The TransForce Inc. headquarters is pictured in Montreal in a company 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.
Horizon North Logistics Inc. (HNL-T) says it's buying Empire Camp Equipment Ltd. for about $44.5-million in cash and newly issued Horizon North common shares.
"The strategic acquisition of Empire will help to diversify Horizon North's geographical footprint by gaining exposure to non-energy based projects as well as additional traction in our traditional markets," stated Horizon North CEO Rod Graham in a release.
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Lydian International Ltd. (LYD-T) announced an investment by the European Bank for Reconstruction and Development.
Under a proposed private placement, the EBRD will purchase 33.5 million shares for 34 cents each for total proceeds of $11.4-million.
"We are pleased to have the ERBD's continuing support as we begin development of the Amulsar Gold Project. This investment provides further recognition of Lydian's commitment to good international industry practices and standards as we make the transition from developer to producer," stated Lydian International CEO Howard Stevenson in a release.
Lydian International said the EBRD has been "an important strategic investor" since 2009.
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TransForce Inc. (TFI-T) reported revenue from continuing operations of $977.8-million in the second quarter, down five per cent from last year.
Analysts were expecting revenue of $986.5-million in the most recent quarter.
"This decrease reflects lower business volume, partially offset by acquisitions completed in the previous twelve months and the effect of local currency appreciation on U.S.-dollar denominated revenue," the company said.
Net income from continuing operations reached $44.3 million, or 47 cents per share, versus $60.2-million, or 58 cents per share, a year ago.
After taking into account the net loss from discontinued operations, net income amounted to $39.1-million, or 41 cents per share, versus $64.1-million last year, or 62 cents per share.
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Celestica Inc. (CLS-N, CLS-T) reported second-quarter revenue of $1.49-billion, up from $1.41-billion a year earlier.
Revenues were slightly above analysts' expectations of $1.46-billion for the most recent quarter.
IFRS net earnings were $36.2-million or 25 cents per share, up from $24.2-million or 14 cents per share a year earlier.
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Westport Fuel Systems Inc. (WPT-T) has appointed Nancy Gougarty as CEO, effective immediately.
Ms. Gougarty has served as president and chief operating officer of Westport since July of 2013. She was on the board of Westport from February of 2013 to July of 2013.
David Demers, Westport's current CEO, is retiring from the company "but will be available to the leadership team in an advisory role through a transition period," the company said in a release.
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Osisko Mining Inc. (OSK-T) says it has sold about 1.3-million shares of Metals Creek Resources Corp. (MEK-V) at an average price of approximately 10.34 cents per share for total consideration of $133,891.50.
The company said now now owns about 3.6 million shares of Metals Creek, representing about a 11.6-per-cent stake.
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Kingsway Financial Services Inc. (KFS-T, KFS-N) reported a net loss attributable to common shareholders of $600,000 (U.S.) or 3 cents per share in the second quarter, compared net income of $1.8-million, or 9 cents per share for the same time last year.
Total revenue was $41.1-million, up from $39.1-million a year earlier. Net investment income was $1.1-million compared to $500,000 in the second quarter of 2015.