Toronto Stocks Higher at Midday; Very Good Food Shares Tumble on Equity Raising

10/15/2021 | 12:18pm

By Adriano Marchese

Toronto stocks were higher midday Friday, with the S&P/TSX Composite Index up 101.91 points, driven by gains in the health technology and producer manufacturing sectors. In the session, consumer durables and health services were the laggards. Very Good Food Co.'s shares plummeted after the plant-based-food company priced a roughly US$30 million equity raising.

Canada's S&P/TSX Composite Index was up 0.49% at 20922.12 mid-trading, while the blue-chip S&P/TSX 60 was up 0.58% at 1255.12.

Shares in Very Good Food were down 21% at C$2.28 after it announced an sale agreement with institutional investors for 15 million units of the company at US$2 apiece, with each unit made up of 1 share and one-half share-purchase warrant entitling the holder to buy 1 share at a $2.35 exercise price.

Other market movers:

Avino Silver & Gold Mines Ltd. shares were up 1.3% at C$6.50 after it said that silver-equivalent production increased 70% in the third quarter, to 285,464 silver-equivalent ounces at its mine near Durango, Mexico.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

10-15-21 1217ET

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