Markham-Ont.-based Extendicare has already shaken up its business with many changes in the past few years.Deborah Baic/The Globe and Mail
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Northview Apartment Real Estate Investment Trust (NVU.UN-T) says it plans to apply to the TSX to buy back units under a normal course issuer bid.
"The REIT's 2016 strategic initiatives include the disposition of non-core assets, with the proceeds used to reduce debt levels and repurchase units," the company said in a release. "Management of Northview believes that from time to time market prices of units do not reflect their underlying value."
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Extendicare Inc. (EXE-T) says its home health care division, ParaMed, was awarded a contract with the Vancouver Coastal Health Authority.
It said the contract represents about 330,000 hours of service and more than $11.5 -million of annual revenue to provide support services in the Richmond Community of Care area.
"Currently, ParaMed only operates in the Fraser Health Authority in British Columbia and this new, four-year contract will allow for an expansion of service delivery in the province," the company stated. "This contract will also allow the company to leverage economies of scale and efficiencies from existing business and may create new opportunities with a variety of private-pay strategies."
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Trimac Transportation Ltd. (TMA-T) says it has received a go-private proposal from its principal shareholder, Trimac Holdings Ltd.
"Under the proposed transaction, all of the shareholders of Trimac, other than those participating in the privatization, would receive $6.25 cash for their Trimac shares," the company said in a release.
The stock closed at $5.59 on Friday
Trimac Holdings is indirectly controlled by Trimac chairman Jeffrey McCaig.
"A special committee of independent directors has been established to consider the proposed transaction and the special committee has retained an independent valuator who is in the process of preparing a valuation of the Trimac shares," the company said.