FINWIRES · TerminalLIVE
FINWIRES

Calian Group to Sell US-Based IT Business

By

Calian Group (CGY.TO) said it will sell its commercial IT business in the US to California-headquartered Trace3.

The deal includes C$43 million in cash and Trace3's assumption of C$17 million in liabilities, Calian said Wednesday.

Calian said the sale reflects its strategy to focus on the defense, space and other essential industries in the US, UK and Europe. On Monday, Calian completed its acquisition of Galaxy Broadband Communications, a satellite and remote connectivity firm.

Calian said it plans to use the proceeds from Wednesday's announcement to fund acquisitions and organic growth initiatives. The transaction is expected to close in the company's fiscal fourth quarter.

Related Articles

Mining & Metals

Faraday Copper Shareholders Approve Share Issuance for San Manuel Project Acquisition

Faraday Copper (FDY.TO) said Tuesday that its shareholders approved the offering of shares related to the previously announced acquisition of the San Manuel project from a BHP Group subsidiary.The resolution required approval by a simple majority of votes cast by disinterested shareholders at a special meeting.Faraday said about 188.3 million common shares were voted at the meeting, representing 64.32% of its issued and outstanding shares, excluding shares beneficially owned or controlled by BHP or its subsidiaries.The transaction is expected to close by the end of the third quarter of 2026.

$FDY.TO
Mining & Metals

Grey Wolf Animal Health Posts Flat Earnings, Higher Revenue for the Second Quarter

Grey Wolf Animal Health (WOLF.V) after trade Tuesday reported second-quarter earnings per share of C$0.02, unchanged year over year.Revenue for the quarter ended June 30 rose 11% to C$10.6 million from C$9.5 million a year earlier.Pharmacy revenue increased 9.3% to C$6.7 million and Animal Health revenue grew 14% to C$3.9 million during the quarter, the company added.FactSet figures weren't available.The company's shares closed down C$0.05, or 3%, to C$1.60 on the TSX Venture Exchange.

$WOLF.V
Mining & Metals

Lithium Ionic Sells Salinas Properties to PLS For $30 Million

Lithium Ionic (LTH.V) sold its Salinas group of lithium properties, including Baixa Grande in Brazil, to PLS Group for $30 million in cash at closing, the company said after trade Tuesday.A further $7.5 million will be payable subject to certain conditions being met. Lithium Ionic also retains a 2.0% royalty on future spodumene sales from Baixa Grande."The completion of this transaction crystallizes significant value from Salinas while strengthening Lithium Ionic's balance sheet with US$30.0 million in non-dilutive cash proceeds," said Chief Executive Blake Hylands."With this transaction complete, our focus remains squarely on advancing our flagship Bandeira Lithium Project toward a construction decision and our objective of becoming a near-term, low-cost lithium producer," he added.Lithium Ionic shares closed up C$0.035 to C$0.655 on the TSX Venture Exchange.

$LTH.V