Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
New Flyer Industries Inc. (NFI-T) says its largest shareholder, Marcopolo S.A., has sold 4.5 million common shares of New Flyer, or about 7.4 per cent of its shares, through a "bought block trade" arranged by a syndicate of underwriters led by CIBC World Markets.
New Flyer said Marcopolo now owns about 10.8 per cent of the company.
"The sale has allowed Marcopolo to monetize a portion of its holdings for its own capital allocation purposes," the company said in a release.
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Ceres Global Ag Corp. (CRP-T) reported fourth-quarter revenue of $149.3-million, up from $59.3-million for the same period last year.
The company said net loss was $1.9-million or 7 cents per share, versus a loss of $1.7-million or 6 cents a year earlier.
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Pattern Energy Group Inc. (PEGI-Q, PEG-T) says it plans to acquire a 90 MW interest in the operating 180 MW Armow Wind power facility in Ontario from Pattern Energy Group LP for $132-million (U.S.)
It said the acquisition will be funded with available liquidity.
"The commitment to acquire Armow Wind, on the heels of our successful equity offering last month, demonstrates our ability to use our available capital for accretive projects," stated CEO Mike Garland in a release.
The company said Pattern Energy has rights of first offer to Pattern Development's project development pipeline, which includes approximately 5,900 MW of wind and solar projects.
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Tembec Inc. (TMB-T) says it signed a binding agreement with Resolute Forest Products to proceed with the sale of Tembec's Senneterre sawmill operations in Quebec.
"This sale is conditional on the transfer of the sawmill's wood supply from Tembec to Resolute," the company said in a release.
It said discussions on this transfer with the provincial government will take place over the next several weeks.
Tembec said it will receive "a nominal amount" for the sawmill assets and the forest operations. Certain working capital items are also included in the sale.
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Sirius XM Canada Holdings Inc. (XSR-T) says it's aware of a potential class action filed with the Superior Court of Quebec.
"The applications seek to authorize the bringing of class action litigation against the company in connection with Quebec's Consumer Protection Act and includes bringing a class action litigation against certain other prominent Canadian companies in the media, technology, telecommunication and financial sectors in addition to the company," it said in a release.
Sirius said it intends to "vigorously defend itself against any potential class action litigation."
Shareholders recently approved a proposal to take the satellite radio provider private, despite opposition from dissident investors.
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Paramount Resources Ltd. (POU-T) says it has monetized part of its holdings of 33.5 million common shares of Seven Generations Energy Ltd. acquired in August as partial consideration for the sale of its Musreau/Kakwa assets.
Paramount says it has monetized 24.7 million shares for gross proceeds of approximately $735-million, according to a release.
It said proceeds will be used to fund the ongoing development of its oil and gas properties.
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Teranga Gold Corp. (TGZ-T) says shareholders of Gryphon Minerals Ltd. (GRY-A) voted 91 per cent in favour of their proposed acquisition of Gryphon.
"This is an exciting transaction and we are pleased that Gryphon's shareholders voted significantly in favour of the scheme," Teranga CEO Richard Young said in a release. "Together Gryphon and Teranga are stronger as one, creating a multi-jurisdictional mid-tier West African growth company."
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