Canexus has an emerging business loading crude oil onto rail cars.Reuters
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Aritzia Inc. (ATZ-T) reported second quarter revenue of $157.9 million, up 30 per cent from $121.4 million in the second quarter last year.
The Vancouver-based retailer, which went public earlier this month, said the increase was driven by comparable sales growth of 16.9 per cent "rising from both the strong performance in stores and continued momentum in the company's ecommerce business, as well as, the revenue from eight new store openings and four expanded or repositioned stores since the second quarter of last year."
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 20.4 per cent to $19.8 million from $16.5 million in the second quarter last year.
"We are pleased to have delivered our eighth consecutive quarter of strong positive comparable sales growth, which demonstrates the strength of our exclusive multi-brand strategy in both our retail stores and ecommerce business," stated CEO Brian Hill.
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Infor Acquisition Corp. (IAC.A-T) says it agreement with Element Fleet Management Corp. (as successor to Element Financial Corp.), 2510204 Ontario Inc. and ECN Capital Corp. related to its plan of arrangement has been terminated by mutual agreement of all parties.
"We are pleased that the separation of Element Financial Corporation into Element Fleet Management Corp. and ECN Capital has been well received by the market. However, ECN Capital's common shares are not currently trading at a price that would make the arrangement compelling for the company's shareholders given the exchange ratio agreed to under the arrangement" stated IAC CEO Neil Selfe.
"Management of IAC will continue to review alternative transactions," the company said in a release.
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MTY Food Group Inc. (MTY-T) reported revenues of $52.9 million in the third quarter, up 51 per cent from $35 million a year earlier. It said the increase was driven by new stores from a recent acquisition.
Net income attributable to owners increased to $16.5 million or 82 cents per share versus $8.2 million or 43 cents per share a year earlier.
"A large part of the increase is attributable to a one-time gain of $8 million generated on the settlement of a derivative contract on foreign exchange rates, while one-time acquisition costs of approximately $1 million are included in operating expenses," the company said in a release.
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Northview Apartment Real Estate Investment Trust (NVU.UN-T) is raising $65-million in a bought-deal financing.
Northview said it plans to use the proceeds to repay debt and pursue acquisitions, among other items.
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Exfo Inc. (EXF-T, EXFO-Q) reported fourth quarter sales of $62.9 million (U.S.) compared to $56.6 million in the fourth quarter of 2015.
Net earnings were relatively flat at $2.3 million in the quarter, the company said in a release.
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Carmanah Technologies Corp. (CMH-T) released preliminary selected financial estimates for the third quarter ended Sept. 30, which showed revenues from continuing operations were down 9 per cent to $11.3 million (U.S.) compared to the same time in 2015.
Order backlog was approximately $4.3 million, down approximately $2.5 million from June 30, 2016.
"The majority of the order backlog is expected to be completed in the fourth quarter of 2016," the company said in a release.
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Canexus Corp. (CUS-T) says it will have a meeting on Jan. 31, requisitioned by Bermuda-based Stirling Global Value Fund Inc.
"As previously disclosed, at the meeting, shareholders will be asked to vote on a resolution to replace Canexus' incumbent directors with a slate of five new directors nominated by Stirling," the company said in a release.
"We are calling the general meeting as requisitioned by Stirling, notwithstanding our firm belief that this campaign represents a costly distraction for the corporation and its shareholders," stated CEO David Collyer. "We believe it is in our shareholders' best interests to first deal with the hostile takeover bid from Chemtrade Logistics Income Fund and then hold a meeting to vote on Stirling's resolution."
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Premium Brands Holdings Corporation (PBH-T) has acquired Belmont Meats Products Limited for $50 million, consisting of $49.2 million in cash and $800,000 in common shares of Premium Brands.
"We are not only very excited about Belmont's business and the potential for it to grow under the Premium Brands umbrella, but also the role it will play in creating value in several of our other businesses. In particular we expect to generate significant synergies between Belmont's business, our burger operations in western Canada and our Centennial Foodservice business' recently announced initiative to expand into the Ontario market," stated CEO Mr. George Paleologou in a release.
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Crius Energy Trust (KWH.UN-T) says its board has approved a 2-per-cent increase to distributions paid on units of the trust, representing an annualized increase of 1.49 cents per unit or a total annualized distribution of 75.78 cents per unit.
"Management and the Board are very pleased with the ongoing positive impacts of the Company's growth strategy in our deregulated energy and solar businesses, evident by the fourth 2% distribution increase for the year," stated CEO Michael Fallquist. "With strong prospects for ongoing growth and a very conservative payout ratio, the board is confident that it will be able to continue increasing distributions in 2017, and will re-evaluate further distribution increases beyond the end of next year."
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InterRent Real Estate Investment Trust (IIP.UN-T) says Jacie Levinson, trustee and chairman of the board, passed away on Oct. 9.
"Jacie played an integral role in re-shaping InterRent when the management was re-structured seven years ago," the company said in a release. "He believed in InterRent when no one else did. He knew that the secret to turning InterRent around was the people and he loved nothing more than to mentor and teach the next generation. Jacie also loved to know about each building, its challenges, and how we could make it better. His passion was contagious."
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Goodfellow Inc. (GDL-T) says it won't be able to file by Oct. 15 its interim financial report, interim management discussion and analysis and interim certificates for the quarter ended Aug. 31.
"Management has recently noticed certain discrepancies, relating mainly to the cost of inventory, preventing it from ensuring the integrity of its financial results within the required deadlines," the company said in a release. "These difficulties stem from the implementation at the beginning of the current fiscal year on December 1, 2015 of the corporation's new integrated financial information system."
The company said it's taking "all necessary measures to resolve the situation promptly."
It expects to file its third quarter results by the end of its fiscal year ending Nov. 30.
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Denison Mines Corp. (DML-T, DNN-N) is buying 80-per-cent ownership of the Hook-Carter property from ALX Uranium Corp. (AL-V) in exchange for the issuance of 7.5 million common shares of Denison.
ALX will retain a 20-per-cent interest in the property and Denison agrees to fund ALX's share of the first $12 million in expenditures.
"The acquisition of the Hook-Carter property is about building our project pipeline and generating our own success in the very exciting western portion of the Athabasca Basin," stated CEO David Cates in a release. "We believe the western Basin has the potential to emerge as a mining camp in the long-term, and could eventually represent an important part of the uranium mining industry in Canada. This property is a unique grassroots exploration opportunity, situated on a prolific trend, with the potential to deliver meaningful exploration results and enhance our portfolio of uranium assets."