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Shares of Vancouver-based Avigilon, makers of high-definition surveillance cameras, have taken a huge plunge.Rafal Gerszak/The Globe and Mail

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

Avigilon Corp. (AVO-T), which makes video surveillance equipment, reported first-quarter revenue of $80.3-million (U.S.), an increase of 15 per cent over revenue of $69.9-million a year ago.

Its net loss was $1-million or 2 cents per share compared with net income of $1.4-million or 3 cents a year ago.

Adjusted earnings were $3.2-million or 7 cents compared with $3.8-million and 9 cents a year earlier.

Analysts were expecting earnings of 7 cents and revenue of $82-million.

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Liquor Stores N.A. Ltd. (LIQ-T) issued a statement on Tuesday cautioning shareholders "not to trust Toronto activist PointNorth Capital, whose founders have a track record of value destruction."

On Monday, activist fund PointNorth, founded by entrepreneur John Bitove, launched a proxy battle including a move to put six directors on the company's eight-person board at an annual meeting scheduled for June 20.

"Two of PointNorth's candidates are tied to PointNorth with Golden Leashes -- short-term incentive compensation provided directly by PointNorth," Liquor Stores said in a statement. "This compensation creates a troubling conflict of interest and may incentivize these PointNorth nominees to make short-term decisions to benefit themselves and PointNorth contrary to the best long-term interests of all shareholders."

Liquor Stores said PointNorth is making "irresponsible promises about its ability to create value for shareholders. Those promises are not backed up with facts or a proper understanding of Liquor Stores' business. Moreover, those promises run contrary to the dismal track record of PointNorth's founders in the retail sector, the sector in which Liquor Stores operates."

The company also lashed out at Mr. Bitove, saying he "has twice founded companies that, under his management, failed and became insolvent."

"Rather than make a compelling case for change at Liquor Stores, PointNorth has demonstrated that it has a superficial understanding of our business and a short-term agenda," said Jim Dinning, chairman of Liquor Stores. "Shareholders' interests are better served by an experienced board with a long-term, informed view of the business, rather than by the wishful thinking of a short-term activist."

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PRO Real Estate Investment Trust (PRV.UN-T) says it's planning to buy four commercial properties across Canada for $40.4-million.

It said the acquisitions will be partially financed by proceeds from the sale of two industrial buildings in Etobicoke, Ont. $22.3-million.

"We are very pleased with these transactions, which together result in the addition of $20-million of newer high-quality assets to our portfolio on a net basis," said CEO James Beckerleg in a release.

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Alterra Power Corp. (AXY-T) says its HS Orka hf subsidiary is looking to potentially sell its 30-per-cent stake in the Blue Lagoon tourist resort in Iceland, "following several unsolicited expressions of interest."

"The Blue Lagoon has grown substantially over the last several years, attracting significant investor attention from Iceland and elsewhere," said Ross Beaty, Alterra's executive chairman in a release. "Since the asset does not comprise a core part of our renewable power business, we think it's time to look at our options."

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Neptune Technologies & Bioressources (NEPT-Q; NEPT-T) says it and Groupe DJB and the Université de Sherbrooke have come together to create the Sherbrooke-based Green Valley Consortium, "a strategic partnership that combines the strengths and expertise of three industry stakeholders to carry out medical cannabis production and research and development activities: an industry first."

"At Neptune, our mission is to leverage our scientific and innovation expertise to provide our customers globally with the best-available nutritional products and wellness solution," said Neptune Technologies CEO Jim Hamilton in a release. "This new segment fits well with our mission."

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The Hydropothecary Corp. (THCX-X) says it has resumed selling cannabis products from certain lots after a voluntary stop-sale on its products.

"Lot retesting was carried out to ensure there was no presence of myclobutanil, a pesticide approved for use in agriculture (e.g. apples trees, almonds, strawberries, vegetables, soybeans and grape vines), but not for use on cannabis," the company said in a release on Tuesday.

"Results of the lots now released for sale show no sign of contamination."

