Precious metals miner Silver Standard Resources.Reuters
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
MacDonald Dettwiler and Associates Ltd (MDA-T) said on Friday it had agreed to buy U.S.-based DigitalGlobe Inc for about $3.10-billion to strengthen its position in the lucrative satellite imagery market.
Under the deal, MacDonald Dettwiler and Associates (MDA) will offer $17.50 in cash and 0.3132 of its share for each DigitalGlobe share held.
The deal includes assumption of DigitalGlobe's debt of $1.60-billion and is expected to add to MDA's operating earnings per share in 2018.
The total cash-and-stock offer represents a premium of 18 per cent to DigitalGlobe's closing stock price on Feb. 16, before reports of a potential deal emerged.
- Reuters
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Redknee Solutions Inc. (RKN-T) said it was informed that its former CEO and current board member, Lucas Skoczkowski, disposed of 2.15 million Redknee common shares on Feb. 21, when senior management and the board were in a "blackout" period and not permitted to sell or buy shares.
"The company is evaluating the matter and is discussing the matter with the OSC and TSX, and intends to fully cooperate as required," Redknee said in a release.
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MTY Food Group Inc. (MTY-T) reported fourth-quarter revenue of $72.8-million up from $39.5-million a year ago, driven by acquisitions.
Net income was $24.6-million or $1.15 per share versus $3.1-million or 16 cents a year ago.
Analysts were expecting revenue of $53.5-million.
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Silver Standard Resources Inc. (SSRI-Q; SSO-T) reported fourth-quarter revenue of $127.3-million (U.S.) versus $90.6-million a year earlier.
Net earnings of $12.1 million or 10 cents per share compared to a loss of $66.7-million and 83 cents a year earlier.
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Clarke Inc. (CKI-T) reported net income of $9.4-million for the fourth quarter up from $6.6-million a year earlier.
The company said the gain "was largely driven by the increase in unrealized gains on investments during the period."
Comprehensive income for the fourth quarter was $11-million compared to $9.3-million for the same period in 2015.
Earnings per share came in at 64 cents compared to 42 cents for the same period in 2015.
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Primero Mining Corp. (P-T; PPP-N) said it has reached a "mutual decision" with CEO Ernest Mast for him to leave the company to pursue other opportunities no later than March 6.
Former CEO and current vice chairman Joseph Conway will be appointed as interim president and CEO.
"Mr. Mast will continue to assist the company in facilitating a smooth transition in leadership," the company said.
Mr. Conway is also the former CEO of Iamgold Corp.
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InterRent Real Estate Investment Trust (IP.UN-T) is raising $50-million in a bought-deal financing.
It has an agreement with a syndicate of underwriters to purchase 6.5 million trust units at $7.68 each.
The net proceeds will be used in part to pay down corporate debt "including the debt incurred with the anticipated closing of the Montreal acquisition in early March, and for working capital and general corporate purposes," the company said.
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Tree Island Steel Ltd. (TSL-T) reported fourth-quarter revenue of $45.9-million down from $54.3-million a year earlier.
Its net loss was $705,000 or 2 cents per share compared to net income of $5.5-million or 18 cents per share a year earlier.
Analysts were expecting revenue of $49.3-million and earnings of 2 cents per share.
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Altus Group Ltd (AIF-T) said consolidated revenues increased 3.9 per cent year over year to $115.3-million in the fourth quarter.
Consolidated adjusted EBITDA increased 13.6 per cent to $22.1-million.
Profit was $8.9-million or 23 cents per share compared to $6.5-million or 18 cents per share during the same period in 2015.
Adjusted EPS was 38 cents in the fourth quarter, up 22.6 per cent compared to 31 cents in the fourth quarter of 2015.
Analysts were expecting revenue of $116.9-million and earnings of 42 cents.
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Newalta Corp. (NAL-T) reported fourth-quarter revenue of $63.7 million roughly flat with $64.7-million a year earlier.
Analysts were expeting revenue of $57.2-million.
Its net loss in the quarter decreased 35 per cent to $75.3-million compared to prior year.
The decrease in loss was primarily driven by reduced impairment in 2016, the company said.
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Mosaic Capital Corp. (M-T) says its board has approved changing the common share dividend payments from a quarterly basis to a monthly basis and will increase the common share dividend by 5 per cent on an annual basis to 42 cents from 40 cents.
The first monthly dividend payment 3.5 cents per share will be paid on April 28 to shareholders of record on April 14.
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Colabor Group Inc. (GCL-T) reported consolidated sales for the 119-day period ended Dec. 31, 2016 of $432.5-million, compared to $431.9-million for the 112-day period ended Dec. 26, 2015.
Comparable sales for the same number of days were down 4.3 per cent, the company said.
It had a net loss of $200,000 compared to a net loss of $29.3-million last year.
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Centerra Gold Inc. (CG-T) reported net earnings of $63.6-million (U.S.) or 23 cents per share in the fourth quarter compared to a net loss of $2.9-million or a penny per share in the fourth quarter of 2015.
Results in the fourth quarter of 2015 included a $27.2-million or 11-cents-per share inventory impairment at the Kumtor mine.
Analysts were expecting earnings of 24 cents per share in the most recent quarter.
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Altius Minerals Corp. (ALS-T) says Fairfax Financial Holdings Ltd, through subsidiaries, will make an up to $100-million investment in the company in exchange for Altius preferred securities and warrants.
Altius said Fairfax has agreed to subscribe, on a private placement basis, for 5 per cent preferred securities issuable in tranches of not less than $25-million.
Altius has also agreed to issue 6.7 million common share purchase warrants, exercisable at $15 per share.
Altius said the proceeds will be used for investing in opportunities in the mining and minerals sector and for general corporate purposes.
Fairfax will have the right to nominate one director to the board of Altius.