Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Home Capital Group Inc. (HCG-T) says its high-interest savings account (HISA) and Oaken savings deposit levels have stabilized over the past few days.
It said total available liquidity and credit capacity stood at approximately $1.51-billion as of Friday, including the undrawn amount of $600-million under its $2-billion credit facility.
HISA deposit balances stood at approximately $125-million.
GIC deposits stood at approximately $12.44-billion and Oaken savings accounts stood at approximately $151-million.
K-Bro Linen Inc. (KBL-T) reported first-quarter revenue of $39-million up from $38.8-million a year earlier.
The company said increases in revenue were offset by costs related to the transition to its new Toronto facility as well as "significant overtime costs in relation to the temporary operations of both plants, significant training costs related to new staff, support costs to facilitate staff in the move to the new plant, costs incurred to vacate our old facility and costs related to mitigating the effect related to the lock-out of the unionized delivery drivers in Toronto during the quarter."
It also incurred "significant overtime and one-time costs to support new business, strong volumes and temporary capacity constraints in certain of our markets."
It estimates those costs to be $2.3-million for the quarter.
Net earnings after tax were $1.3-million or 16 cents per share down from $2.5-million or 32 cents a year earlier.
Analysts were expecting revenue of $40-million and earnings of 27 cents.
Aphria Inc. (APH-T) says it has received a license amendment from Health Canada that provides it with another 57,000 square feet of production space, as part of its expansion plan.
The company said that will more than triple its production capacity of medical cannabis from 2,600 kilograms annually to 8,000 kilograms annually.
"The license amendment marks the completion of the second part of Aphria's four-part expansion plan, set to be completed by July, 2018," said CEO Vic Neufeld. "This will allow us to continue to produce high-quality cannabis at one of the lowest costs in the industry. The expansion will propel Aphria's greenhouse footprint to become the largest in the industry and deliver on our long-term strategic plan."
Bird Construction Inc. (BDT-T) reported first-quarter revenue of $309.8-million versus $338.3-million a year ago.
It generated a net loss of $1.1-million or 3 cents per share versus net income of $9.3-million or 22 cents a year earlier.
"The decrease in the amount of first quarter 2017 earnings is reflective of the low volume of industrial project backlog carried into 2017 as several large industrial projects were substantially completed in the fourth quarter of 2016," it said. "In the first quarter of 2016, the company benefited from a higher proportion of higher-margin industrial work than in 2017, which has shifted to predominantly commercial and institutional projects."
Analysts were expecting revenue of $314.6-million and earnings of 5 cents.
Integra Gold Corp. (ICG-X) says it has a deal to be taken over by Eldorado Gold Corp. (ELD-T; EGO-N) in a deal valued at about $590-million.
The deal values Integra at $1.21 per share, a 52-per-cent premium to its closing price on Friday.
Shareholders have the choice between receiving: (i) 0.24250 of an Eldorado share, (ii) $1.21250 in cash, or (iii) 0.18188 of an Eldorado share and $0.30313 in cash.
Eldorado will issue 77 million shares and pay an aggregate maximum of $129-million in cash, equal to approximately 25 per cent of the total consideration.
"Accordingly, to the extent the elections would otherwise result in the issue of additional shares beyond this maximum, the amount of shares will be prorated and substituted with cash."
Integra's directors have unanimously recommended that Integra's shareholders vote in favour of the deal.
It requires approved from two-thirds of Integra shareholders. Eldorado holds about 12.8 per cent of Integra shares.
Premium Brands Holdings Corp. (PBH-T) reported first-quarter revenue of $478.2-million, up 25.5 per cent from the first quarter of 2016.
Earnings came in at $15.3-million or 52 cents per share compared to $9.2-million or 36 cents a year earlier.
Analysts were expecting earnings of 47 cents and revenue of $492.6-million.
ECN Capital Corp. (ECN-T) says it is raising $100-million in a preferred share offering.
The company said it has entered into an agreement with a syndicate of underwriters to buy four million preferred shares for $25 each.
"The net proceeds are expected to be used to originate and finance, directly and indirectly, finance assets, to fund future acquisitions and for general corporate purposes," the company said.
The company also said it promoted Jim Nikopoulos to the role of president. He was most recently chief operating officer at the company.
TMAC Resources Inc. (TMR-T) reported net loss of $2.4-million or 3 cents per share in the first quarter. That compared to a loss of $200,000 or nil per share a year earlier.
