Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Baytex Energy Corp. (BTE-T; BTE-N) says it's buying heavy oil assets in the Peace River area of northern Alberta for $65-million.
"The assets are located immediately adjacent to our existing Peace River lands, add approximately 3,000 boe/d [barrels of oil equivalent per day] of production and more than double our land base in the area," the company said.
Baytex said the acquisition will be funded through a concurrent $100-million bought deal financing.
Savanna Energy Services Corp. (SVY-T) says it has an agreement with Alberta Investment Management Corporation (AIMCo) for a $200-million second lien senior secured term loan facility, as well as a private placement of 13 million shares, at $1.45 each, to raise $18.85-million.
Savanna said it has concurrently entered into an agreement with a syndicate of underwriters led by Peters & Co. to purchase, on a bought-deal basis, 13 million shares at $1.45 each for gross proceeds of $18.85-million.
"The net proceeds of the AIMCo financings and bought deal financing are expected to be used by Savanna to reduce indebtedness and for general corporate purposes," the company said in a release.
Savanna also recently secured a $17-million mortgage with the Business Development Bank of Canada on its operating facility in Leduc.
NYX Gaming Group Ltd (NYX-X) reported third-quarter revenue of $54.4-million, which it said was up 309 per cent compared to a year ago, driven by acquisitions.
Net income was $41.4-million or 44 cents per share compared to a loss of $6.5-million or 14 cents per share a year ago.
Madison Pacific Properties Inc. (MPC-T) reported net income of $55.4-million for the year ended Aug. 31. That compared to net income of $30.7-million a year earlier.
Canacol Energy Ltd. (CNE-T) says it has negotiated four new "take or pay" gas sales contracts with existing and new customers.
The contracts start in December, 2018, have a term of between five and 10 years, and are with large, established offtakers, the company said.