Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Aphria Inc. (APHA-T; APHA-N) announced that its German subsidiary Aphria Deutschland GmbH has secured the previously announced license for the domestic cultivation of medical cannabis from the German Federal Institute for Drugs and Medical Devices (BfArM), “following the conclusion of a mandatory 10-day standstill period for public contracts.”
Aphria said it was granted a cultivation license for four of the nine total lots awarded by BfArM "and is awaiting the completion of the tender process for the four remaining lots under review, one of which was provisionally awarded to Aphria Germany."
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Wayland Group (WAYL-C) issued a release after markets closed on Thursday to expand on an update it provided on April 17 “with respect to the ongoing process for domestic cultivation of medical cannabis in Germany.”
“The company would like to clarify that Wayland’s joint venture with Demecan GmbH received a score of 60/60 for quality and 40/40 for pricing in the original tender process from early in 2018. Notwithstanding the challenge to the most current tenders described in the update, the company is confident that Demecan will be successful, and will be awarded the 3 lots for production,” it stated.
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Cannabis One Holdings Inc. (CBIS-C) announced three definitive agreements to acquire certain assets of Nevada-based LV 3480 Partners LLC, 3480 Investors, Inc., and Agro Finance LLC.
Cannabis One stated that it will acquire Nevada State-issued cannabis cultivation and manufacturing licenses, held by NV 3480 Partners LLC and 3480 Hacienda Partners LLC, respectively, and related infrastructure, in addition to the flower brand "Fleur" and the cannabis-infused product brands, "Evergreen Organix" and "EG.O."
"Building on the momentum of our recent announcements related to the acquisition of the 'Honu' and 'Fat Face Farms' brands, Cannabis One is now excited to bring the Evergreen Organix family under the CBIS banner," stated CEO Jeffery Mascio.
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MJardin Group, Inc. (MJAR-C) announced an agreement to acquire Carson City Agency Solutions, doing business as Cannabella, an operator of an extraction facility and producer of edibles and topicals in Carson City, Nevada.
"The transaction ... will add extraction capabilities to MJardin’s current cultivation operations in Nevada, allowing the company to use a portion of its cultivation output for extracts towards edibles, topicals and other potential product lines," the company stated.
“This transaction is a positive step for us in the U.S. market. The addition of extraction capabilities improves MJardin’s market position and allows us to take advantage of diversifying our product portfolio by adding products such as oils and vapes to capture more of the value chain,” stated Adrian Montgomery, chairman of MJardin.
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People Corp (PEO-T) reported revenue of $40.5-million for its second quarter ended Feb. 28, up from $32.5-million a year earlier, which was in line with expectations of $40-million. Its net loss was $3.4-million versus a profit of $610,000 a year earlier.