Analysts were expecting a loss of a penny per share.
Largo Resources Ltd. (LGO-T) reported revenue of $29.4-million in the first quarter compared to $10-million a year earlier.
Its net loss was $9.7-million or 2 cents per share versus a loss of $9.6-million or 3 cents a year earlier.
Aurora Cannabis Inc. (ACB-X) reported third-quarter revenue of $5.2-million up from $219,000 a year earlier.
Gross profit was $5.8-million versus $4.2-million a year earlier. Adjusted profit was $3.1-million versus a loss of $617,000 a year earlier.
Net income was $100,000 as compared to net income of $2.5-million a year earlier.
"The change in net income is attributable primarily to a $5-million increase in revenues, and a $3.3-million increase in the unrealized gain on debenture and marketable securities, offset by a $2.2-million negative impact of the change in unrealized gain on the changes in fair value of biological assets, a $2.5-million increase in non-cash share-based payments, a $1-million increase in financing costs, as well as a $3.5-million increase in sales and marketing and general and administrative costs, related to the increase in business and corporate activities," the company said.
Cargojet Inc. (CJT-T) reported first-quarter revenues of $87.1-million, an increase of $10.2-million or 13 per cent versus the previous year.
Analysts were expecting revenue of $82.2-million.
Adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] was $22.3-million, an increase of $4.9-million or 28 per cent versus the previous year.
"Cargojet continues to focus on growing our revenues and maximizing cash flows," said CEO Ajay Virmani. "We are very pleased with the results this quarter, as we continue to maximize the utilization of our aircraft fleet and to prudently manage our operating costs."
Secure Energy Services Inc. (SES-T) says it has an agreement to buy Ceiba Energy Services Inc. (CEB-X), a service provider of stand-alone water disposal and oil treating facilities in the Canadian energy sector, in a deal valued at about $37-million including $11-million in debt.
Ceiba shareholders will receive 20.5 cents for each share, to be paid in cash or by the issuance of 0.02115 of a Secure common share. That's a 64-per-cent premium over the closing price on Friday, the company said in a release.
Secure also said it will acquire about $1-million of net working capital excluding debt and approximately $30-million of fixed assets consisting of tanks, pumps, pipelines, treaters, disposal wells and various other equipment.
"Adding Ceiba's stand-alone water disposal and oil treating facilities to Secure's expansive network of facilities provides our customers with more options for their water, waste and oil handling needs," said Secure CEO Rene Amirault.
Buhler Industries (BUI-T) said revenue for the second quarter was $79.5-million, down $1.5-million from the prior year second quarter.
Its net loss was $300,000 or a penny per share versus a profit of $1.5-million or 6 cents a year ago
Savanna Energy Services Corp. (SVY-T), which is being taken over by Total Energy Services Inc. (TOT-T) said it generated revenue of $117.3-million in the first quarter, compared to $93.7-million a year ago.
Its net loss was $19.8-million or 17 cents per share compared to a loss of $10.1-million or 11 cents a year ago.
"Improving industry sentiment in late 2016 and into 2017, resulted in increased activity levels throughout Savanna's business lines in Canada and drilling activity in the U.S." it said.
The company provided an update on its debt.
"Savanna has engaged with Total who currently owns approximately 86 per cent of the outstanding common shares of Savanna, and expects that any refinancing required with respect to its syndicated credit facility, second lien senior secured term loan, mortgage, and/or senior unsecured notes will be available to Savanna on a timely basis," it said in a release.
Dundee Corp (DC.A-T) says its Dundee Resources subsidiary has acquired one million common shares of Diagnos Inc. It said the shares were bought by exercising warrants at 6 cents per share.
Dundee now owns a 9.28-per-cent interest in Diagnos, up from 8.72 per cent.
Pretium Resources Inc. (PVG-T; PVG-N) reported a net loss of $4.3-million or 2 cents per share in the first quarter, compared to a loss of $10.9-million or 7 cents a year earlier.
Analysts were expecting a loss of 4 cents.
The company also said initial ore has been introduced to the mill at its Brucejack mine in northern B.C.
Mag Silver Corp. (MAG-T; MAG-N) reported a first-quarter net loss of $312,000 or just under a half a cent, versus a loss of $1.3-million or 2 cents a year ago.
It said the latest quarter included deferred tax recoveries from a strengthening Mexican Peso relative to the U.S. dollar.
Analysts were expecting a loss of 2 cents.