The company said it will continue to test its products.

"Today's announcement that we have lifted the voluntary stop-sale is a direct result of our quality assurance efforts. We will continue to strive for the highest possible standards for all of our products and to put patients first," said CEO Sebastien St-Louis.

The company also said it's conducting additional screening on all lots produced since its inception.

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Prometic Life Sciences Inc. (PL-T) reported a net loss of $29.1-million for the quarter ended March 31, compared to a net loss of $18-million a year earlier.

"The increase in net loss as compared to the first quarter of 2016 is mainly attributable to higher R&D [research and development] and administration, selling and marketing expenses," the company said.

Total revenues were $4.9-million compared to $5.2-million a year earlier.

Analysts were expecting revenue of $4.8-million.

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Redknee Solutions Inc. (RKN-T) announced a proposed transaction on Tuesday that it says will help to accelerate its plan to boost growth and simplify operations.

It includes a rights offering of no less than $54-million (U.S.) backstopped by Wave Systems Corp., an affiliate of shareholder ESW Capital LLC, as well as service agreements with ESW affiliates.

"ESW's direct and indirect ownership of the subordinate voting shares of the company will increase from 13 per cent to 56 per cent if Wave subscribes for all of the rights offered under the rights offering that were not otherwise subscribed for and taken up pursuant to the proposed standby purchase agreement," the company said.

The rights offering needs to be approved by a majority of shareholders, excluding ESW and its associates.

"After a rigorous review of potential financing options, the independent directors, board and management have agreed that this transaction is the best course of action for shareholders and will allow them to participate in the long-term upside of the company," the company stated. "The board firmly believes that this transaction will create significant value for shareholders and will enable Redknee to effectively execute on its strategic plan."

CEO Danielle Royston called it "a crucial milestone" for the company.

"The capital we raise from this offering will enable us to invest in key areas of the business such as: delivering success to our customers, reskilling critical teams, hiring top talent, and removing inefficiencies," she said. "We look forward to rebuilding Redknee."

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Lundin Gold Inc. (LUG-T) reported a net loss of $6.4-million (U.S.) or 5 cents per share in the first quarter. That compared to $14.7-million or 15 cents a year ago.

Analysts were expecting a loss of 8 cents.

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Cardiome Pharma Corp. (CRME-Q; COM-T) recorded a net loss of $6.3-million (U.S.) or 20 cents per share for the first quarter, compared to a net loss of $1.2-million or 6 cents a year earlier.

"The increase in net loss was primarily due to a decrease in revenue and an increase in selling, general and administration expense," the company said.

Revenue was $5.2-million compared to revenue of $7.1-million for the three months ended March 31, 2016.

"The decrease was due to the timing of distributor sales," it said.

Analysts were expecting a loss of 14 cents and revenue of $7-million.

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Trevali Mining Corp. (TV-T) reported net income of $2.7-million (U.S.) or a penny per share in the first quarter, which was in line with analysts' expectations.

It compared to net income of $600,000 or nil per share a year earlier.

Revenue was $59.5-million versus $19.6-million a year earlier.

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Fortuna Silver Mines Inc. (FSM-N; FVI-T) reported sales of $57.9-million (U.S.) in the fourth quarter compared to $37-million in the fourth quarter of 2015.

Net income of $6.5-million or 4 cents per share compared to net loss of $17.3-million or 13 cents a year earlier.

Analysts were expecting earnings of 6 cents and revenue of $64-million.

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RMP Energy Inc. (RMP-T) reported a net loss of $2.8-million or 2 cents per share in the first quarter compared to a loss of $8.3-million or 6 cents a year earlier.

Revenue was $9.5-million versus $21.6-million a year earlier.

Analysts were expecting a loss of a penny per share and revenue of $9.6-million.

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OneREIT (ONR.UN-T) reported rental revenue and other income of $30.6-million in the first quarter versus $30.4-million a year earlier.

Net income was $9.3-million versus $2.8-million a year ago.

The REIT said its process to explore strategic alternatives "is continuing."

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