TORONTO — Two prominent cannabis companies were some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,446.14, up 151.76 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down half a cent, or 1.12 per cent, to 44 cents on 12.1 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Down half a cent, or 5.88 per cent, to eight cents on 9.7 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up five cents, or 0.22 per cent, to $22.80 on 7.8 million shares.
Bonavista Energy Corp. (TSX:BNP). Energy. Up half a cent, or 9.09 per cent, to six cents on 7.9 million shares.
Freegold Ventures Ltd. (TSX:FVL). Materials. Up 25 cents, or 28.74 per cent, to $1.12 on 7.7 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 19 cents, or 0.81 per cent, to $23.61 on 6.7 million shares.
Companies in the news:
Air Canada (TSX:AC). Down nine cents to $17.10. Air Canada has quietly changed its refund policy to allow some customers whose flights were cancelled due to the COVID-19 pandemic to recoup their cash — but not passengers whose trips originated in Canada. Customers with flights originating in the European Union, Switzerland and Iceland due to the pandemic are “entitled to receive a refund,” states a document recently posted to Air Canada’s website.
Calfrac Well Services Ltd. (TSX:CFW). Down one cent or 5.6 per cent to 17 cents. Calfrac Well Services Ltd. is reporting a sharply deeper loss on lower revenue as demand for its oil and gas well completion services slumped in the first quarter. The Calgary-based company’s net loss jumped to $123 million in the three months ended March 31 from a loss of $36 million in the year-earlier period. Revenue plunged 36 per cent to $305.5 million from $475 million in the same period of 2019.
Canopy Growth Corp. (TSX:WEED). Down 15 cents to $22.62. Canopy Growth Corp. is shaking up its Acreage Holdings Inc. acquisition deal because of “broader market and economic factors.” Smiths Falls, Ont.-based Canopy signed an agreement in April 2019 to take over the New York company if cannabis production and sale became federally legal in the United States. As part of the changes, which include an up-front payment for Acreage shareholders and certain convertible security holders totalling US$37.5 million or about 30 cents US per share, Acreage shareholders will receive 0.7 of a fixed share and 0.3 of a floating share for each Acreage share they hold.
Aphria Inc. (TSX:APHA). Down seven cents or 1.2 per cent to $5.76. Aphria Inc. has reached a deal worth $29.1 million to settle a dispute with Emblem Cannabis Corp. and Aleafia Health Inc. The settlement ends a disagreement the companies had over Aleafia’s decision in 2019 to cancel a supply agreement it had with Aphria. Aphria CEO Irwin Simon says the deal allows the companies to avoid the distraction and the potential expense of prolonged litigation. Under the agreement, Emblem, which was acquired by Aleafia in 2019, will receive $15 million in cash, $10 million in Aphria shares and a waiver of claimed receivables.
This report by The Canadian Press was first published June 25, 2020.
The Canadian Press