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Domtar president and CEO John Williams speaks to the media following the pulp and paper company's annual shareholders meeting in the Montreal, May 4, 2011.

SHAUN BEST/REUTERS

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

Domtar Corp. (UFS-N;UFS-T) reported net earnings of $36-million (U.S.) or 56 cents per share, for the first quarter of 2015, compared to net earnings of $39-million, or 60 cents per share, for the year-earlier period. Sales for the first quarter of 2015 were $1.3-billion.

"Results were impacted by anticipated price declines in pulp and paper. Nonetheless, our paper volumes were strong with good demand across most product groups; we operated at near capacity resulting in strong productivity which offset the impact of some weather related costs. During the quarter, we announced an increase to our share repurchase program and dividend which reflects our confidence in the execution of our growth strategy and continuing ability to generate cash flow," said John Williams, president and CEO.

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Progressive Waste Solutions Ltd. (BIN-T; BIN-N) reported consolidated revenues of $460.2-million (U.S.) for the first quarter ended March 31, down from $469.8-million a year ago, partly due to foreign exchange. Net income was $18.1-million compared to $25.9-million a year ago.

"The first-quarter contributions, adjusted for the delayed volumes due to weather and insurable claims, are in line with our expectations. We are reaffirming our 2015 outlook on all measures provided on Feb. 26, 2015," said Joseph Quarin, president and CEO of Progressive Waste Solutions. "In addition, we have identified further opportunities to reorganize and optimize our regional management structure, which we expect to result in a restructuring cost of $3.5-million to $4.5-million, largely in the second quarter of 2015, and an annualized cost reduction of $3-million to $3.5-million."

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Shares of CO2 Solutions Inc. (CST-X) jumped 112 per cent on Thursday to close at 18 cents one day after the company presented results of a pilot test of its enzyme-enabled carbon capture technology to the 14th annual Conference on Carbon Capture, Utilization & Sequestration in Pittsburgh, Pa.

The pilot test showed a "cost estimate of approximately $39 per tonne of CO(2) based on 90 per cent CO(2) capture from flue gases of a typical coal-fired power plant at full scale, including CO(2) compression to 2250 psi. This surpasses the U.S. Department of Energy target of $40/tonne by the year 2025 for new carbon capture processes," the company said in a statement.

"These results validate our work to date in proving our technology to have significant cost advantages over other solutions, enabling the efficient reduction and reuse of CO(2) emissions from power generation and other industries," said Dr. Louis Fradette, CO(2) Solutions' senior vice-president of process engineering and chief technology officer. "With these excellent results and our larger scale demonstration coming on line in the coming weeks we are well positioned for the commercialization of our technology later this year."

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Great Western Minerals Group Ltd. (GWG-X), a Saskatoon-based manufacturer and supplier of rare earth element-based metal alloys, said it has filed for protection under the Companies' Creditors Arrangement Act (CCAA) and has also entered into a support agreement with holders of about 65.3 per cent of its $90-million (U.S.) 8 per cent secured convertible bonds due 2017.

With the support of its bondholders, the company is looking to solicit interest in its business, property and assets. The agreement with the bondholders "presents an opportunity for a stable environment" while the company looks for buyers. The company did not make an interest payment of about $4.5-million (Canadian) due April 7 and bondholders have agreed to not enforce "certain rights or remedies they are otherwise entitled to enforce with respect to a default under the trust deed."

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Sierra Metals Inc. (SMT-T) reported that Sociedad Minera Corona S.A., in which it has an 81.8 per cent interest, reported net income of $4.7-million (U.S.) 13 cents per share for the first quarter ended March 31. Revenues for the quarter were $22.6-million and the cash cost per slier payable ounce was $7.40 (U.S.) at the Yauricocha Mine.

