The interior of a Black Diamond Group lodge in Horn River Basin, British Columbia is shown in this Sept. 2009 handout photo.The Canadian Press
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Belo Sun Mining Corp. (BSX-T) is raising $75-million in a bought deal financing agreement with a syndicate of underwriters co-led by TD Securities Inc. and Canaccord Genuity.
The agreement is for 77.3 million shares at 97 cents each.
The proceeds will be used for "pre-construction engineering activities, purchase of long lead time items, early project workings and working capital," the company said.
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Great Panther Silver Ltd. (GPR-T, GPL-N) says it's raising $26-million (U.S.) in a bought deal with Cantor Fitzgerald Canada Corp, Rodman & Renshaw a unit of H.C. Wainwright & Co., LLC, as joint bookrunners, and Euro Pacific Capital, Inc. and Sprott Private Wealth LP, as co-managers.
The underwriters have agreed to purchase 16.3 million units at $1.60 each.
The money will be used to help fund operating, development and exploration expenditures at its mining operations and projects and for possible future acquisitions, the company said in a release.
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Black Diamond Group Ltd. (BDI-T) says it's raising $22.5-million in a bought deal financing.
The underwriters, led by Raymond James Ltd. and including BMO Capital Markets, Acumen Capital Finance Partners Limited, Cormark Securities Inc., and Peters & Co. Ltd., are buying 4.5 million common shares at $5.05 each. It said insider participation is about $2-milllion.
"The net proceeds of the offering are expected to be used to partially repay outstanding indebtedness, which may be redrawn and used to fund capital expenditures, acquisitions, organic growth initiatives, working capital and for general corporate purposes," the company said.
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NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN-T) announced $100-million of new capital in a bought deal financing of about $50-million of trust units and $50-million convertible unsecured subordinated debentures .
It said the proceeds will support the accretive acquisition of "high quality healthcare real estate in its core international markets."
"The REIT intends to use the net proceeds to fund a portion of its previously announced strategic investments in Australia and New Zealand and to fund a portion of the pending acquisitions of two hospitals in Sao Paulo and Brasilia, Brazil occupied by Rede D'Or,"the company said.
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Tecsys Inc. (TCS-T) reported fourth quarter revenue of $21.1-million, up 34 per cent, compared to $15.8-million for the same time a year earlier.
Analysts were expecting revenue of $19.7-million.
Net profit was $3.8-million or 31 cents per share compared to $295,000 or 2 cents per share a year earlier.
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Calian Group Ltd. (CGY-T) says its health services line has been awarded several new contracts in recent months in correctional services at the federal, provincial and municipal levels of government with a total value of about $4-million.
"These contracts demonstrate the unique strength and diverse expertise of Calian's Health Services," stated CEO Kevin Ford in a release. "Aligned with the customer diversification pillar of our growth strategy, we are continually evolving each of our service lines to bring our world class services to a broader base of customers."
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Liquor Stores N.A. Ltd. (LIQ-T) appointed David Gordey as the executive vice president, chief operating officer, Canada and Steve Rop as the executive vice president, chief operating officer, United States. Matthew Rudd was named senior vice president, chief financial officer.
"The Liquor Stores Board and I are delighted that these three leaders have stepped up to further strengthen our company and continue to improve our customers' shopping experience," said CEO Stephen Bebis in a release.
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Sandvine Corp. (SVC-T) reported second-quarter revenue of $33.5-million (U.S.), up 17 per cent from $28.6-million in the same period a year ago.
Analysts were expecting revenue of $32-million in the most recent quarter.
Net income rose 34 per cent to $4-million or 3 cents per share, up from $3 million or 2 cents per share a year ago.
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Paramount Resources Ltd. (POU-T) is selling assets to Seven Generations Energy Ltd. (VII-T) for $1.9-billion.
The assets include 450 sections of land as well as facilities and gathering systems related to the oil and gas properties being sold.
"We believe this transaction provides a compelling opportunity to realize premium value on a portion of our Montney acreage for our shareholders," said CEO Jim Riddell in a release.
"While allowing for significant deleveraging of our balance sheet, the unique structure of this transaction provides Paramount shareholders continued exposure to the considerable upside associated with the Assets through the Company's significant shareholdings in Seven Generations."