Canadian issues that are moving on early news
Wi-LAN Inc. has initiated litigation claiming patent infringement in the U.S. District Court for the Southern District of Florida against LG Electronics U.S.A., Inc. and related parties. The suit against LG claims infringement of U.S. Patent Nos. 6,359,654 and 7,034,889 related to digital TV and display technology. WIN lost 1 per cent yesterday.
Network equipment maker Sandvine, which gained 3.5 per cent yesterday, reported $21.8-million (U.S.) in revenue for its third quarter of 2012, a non-IFRS loss of $0.4-million and a net loss of $0.9-million. These figures compare to revenue of $25.8-million, a non-IFRS loss of $3.5-million and a net loss of $4.2-million a year earlier.
Kingsway Financial Services Inc., which soared 22 per cent Wednesday, announced it was contacted by the New York Stock Exchange about the unusual trading volume of its shares. Kingsway reiterates its policy not to comment on unusual market activity or rumours and speculation in the marketplace.
Destiny Media Technologies announced that its disruptive watermarking technology will be patented in Japan. Approval was received and the patent is expected imminently. Two patents have been granted for this technology in the US and a third US patent is pending. Parallel patents are in the application stage in markets around the world, including Canada, Europe and Asia.
D-Box Technologies Inc. announced today 4 new locations with international theatre partners Cineworld Cinemas, Odeon Cinemas, CinemaxX and Europa Cinemas. These new locations will generate both sales and licensing fees payable to D-BOX in accordance with their use. DBO lost 4 per cent yesterday, moving closer to year low 20 cents.
Richelieu Hardware Ltd. is slated to release its financial results for the 3rd quarter today. A conference call on Richelieu’s 3rd quarter 2012 results will be held at 2.30 p.m.
IC Potash Corp. has awarded SNC-Lavalin Group Inc. a definitive contract to develop several key sections of the feasibility study of ICP’s Ochoa Sulphate of Potash Project in New Mexico. Work on the feasibility study is already underway and is expected to be completed by August 2013.
Marquee Energy Ltd., an Alberta focused oil and gas company which is trading near a year low 87 cents, announced that it has completed a strategic asset acquisition in its core Michichi area that “provides strategic infrastructure to enhance the company’s continued focus on developing its extensive inventory of identified Mannville and Banff oil opportunities in the area.” It also provided an operational update on recent well operations and fourth quarter drilling activities.
OceanaGold Corporation, which closed down 2.4 per cent after going very close to year highs Wednesday, provided a progress report on the Didipio Project in the Philippines where pre-commissioning activities are underway.
Whitecap Resources Inc. reported that it has achieved record production of 16,900 boe/d (71 per cent light oil and NGLs) for the month of September, 2012 (based on field estimates). This represents an increase of 25 per cent over second quarter 2012 production and a 153 per cent increase over September 2011 production. On a fully diluted per share basis, this represents an increase of 45 per cent over September 2011 production. Whitecap’s third quarter 2012 average production will be within our previous guidance of 15,500 – 16,000 boe/d.