"Corona continues to report strong results again this quarter with a 2% increase in ore throughput while maintaining high levels of metal production and a strong balance sheet," said Mark Brennan, president and CEO of Sierra Metals. "Higher silver head grades and higher recoveries mitigated the decline in metals prices and have resulted in another quarter of positive operating cash flow. Corona continues on the path to meet its production guidance for 2015 by remaining a low cost producer while continuing to demonstrate the Yauricocha mine's full economic potential."

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Star Navigation Systems Group Ltd. (SNA-X), which owns the exclusive worldwide license to its patented In-flight Safety Monitoring System, STAR-ISMS, said it has closed the first tranche of a non-brokered private placement, having issued 10-million units at a price of 5 cents each for gross proceeds of $500,000.

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RDM Corp. (RC-T), a Waterloo, Ont.-based provider of specialized software and hardware products for electronic payment processing, reported revenue of $5.8-million (U.S.) for the second quarter ended March 31, up 11 per cent from a year ago. Net income increased 21 per cent to $789,000 from $652,000.

"Growth in both our recurring Payment Processing and Digital Imaging revenue translated into increased profitability in the quarter. In addition, we continue to see evidence of strong market acceptance this quarter with two new financial institutions selecting RDM to replace existing RDC providers," said Randy Fowlie, president and CEO of RDM Corp. "One is a top 30 U.S. bank and the other is a large international bank. We look forward to partnering with these two new customers going forward."

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COM DEV International Ltd. (CDV-T), a Cambridge, Ont.-based manufacturer of space hardware subsystems, said it has received a funding release in excess of $10-million to deliver equipment for the second of several commercial communications satellites awarded in a single contract in 2013. The company said its work on the first satellite is largely complete, with all equipment now delivered or in the final testing stages.

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Vancouver-based Timmins Gold Corp. (TMM-T; TGD-A) said the acquisition of Newstrike Capital Inc. (NES-X) by the company, pursuant to a plan of arrangement, received overwhelming approval by the shareholders of each company at their respective shareholder meetings held Thursday. Under the terms of the arrangement, each Newstrike shareholder will receive 0.90 of a Timmins share and one one-hundredth of one cent ($0.0001) per Newstrike share. The arrangement is expected to be completed in May 2015.

"We are very grateful for the support our shareholders have shown in approving the Newstrike transaction and will continue to focus on delivering value for all of our shareholders," said Bruce Bragagnolo, CEO of Timmins Gold Corp.

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Kingsway Financial Services Inc. (KFS-T;KFS-N) reported results from the first quarter, which showed an increase in revenue over the prior year of 8 per cent to $43.7-million, while earnings attributable to shareholders increased to 11 cents per share, compared to a loss of 10 cents one year earlier. "Last year put us on a path to start realizing the benefits from actions taken by us during the past several years," said Larry Swets, Jr., the company's CEO.

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ProntoForms Corp. (PFM-X) released its first quarter financial statements, which included a 37-per-cent increase in revenues over the prior year to $1.9-million. The company realized a net loss on the quarter of about $636,000, compared to a net loss one year earlier of about $177,000. "The focus of our business is building a recurring revenue base," said Alvaro Pombo, the company's CEO. "Fiscal year 2015 has started in a positive way with a recurring revenue increase of 17 per cent and total revenue increase of 15 per cent over our 2014 fourth quarter."

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Atico Mining Corp. (ATY-X) disclosed its first-quarter operating results, which showed production increases over the first quarter of 2014 of copper and gold concentrates of 43 per cent and 99 per cent, respectively. "First quarter 2015 was a significant improvement over the same period last year but concluded well below our expectations," said Fernando Ganoza, Atico's CEO. "Reduced mill availability and throughput during January and February affected production results for the quarter. Despite the challenging start to the year, we are experiencing a strong start to the second quarter and remain optimistic that we will have the opportunity to compensate over the next three quarters and achieve our 2015 targets."

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VersaPay Corp. (VPY-X) said it has increased the size of its bought-deal financing, bringing the total gross proceeds to $4.8-million.

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