corp. (WELL-T) announced the formation of a new business unit, Well Health Allied Care Inc., related to specialized care such as physiotherapy, rehabilitation, dietary, chiropractic, mental health counselling and sleep related services.
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CloudMD Software & Services Inc. (DOC-X) announced plans to buy 87.5 per cent of health care administration software company Benchmark Systems Inc.for about US$4.4-million
Benchmark’s parent company AntWorks Inc. will retain a 12.5-per-cent equity stake and remain a strategic partner for CloudMD both in the U.S. and globally, the company stated.
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The Green Organic Dutchman Holdings Ltd. (TGOD-T) announced an $11-milion bought-deal offering. It has agreement with Canaccord Genuity Corp. to purchase about 46.3 million units at a price of 24 cents each.
Each unit includes one common share and three-quarters of one common share purchase warrant of the company exercisable to acquire one share for 60 months a 30 cents per warrant.
TGOD said it intends to use the proceeds for general corporate purposes.
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