TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,715.41, down 75.08 points.)
Toronto-Dominion Bank (TSX:TD). Financials. Down $2.09, or 2.2 per cent, to $94.59 on 13.8 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 76 cents, or 3.6 per cent, to $21.59 on 7.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up one cent to $58.32 on 7.1 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 86 cents, or 2.1 per cent, to $41.36 on 6.6 million shares.
Horizonte Minerals Plc. (TSX:HZM). Materials. Up one cent, or 8.7 per cent, to 12.5 cents on 6.3 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 18 cents, or 0.7 per cent, to $26.76 on 5.7 million shares.
Companies in the news:
Tilray Brands Inc. (TSX:TLRY). Down 23 cents or 2.9 per cent to $7.84. Cannabis company Tilray Brands Inc. has signed a definitive agreement in its proposed plan with rival Hexo Corp. first announced last month. Under the deal, Tilray will acquire the US$193 million in outstanding senior secured convertible notes that were issued by Hexo and held by funds affiliated with HT Investments MA LLC. The notes will be amended to include conversion rights at a price of 85 cents Canadian per Hexo share, a price that implies Tilray Brands would have the right to convert the notes into a 35 per cent stake in Hexo. Hexo will not receive any proceeds as a result of Tilray Brands’ purchase of the notes from HTI. When the proposed plan was announced on March 3, Tilray said it would acquire up to US$211 million in senior secured convertible notes that would be amended to include conversion rights at a price of 90 cents Canadian per Hexo share. The deal will also see Tilray and Hexo form a joint venture to provide shared services to both companies. They estimate total savings, which will be shared equally, are expected to be up to C$50 million within two years.
Home Capital Group Inc. (TSX:HCG). Down 65 cents or 1.9 per cent to $34.27. Mortgage lender Home Capital Group Inc. has nominated three new members to its board of directors, including veteran telecommunications executive Joe Natale. The Toronto-based company says the election will take place at its annual meeting next month. Natale left his role as president and CEO of Rogers Communications Inc. last November after a high-profile boardroom rift. He previously served as CEO of Telus Corp. and as board member of TD Bank Group, Celestica Inc. and the Hospital for Sick Children. Home Capital also nominated David Court, senior partner emeritus at McKinsey & Co. and a member of multiple boards including Brookfield Business Partners LP and Canadian Tire Corp., and Edward Waitzer, a former senior partner at Stikeman Elliot LLP and former chairman of the Liquor Control Board of Ontario and the Ontario Securities Commission. Alan Hibben, Home Capital's board chairman, says the candidates mark a turning point in the future growth and development of the company.
Organigram Holdings Inc. (TSX:OGI). Up 19 cents or 10 per cent to $2.09. Cannabis company Organigram Holdings Inc. reported a loss in its latest quarter as its revenue more than doubled compared with a year ago. The company says its net loss for the quarter ended Feb. 28 amounted to $4 million compared with a loss of $66.4 million in the same period a year earlier. Gross revenue in what was Organigram's second quarter totalled $43.9 million, up from $19.3 million a year earlier. Net revenue was $31.8 million, up from $14.6 million. The company says the increase was primarily due to a rise in adult-use recreational sales and international revenue, partly offset by a lower average net selling price due to a change in product mix and a decrease in medical revenue. In its outlook, Organigram expects its third-quarter revenue to be up from its second quarter due to ongoing sales momentum, stronger market growth and its expanded product line. It also says it expects to benefit from greater capacity to meet demand at its Moncton campus, increased throughput at its Winnipeg facility and its acquisition of Quebec-based company Laurentian Organic Inc.
This report by The Canadian Press was first published April 12, 2022.
The Canadian Press
