Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Hexo Corp. (HEXO-T; HEXO-N) announced on Friday after markets closed that the company’s chief financial officer Michael Monahan resigned effective immediately. Mr Monahan said the job requires him to spend the majority of his time in Gatineau and in Ottawa. "This isn’t possible for me at this time given my family’s needs and so I have decided to resign,” said Mr Monahan. “I’ve had a very rewarding time at HEXO and I will continue to assist the company as a consultant to ensure a smooth transition.”
Stephen Burwash, the vice-president of strategic finance will become CFO.
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Major Drilling Group International Inc. (MDI-T) announced it will acquire Norex Drilling Ltd., a family-owned drilling company and a leading exploration drilling contractor based in Timmins, Ont. for an amount up to $19.7 million.
The proposal includes $15.2-million in cash, $2-million in shares and an earn out of $2.5-million payable in cash following the third anniversary of closing.
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TerrAscend Corp. (TER-C) announced that it has received approval from Health Canada for “significant expansion” at its facility in Mississauga, Ont. “This approval increases licensed space at the Mississauga facility nearly three-fold from 17,800 sq. ft. to 51,800 sq. ft., and includes additional cultivation capacity, a commercial kitchen, formulation rooms and increased primary and secondary packaging capacity to allow for new product formats and extracts for the Canadian Cannabis 2.0 market,” the company stated in a release.