Monday’s small-cap stocks to watch

Our roundup of Canadian small-caps of between $100-million and $2.5-trillion in market capitalization making news

enerflex ltd. (EFX-T) announced the restatement of its earnings to reclassify certain amounts within its statement of cash flows.

The company restated its cash in operating activities to a loss of $22.7-million compared to a profit of $2.6-million previously reported for the quarter ended March 31, 2022. Its cash used in investing activities was restated to a loss of $16.9-million versus a loss of $37-million. Cash used in financing activities was restarted to a profit of $1.4-million versus a loss of $5.2-million previously reported for the quarter.

The company said the restatement doesn’t change its overall cash position or certain other financial metrics.


Great Bear Royalties Corp. (GBRR-X) announced an agreement to be acquired by Royal Gold, Inc. in an all-cash deal valued at $200-million or $6.65 per share on a fully diluted basis. The transaction price is a 51-per-cent premium at its closing price of $4.40 on Friday.

“After a thorough strategic review process, we are very pleased to provide this all-cash premium offer to our shareholders,” stated Great Bear CEO Calum Morrison. “Following the acquisition of Great Bear Resources by Kinross Gold Corporation for approximately $1.8-billion in early 2022, interest in Great Bear Royalties has been significant.”


Australia’s Link Administration Holdings Ltd said on Monday that it was unable to recommend Canadian software firm Dye & Durham Ltd‘s (DND-T) revised takeover bid of A$4.57 per share, but will continue to engage with it to obtain a better offer.

The rejection comes just days after Link said it would consider the revised bid, which values ​​it at A$2.34-billion ($1.60-billion).

The latest bid was upped from Dye & Durham’s prior offer of A$4.30 apiece, which was itself slashed by nearly a quarter from the original proposal of A$5.50 per share made in December.


Full story here


Spectral Medical Inc. (EDT-T) announced that the US Food & Drug Administration (FDA) has granted breakthrough device designation for the company’s Toraymyxin device. The company said the device is “a therapeutic hemoperfusion device that removes endotoxin, which can cause septic shock.”

The program provides patients and health care providers with timely access to medical devices by speeding up their development, assessment and review, the company stated, “while preserving the statutory standards for premarket approval, 510(k) clearance, and De Novo marketing authorization, consistent with the Agency’s mission to protect and promote public health.”


Goodfood Market Corp. (FOOD-T) announced that it’s partnering with the gourmet grocer Pusateri’s Fine Foods.

Goodfood said the partnership will allow it to provide customers with meal solutions that can be delivered in 30 minutes, without the need for a subscription service.

“The addition of Pusateri’s easy gourmet meal options to Goodfood’s on-demand rapid delivery service is just another example of how the brand is continually evolving to provide Canadians with convenient, fresh, and delicious ideas for every meal of the day without sacrificing quality,” the company stated.


Osisko Metals Inc. (OM-X) announced that it has exercised the option to acquire the Gaspé Copper project in the Gaspé peninsula of Québec from Glencore Canada Corp. It said the deal is subject to typical closing conditions.

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