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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Bird Construction Inc. (BDT-T) says it has been selected by Fraser Health as the "preferred proponent" to design and build a new mental health facility and energy centre at Royal Columbian Hospital in New Westminster, B.C.
"Projects like these are technically complex, which remain a strategic focus for our company, and provide the opportunity for our staff to participate in giving back to the New Westminster community through the construction of a facility that will have a lasting positive impact," stated CEO Ian Boyd in a release.
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theScore Inc. (SCR-X) issued a release on Dec. 30, at the request of the Investment Industry Regulator of Canada (IIROC), to say it's not aware of any material change in the company's operations that would account for the recent increase in market activity.
The stock closed down 3 per cent, or a penny, to 28 cents on Friday and is up 64 per cent over the past month.
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Ensign Energy Services Inc. (ESI-T) says its board approved a 2017 capital expenditure budget of $61-million which "reflects Ensign's current focus on retaining a strong balance sheet while making selective capital expenditures on a number of growth opportunities."
The company also amended and extended its revolving term credit agreement. It reduced the credit available to $500-million and has amended certain financial covenants.
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Medical Facilities Corp. (DR-T) appointed Tyler Murphy as chief financial officer.
Mr. Murphy has more than 15 years of experience in senior financial management in the healthcare industry and prior to joining the company served as vice president and treasurer with one of the largest publicly traded healthcare companies in the U.S., the company said.
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Concordia International Corp. (CXRX-Q; CXR-T) has entered into a three-year, co-promotion agreement with RedHill Biopharma Ltd. (RDHL-Q). The companies expect to expand sales of Donnatal, Concordia's product used in the treatment of irritable bowel syndrome.
RedHill will incur the sales and marketing costs associated with promotional activities, while Concordia will provide materials and samples, the companies said in a release.
Concordia said it will keep all revenue "up to a predetermined level of sales and only after reaching that predetermined level will revenue be shared between the company and RedHill."
Concordia also plans to continue to sell Donnatal in U.S. sales territories outside the scope of the RedHill agreement.
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Nevsun Resources Ltd. (NSU-T; NSU-A) appointed Ian Pearce and David Smith as independent directors, which marks "the first step in a planned board renewal process designed to reflect Nevsun's growth and strategic transformation following last year's acquisition of the world class copper-gold Timok project in Serbia," the company said.
The company also announced plans to launch an international CEO search this year in anticipation of Cliff Davis' planned retirement.
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Just Energy Group Inc. (JE-T; JE-N) has amended and restated its credit facility with its syndicate of lenders to increase the capacity by $50-million to $342.5-million.
"We are pleased to announce the addition of the LC Facility [letter of credit facility] through our long-time lender Canadian Imperial Bank of Commerce with the support of EDC [Export Development Canada] alongside our other existing banking relationships," chief financial officer Pat McCullough stated in a release.
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Stingray Digital Group Inc. (RAY.A-T; RAY.B-T) signed an agreement with UNITEL GmbH & Co. KG, a producer and distributor of classical music for audio-visual media, to acquire, operate, and distribute its international, premium pay TV channel, Classica.
"The acquisition of Classica marks the logical next step in our product development strategy, and demonstrates our intent and ability to act as an industry consolidator," stated Stingray CEO Eric Boyko. "With this acquisition, Stingray becomes the undisputed leading provider of classical music programming worldwide."