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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

FSD Pharma Inc. (HUGE-CN) says it signed of a binding letter of intent to acquire Therapix Biosciences Ltd. (TRPX-Q).

FSD said Therapix Biosciences shareholders will receive US$48-million "representing approximately 130 million class B subordinate shares of FSD Pharma and nearly 10% of the company today." It said the final number shares and percentage ownership will fluctuate based on the 20-day average of the FSD Pharma stock closing price on the date the transaction is finalized.

"The transaction combines two highly complementary businesses and creates a medical cannabis industry innovator focused on the research and development of advanced cannabinoid treatments," the company stated.

**

CoreLogic, Inc. (CLGX-N) has agreed to acquire Symbility Solutions Inc. (SY-X), a software company focused on the insurance industry, in a deal valued at $159.5-million.

CoreLogic currently owns 28 per cent of the Symbility shares. Under the terms of the agreement, CoreLogic has agreed to acquire the remaining shares for 61.5 cents in cash each. "This price represents a 20% premium to the 20-day volume weighted average trading price of Symbility's common shares on the TSXV and a 26% premium to the closing price of Symbility's common shares on the TSXV, as of October 19, 2018," the companies stated in a release.

"CoreLogic has been a supportive minority shareholder and data provider for a number of years and the combination of Symbility's leading claims platform and development capabilities with CoreLogic's unmatched property data and analytics is a natural evolution that will benefit our customers, employees and shareholders," stated James Swayze, CEO Symbility.

The deal requires the approval of shareholders.

**

Trevali Mining Corporation (TV-T) announced a downgrade of the 2018 production guidance for the Caribou mine “due to challenging rock mass conditions.” The company said increased zinc production from Perkoa operations is expected to partially offset metal losses. “The Company reiterates it remains on track to achieve its 2018 consolidated zinc production guidance,” it stated.

**

Flower One Holdings Inc. (FONE-CN) announced a property acquisition in North Las Vegas from an arm’s length third party $1.15-million in cash “to support its future retail presence.”

The company said it has submitted applications for multiple Recreational Marijuana Establishment Licenses within the State of Nevada, "an opportunity only available to existing operational cannabis license holders."

"Flower One's core business in Nevada will continue to focus on cannabis cultivation, processing and high-volume packaging," said Flower One's CEO, Ken Villazor. "However, we wanted to take full advantage of the rare opportunity to apply for these dispensary licenses given our eligibility. Should our applications prove successful, we view the opportunity to operate a state-licensed dispensary as an effective way to better understand the cannabis consumers' preferences in the highly evolving Las Vegas and Nevada market."

**

AirBoss of America Corp. (BOS-T) said it has been awarded an IDIQ contract from the U.S. Department of Defense (DOD) for the manufacture of up to 198,240 pairs of Extreme Cold Vapor Barrier Boots (ECVBB), “commonly known as bunny boots.”

The company said the contract consists of an initial base year and one option year and is expected to be worth up to an aggregate amount of US$51.5-million, assuming 198,240 pairs of ECVBBs are sold.

**

ICC International Cannabis Corp. (WRLD-CN) said it has acquired Polannabis Holdings, which controls a Polish hemp processing and extraction licence that permits the extraction and manufacturing of cannabinoid-derived products from hemp.

“ICC’s strategic acquisition of Polannabis plants yet another ICC flag in the EU. Polannabis brings a highly skilled workforce, proprietary extraction methodologies, as well as existing revenue generating supply contract," stated Eugene Beukman, CEO of ICC stated.

**

Scythian Biosciences Corp. (SCYB-CN) announced a US$88-million investment in Class B units in Verano Holdings, LLC, a private, licensed operator of cannabis cultivation, manufacturing and retail facilities across six U.S. states and Puerto Rico.

Scythian said it has also agreed to sell a 100-per-cent interest in 3 Boys Farms LLC to Verano in exchange for US$100-million of Class B units in Verano.

"All transactions related to 3 Boys Farms are subject to the receipt of all required governmental approvals including from the Florida Department of Health, Office of Medical Marijuana Use," the company said.

Scythian also announced a binding share purchase agreement to acquire 100 per cent of the issued and outstanding common shares of CannCure Investments Inc., a privately-held Ontario corporation. CannCure indirectly owns 60 per cent of 3 Boys Farms, a Florida-based limited liability company with authorization to cultivate, process and dispense medical cannabis "Upon the acquisition of CannCure, Scythian will hold a contractual right to purchase the remaining 40 per cent of 3 Boys Farms, subject to the receipt of all required governmental approvals from the Florida Office of Medical Marijuana Use;

“This strategic investment and transaction will give Scythian a substantial stake in Verano and expand its investments in the U.S. to key markets, including Illinois, Maryland, Michigan, Nevada, Ohio, Florida and Puerto Rico, with additional states to be added in 2019,” the company stated. “The investment and transaction further strengthen Scythian’s position as the leading cannabis incubator in the U.S. cannabis marketplace.”

**

MedMen Enterprises Inc. (MMEN-CN) said it has revised a previously announced agreement to sell a portion of its real estate assets. MedMen previously announced that it would sell three properties to newly formed Treehouse Real Estate Investment Trust, Inc. Under the revised transaction, MedMen said it expects to sell one property to Treehouse and two properties to Stable Road Capital. “The sale to Stable Road Capital would take place as soon as practical,” the company stated. “The sale to Treehouse would take place following capitalization of Treehouse through a private placement. The economics of the transaction are not expected to change.”

**

1933 Industries Inc. (TGIF-CN) said its subsidiary, Spire Global Strategy, has been awarded a contract to develop a Cannabis Regulatory Compliance Course at Selkirk College, a post-secondary institution in B.C.

“We are pleased to have been selected to develop and deliver the compliance course due to our deep subject matter expertise in this sector,” stated Andrew Richards, CEO of Spire. “We look forward to working with Selkirk College and engaging with craft growers in the region.”

**

Fiera Capital Corporation (FSZ-T) said it has reached an agreement to sell to Canoe Financial LP the rights to manage nine of Fiera’s retail mutual funds.

As part of the agreement, Canoe has agreed to retain Fiera Capital to act as sub-advisor for Fiera Capital Global Equity Fund, Fiera Capital Defensive Global Equity Fund, Fiera Capital International Equity Fund, and Fiera Capital Equity Growth Fund, according to the release. "There will be no change in the current portfolio management team for these four funds," the company stated.

“This transaction will allow Fiera Capital to focus on its core strengths serving institutional markets and private wealth clients, as well as sub-advisory via strategic partnerships,” stated Jean-Phillippe Lemay, president of Fiera Capital’s Canadian Division.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 05/01/24 6:21pm EST.

SymbolName% changeLast
HUGE-CN
Fsd Pharma Inc Subordinate Voting Share
0%0.95
BOS-T
Airboss America J
-2.94%5.95
TGIF-CN
1933 Industries Inc
0%0.02
MMEN-CN
Medmen Enterprises Inc Class B Subordin
0%0.015

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