Our roundup of Canadian small-caps making news and on the move today.
Candax Energy Inc. (CAX-T), a Toronto-based company focused on mature oil field development in Tunisia, said it has obtained from Geofinance NV, a major debtholder and shareholder of the Company, an extension of one month to June 1 on the waiver granted on Jan. 29. The agreement means Geofinance won't seek any remedy under the facility agreement in respect of the $3.5-million unpaid amount until June 1.
In addition, Candax said it has initiated discussions with third parties to implement strategic and financial alternatives and now needs more time to continue these discussions. "The support of our lender and majority shareholder is key during this period of discussions," said Candax chairman and CEO, Benoit Debray.
Extendicare Inc. (EXE-T) said it has completed the acquisition of the Revera Home Health business from Revera Inc. for $83-million in cash.
Kraken Sonar Inc. (PNG-X), a St. John's, Nfld.-based marine technology company, reported revenues of $2.4-million for the year ended Dec. 31, 2014, up from $576,049 a year earlier. Gross profit for the year was $1,215,442 an increase of $772,493 over the year ended December 31, 2013. Net income excluding non-recurring expenses was $372,168, compared to a loss of $136,926 in the previous year.
Atna Resources Ltd. (ATN-T) reported adjusted EBITDA of $500,000 (U.S.) for the first quarter ended March 31. Revenue "increased marginally" to $9.9-million compared to the year earlier. The company reported a net loss of $5.1-million, or two cents per share, which included a $2.5-million mark-to-market inventory write-down and a $400,000 loss on asset disposals. Atna operates the Briggs gold mine in Inyo County, Calif., and the Pinson Underground gold mine near Winnemucca, Nevada.