Tausi Insider

The Toronto Stock Exchange is looking for candidates for initial public offerings (IPOs) in Canada among mid-sized Brazilian companies, the bourse’s chief executive Loui Anastasopoulos said after a week-long visit to the country. Anastasopoulos said the targets are mainly in mining, renewable energy and technology, areas favoured by Canadian investors. Some could use the TSX Venture Exchange, tailored for startups, he added. The most successful example of a company that raised capital in Canada in its initial stages is Sygma Lithium Corp, a lithium miner operating in the Minas Gerais Brazilian state. Its 2018 IPO in TSX Venture Exchange valued the company, focused on selling the mineral to car battery makers, at around $90-million. Currently listed also in Nasdaq, Sigma now has a $4.4-billion market capitalization. “That is a solution for mid-sized companies that need to raise capital in small transactions that are difficult to accomplish in local capital markets”, Anastasopoulos sai...

Hexo Corp. HEXO-T says its most recent quarter delivered a $52.1-million net loss as the cannabis company purged unprofitable products and streamlined its business. The Gatineau, Que.-based firm’s first quarter net loss compared with a net loss of more than $116.9-million a year earlier. The loss for the period ended Oct. 31 amounted to a net loss of nine cents per basic and diluted share compared with a net loss of 46 cents per basic and diluted share a year prior. Net revenue in the quarter totalled $35.8-million, down from $50.2-million in the same period last year. Hexo’s financial results were released at the same time as it announced a share consolidation that will combine 14 common shares into one share. Hexo says the consolidation is expected to take place around Dec. 19 and will affect Hexo’s listings on the Toronto Stock Exchange and Nasdaq. https://www.tausiinsider.com/cannabis-company-hexo-reports-52-1-million-net-loss-in-second-quarter-announces-share-consolidation...

Hexo Corp. HEXO-T says the Nasdaq Stock Market LLC has informed the cannabis company that it has regained compliance with minimum bid price requirements. Gatineau, Que.-based Hexo became non-compliant with the requirement when its closing bid price for common shares listed on the Nasdaq dropped below US$1 for 30 consecutive trading days. The company says it received a notice from Nasdaq on Jan. 19 that it has regained compliance after its shares closed at or greater than the US$1 per share minimum requirement for the last 10 consecutive business days. Hexo’s shares closed Thursday at US$1.49, up from about 50 cents US a year ago when Nasdaq issued the non-compliance notice. Charlie Bowman, CEO of Hexo, says the market is starting to recognize the strides the company has made this year to position Hexo for long-term success. He says the company has kept a tight focus on resetting the organization for profitable growth and remains dedicated to delivering a premium cannabis experience. ...