The type-IIa stone, just smaller than a tennis ball, is the biggest unearthed since the 3,106-carat Cullinan gem found in South Africa in 1905.LUCIEN COMEN/LUCARA DIAMOND CORP/AFP / Getty Images
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Mullen Group Ltd. (MTL-T) says founder Roland Mullen is considering estate planning initiatives that could see him sell up two million of his approximately seven million shares of the company over the next 12 months "subject to several factors including market conditions."
The company said it will not facilitate any trades contemplated in the estate planning initiative and "is advised that such trades will be conducted, to the extent possible, in an orderly manner."
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Lucara Diamond Corp. (LUC-T; LUC-Q) says it sold 12 diamonds from its Karowe mine in Botswana totaling 1,098 carats, for gross revenues of $38.7-million.
"It is fitting that this tender, the tenth Exceptional Stone Tender for the company was concluded on the one-year anniversary of the recovery of the historic 1,109 carat, Lesedi La Rona diamond," stated CEO William Lamb in a release.
To date, the company said it has sold 144 diamonds bringing in revenues of more than $460-million.
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Merus Labs International Inc. (MSL-T; MSLI-Q) says it has received written notification from the Nasdaq exchange that it is not in compliance with the minimum bid price requirement of $1 (U.S.)
"This does not impact the company's Nasdaq listing at this time and the company intends to address this deficiency within the prescribed grace period," the company stated.
It said its business operations are not affected by the notification, nor is its TSX listing.
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Orca Exploration Group Inc. (ORC.B-X) reported interim third-quarter revenue of $17.7-million (U.S.), up from $15.9-million a year ago.
Funds flow from operating activities was $11.6-million or 33 cents per share compared to $9.5-million or 27 cents per share a year earlier.
Net income was $5.3-million or 15 cents per share as compared to income of $6.1-million or 18 cents per share a year ago, the company said.
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RDM Corp. (RC-T) reported fourth-quarter revenue of $5.5-million (U.S.) compared to $6.1-million a year ago.
Net income was $1.5-million or 7 cents per share compared to $2.1-million or 9 cents a year earlier.
Analysts were expecting revenue of $5.4-million and earnings of 3 cents per share.
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Great Canadian Gaming Corp. (GC-T) says director Neil Baker has entered into a secondary offering with Canaccord Genuity to sell six million common shares of the company. The agreement includes an option to increase the secondary offering by an additional two million common shares all at a price of $23.25 per common share.
"Prior to the transaction the Insider owned or controlled 10,943,600 common shares representing approximately 18 per cent of the corporation's issued and outstanding shares," the company said in a release. He'll own 4.8 per cent after the transaction, including the exercise of the additional option.
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Solium Capital Inc. (SUM-T) says it has struck a license agreement with Morgan Stanley to provide the company with equity administration technology.
Solium says the technology will support Morgan Stanley's Global Stock Plan Services business for U.S.-listed corporations and those with headquarters in the U.S.
"This milestone agreement in the U.S. marketplace is a strong endorsement of Shareworks as the premier cloud-based technology platform for global equity plan administration," stated Solium CEO Marcos Lopez in a release.
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Tembec Inc. (TMB-T) reported fourth-quarter sales of $389-million as compared to $373-million in the same quarter a year ago.
Net earnings came in at $12-million or 12 cents per share compared to a net loss of $32-million or 32 cents per share a year earlier.
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Yellow Pages Ltd. (Y-T) says it has a new 10-year IT outsourcing agreement with CGI Group (GIB.A; GIB-N) valued at $160-million.
Under the agreement, Yellow Pages will outsource some of its IT operating infrastructure and platform management to CGI. As a result, 119 IT positions from Yellow Pages will be transferred to CGI, most of them in Montreal.
"This agreement will further contribute to finding the operational and business efficiencies that make up part of our return-to-growth plan," stated Yellow Pages CEO Julien Billot in a release.