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Our roundup of Canadian small-caps making news and on the move today.

Hong Kong-based SouthGobi Resources Ltd. (SGQ-T) said the Toronto Stock Exchange as deferred its delisting decision on the company's stock until no later than June 24. The mining company was placed on a remedial delisting review on Feb. 25 "in connection with its reliance on the financial hardship exemption which allowed the company to complete the private placement with Novel Sunrise Investments Ltd. without seeking shareholder approval. A delisting review is customary practice under TSX policies when a listed company relies on the financial hardship exemption," the company said.

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Vancouver-based Wealth Minerals Ltd. (WML-X) said it has entered into a formal share purchase agreement with Coronet Metals Inc. (CRF-X) to purchase Coronet Metals Peru S.A.C. and its advanced-stage Yanamina Gold Property. Yanamina consists of five mining concessions located in the Department of Ancash, Peru. As part of the deal, Wealth will issue 1-million shares to Coronet.

In addition, Wealth will assume responsibility for Coronet Peru's outstanding debt in an amount of no more than $81,000 (U.S.), as well as Coronet's obligations with respect to certain potential future share issuances and payments to Migme LTD. and its subsidiary, Westmag Resources LTD., the former owner of Yanamina, the company said.

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Winnipeg-based engineered products company Empire Industries Ltd. (EIL-X) reported first-quarter revenues of $33.2-million, down from $33.7-million a year ago. Adjusted EBITDA decreased by $900,000 to $1.5-million from $2.4-million in first quarter 2014. The net loss, after taking into consideration an unrealized loss on forward foreign exchange contracts of $1.9 million, was $900,000, versus net income of $1.2-million a year ago. Its backlog was $195-million at the end of the quarter, up from $155 million at Dec. 31, 2014.

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Toronto-based Amorfix Life Sciences (AMF-T), a product development company focused on diagnostics and therapeutics for misfolded protein diseases, reported a net loss for the three months ended March 31, of $428,005 compared to a net loss of $750,837 for the year-earlier period. "The decreased net loss in the current period results mainly from lower stock option compensation and lower research costs for its Alzheimer's disease diagnostic program," the company said. Contract research revenue for the quarter was nil compared to $8,354 in the year-earlier period. Sales and service revenue were $11,400 for the quarter compared with $43,512 in the comparable period.

The company said its board has formally authorized the company to review all strategic alternatives available to it, that could include a sale of all or part of the company. "The company had numerous discussions with potential investors in recent months, many of whom ultimately declined to invest based on a variety of factors, citing a reluctance to invest in a public biotechnology company at an early stage of the company's progress toward clinical trials, among other reasons."

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Calgary-based Crown Point Energy Inc. (CWV-X) reported oil and gas revenues of $4-million (U.S.) in the first quarter of 2015, up 17 per cent from the year-earlier quarter. For the first quarter, the loss from continuing operations was $1.6-million, a 4.6 per cent decrease from a year ago. The per-share loss from continuing operations was 1 cent compared with 2 cents a year ago.

"Subsequent to the end of the first quarter of 2015, Crown Point achieved an important milestone by completing a $15-million strategic financing that will support the company's 2015 exploration and development programs in Tierra del Fuego and Cerro de Los Leones," said Murray McCartney, CEO of Crown Point. "This quarter we realized a moderate increase in average daily sales volumes and net production, due in part to four wells brought on production since December, 2014. We remain focused on continuing to execute on our comprehensive exploration and development program, which we expect will drive further improvements in production."

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Richmond, B.C.-based Great Canadian Gaming Corp. (GC-T) announced that it has entered into an agreement with a company controlled by the Estate of Ross J. McLeod to buy 3.4-million shares of the company for $77.7-million or $22.85 per share. These shares represent about 4.88 per cent of the current number of outstanding common shares. Ross J. McLeod was a director and officer of the company who passed away in 2011. The shares will then be cancelled, the company said.

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Vancouver-based Altan Nevada Minerals Ltd. (ANE-X) said Teck American Inc., a subsidiary of Teck Resources Inc. (TCK.A-T, TCK.B-T; TCK-N) has withdrawn from the North Star project in Elko County, Nevada. Teck has transmitted a report and all pertinent data to the company subsequent to the completion of the 2014 exploration program, Altan said. "Altan Nevada's management is strongly encouraged by the results of this first round of deep exploration drilling at North Star, which we believe reinforces our view that the entire southeastern half of the uplifted horst block is prospective for the discovery of a major Carlin-type ore body," the company said, adding that it is evaluating the data from drilling in detail. The company also said it is  scheduling a third-party review of the core and data by an independent consultant with expertise in Carlin Trend exploration geology.

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