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Athabasca Oil Corp. is selling a royalty interest in its bitumen assets to a holding company as the oil sands producer seeks to shore up finances weakened by the sharp drop in world oil prices.

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Héroux-Devtek Inc. (HRX-T) has signed a long-term contract with Hanwha Corporation of South Korea to jointly develop the landing gear system for the KF-X fighter aircraft.

The contract follows the signing of a memorandum of agreement with Hanwha in February, the company said.

"The signature of this long-term contract confirms our participation on a new program that expands our global reach in the landing gear market," stated Martin Brassard, vice president and chief operating officer of Héroux-Devtek in a release.


Alterra Power Corp. (AXY-T) says its board has approved an first-ever annual cash dividend amounting to a half cent per common share, payable quarterly starting in fourth quarter.

"The record date and other details will be announced separately," the company said in a release.

It also announced a one-for-10 share consolidation. That will adjust the dividend to 5 cents per common share.

"This inaugural dividend reflects the recent completion and incremental cash flow of the Shannon and Jimmie Creek projects, but is sized modestly for now to accommodate the substantial growth we anticipate over the next four years," stated CEO John Carson. "We will target regular increases of the dividend as we bring new projects on line."

He said the share consolidation brings the company into line with many of its peer independent power producers " nd will provide better access to the company's shares for certain investors."


Supremex Inc. (SXP-T), which sells envelopes and packaging products, says it has acquired Bowers Envelope Company Inc. of Indiana. "This acquisition, while relatively small, aligns with our strategy to extend our reach in key markets and to expand our value added offering in packaging and specialty products," said Supremex CEO Stewart Emerson in a release. "With the addition of Bowers Envelope, Supremex is now well-positioned to serve approximately 60 per cent of the U.S. envelope market."

The transaction price wasn't disclosed.


Athabasca Oil Corp. (ATH-T) says it has received payment of $139-million from Phoenix Energy Holdings Ltd. (now Brion Energy Corp.) related to a promissory note from its prior sale of its 40-per-cent interest in the Dover oil sands project which closed in August, 2014.

Athabasca also said in a release that it has "significantly strengthened its balance sheet" through its light oil joint venture with Murphy Oil Company and the Thermal Oil Contingent Bitumen Royalty granted to Burgess Energy Holdings L.L.C. for total consideration of $615-million, including  $396-million in cash.

The company also said it reduced its outstanding corporate debt by approximately $250-million by repaying its $221-million (U.S.) term loan and unwinding its U.S. dollar foreign exchange hedge.


Summit Industrial Income REIT ( SMU.UN-T) is buying a 210,727-square-foot light industrial property in London, Ont. for $16.6-million.

"We are pleased to be expanding our presence in the strong London market, a gateway to the prosperous southwestern Ontario region," stated CEO Paul Dykeman in a release.  "With the completion of this acquisition, we will have fully invested the proceeds from our recent $34.2-million equity offering completed on June 17, 2016. With the funds from this offering, we will have acquired four properties with a strong weighted average lease term of 9.3 years for a total cost of $65.7-million, generating an average capitalization rate of 7.2 per cent."

Summit also announced today it has arranged financing for the recently completed acquisition of a 141,628-square-foot light industrial property in Calgary with a new $7.5-million seven-year mortgage with an interest rate of 3.15 per cent.


Callidus Capital Corp. (CBL-T) is increasing the purchase price under its substantial issuer bid to $16.50 per share, up from $16.10 per share. Under the revised offer, the maximum purchase price payable by Callidus is $58.9-million, the company said in a release.

Callidus said it will pay an additional 40 cents per common share to all shareholders who have previously tendered their shares, including those that have already been taken up and paid for by Callidus.


Sirius XM Canada Holdings Inc. (XSR-T) says it will hold its special meeting of shareholders regarding the proposed go-private recapitalization transaction at 10  a.m. ET on Tuesday, Aug. 30, which is today. The meeting will be broadcast live via a webcast.


NovaCopper Inc. (NCQ-T; NCQ-N) is changing its name to Trilogy Metals Inc. The new name and ticker symbol "TMQ" will kick in on Sept. 8.


Osisko Mining Inc. (OSK-T) says it has ceased to be an insider of Metals Creek Resources Corp.

It said Metals Creek closed a private placement of 13.7 million units on Aug. 19.  In  a release, Osisko said it didn't participate in the private placement, but the result was its holdings decreased to less than 10 per cent compared to 11.6 per cent before.


NeuLion, Inc. (NLN-T) announced a new partnership with Nokia to use its virtual reality camera and player.

NeuLion and Nokia will offer content owners and content rights holders an end-to-end jointly integrated platform, the company said in a release.

"What makes NeuLion stand out is our focus on the experience we create for our customers as they build their OTT and TV Everywhere services," stated Neulion CEO Roy Reichbach in a release.


Sabina Gold & Silver Corp. (SBB-T) says the Kitikemout Inuit Association and the Government of Nunavut have both requested that their Back River Gold Project go back to the Nunavut Impact Review Board for further review under a section of the Nunavut Land Claims Agreement.

The request is for part of the agreement around "ecosytemic and socio-economic issues," the company said in a release.