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Despite a solid start to the year, markets on Bay Street and Wall Street have struggled since fresh calendars went up.

This week, Canada’s top banks have been pointing to economic pain ahead with higher loan loss provisions and a fall in quarterly profits.

Alongside the struggle of the markets at large, investors are starting to seriously consider their correction investment strategies. A major part of the strategy is to stay safe, calm, and diversified, but another key factor for many investors on the Bullboards is to gauge which companies will be able to recover, and when.

Baytex Energy Corp. (TSX:BTE) has moved to acquire Ranger Oil Corp.

The total consideration to be paid by Baytex to acquire the pure-play Eagle Ford company, including the assumption of net debt, is approximately US$2.5 billion.

The transaction has been unanimously approved by the boards of directors of Baytex and Ranger and is expected to close late in the second quarter of 2023.

The terms of the agreement stipulate that Ranger shareholders will receive 7.49 Baytex shares plus US$13.31 cash for each Ranger common share, for total consideration of approximately US$44.36 per share.

Hydro Québec has approved Critical Elements Lithium’s (TSXV:CRE) connection and powerline relocation project.

This will allow the company to move forward with its Rose Lithium-Tantalum Project.

The Montreal-based lithium company needs the utility provider’s cooperation in order to move ahead with work on the lithium-tantalum project located in Québec.

Various environmental agencies have now signed off on the Hydro Québec project, including the Federal Minister of Environment and Climate Change.

Hydro-Québec must relocate a segment of its Eastmain-1-Nemiscau line, which currently crosses the future mine site on 4.1 kilometres, in order for the mine project to move forwards.

Critical Elements aims to eventually mine and produce lithium for the electric vehicle and energy storage system industries.

Exro Technologies (TSX:EXRO) has signed an MOU with a supplier to the global automotive industry.

The supplier is a market leader in environmentally sustainable mobility for large-scale automotive OEM customers. It is headquartered in Europe with over 25,000 employees worldwide.

The companies will transition to a definitive agreement upon demonstrating the performance of the partner’s electric motors with Exro’s standard L040 800V Coil Driver inverter, which is anticipated by Q3 2023.

The parties intend to develop next-generation powertrain solutions for electric commercial vehicles and off-highway applications in Europe and North America.

Next week we’ll shift focus to other sectors with a better understanding of how markets on both sides of the border will manage the rougher terrain of the modern economy, along with what challenges still await.

The Market Herald keeps you in the loop on the hottest small-cap stocks, keeping you ready for the shift to recovery, and with it, a buyer’s market.

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