Canadian issues that are moving on early news

Gluskin Sheff + Associates Inc said fourth quarter net income was $2.3-million or $0.08 per common share, basic and diluted, down from $22.2-million or $0.76 per common share ($0.75 per common share diluted), for the three months ended June 30, 2011. GS also declared a regular quarterly dividend, a special dividend and an increase in its regular dividend.

Bioniche Life Sciences Inc. announced that one of its equine products, HIPPIRONTM 1000, has been counterfeited, and was discovered being sold via an Internet website.

Duluth Metals Limited, which fell more than 6 per cent Thursday, has received four Bureau of Land Management prospecting permits covering strategic targets for their Minnesota exploration program. The company intends to mobilize drill rigs on three different target areas, with the first drill rig targeting the significant gravity anomaly within the prospective Nickel Lake Macrodike.

YM BioSciences Inc. said net finance income was $2.2-million for the fourth quarter of fiscal 2012 compared to net finance costs of about $500,000 for the fourth quarter of fiscal 2011. Net finance income was $11.4-million for fiscal 2012 compared to net finance costs of $10.3-million for fiscal 2011. The changes in net finance income are primarily attributable to changes in the fair value adjustment for U.S. dollar warrants.

Oroco Resource Corp. has commenced an exploration program on its Xochipala project in Guerrero State, Mexico. The initial program on the 193 hectare property will include detailed geological mapping, prospecting and rock sampling. OCO Gained 2 per cent yesterday and is trading near a year-high at 34 cents.

CGX Energy Inc., which fell 24 per cent Thursday, provided an update on continued exploration on the company's petroleum prospecting licenses in Guyana.

Orbit Garant Drilling Inc. said revenue increased 21.2 per cent to $154.8-million in fiscal 2012, compared to $127.7-million in fiscal 2011. Earnings per share of $0.31 ($0.30 per share diluted), compared to $0.35 ($0.34 per share diluted) in fiscal 2011.

Novadx Ventures Corp. lost 7.5 per cent Thursday, and announced Friday that Daniel Roling has been appointed as President, CEO and Director effective immediately. The company also intends to change its name to Blackpaw Coal Corp. as part of the restructuring initiative.