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A Ballard Power Mark 9 SSL fuel cell that powers forklift trucks.

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.

Enercare Inc. (ECI-T) announced an offering of $500-million senior unsecured notes.

The proceeds will be used by Enercare Solutions to redeem senior unsecured notes due Nov. 30, to repay existing credit facilities and for general corporate purposes.

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"I am very pleased we have been able to refinance our debt at such favourable long-term fixed rates and align our debt maturities more closely to the long life of our assets," said CEO John Macdonald in a release.


Ballard Power Systems (BLDP-Q; BLDP-T) has signed an agreement with strategic partner Zhongshan Broad-Ocean Motor Co., Ltd. for the assembly and sale of fuel cell engines in China.

Under the deal, Broad-Ocean will manufacture fuel cell modules in three strategic regions in China, including Shanghai.

Ballard said the deal is valued at $25-million in revenue over the initial five-year term.

"Converging macro trends in China, including large-scale urbanization, continued build-out of mass urban transportation, degrading air quality and a mandate to address climate change, together present an historic opportunity for zero-emission fuel cell solutions in the world's largest mobility market," said CEO Randy MacEwen in a release.


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Chorus Aviation Inc. (CHR-T) reported fourth-quarter revenue of $315.1-million, down from $357.4-million a year earlier.

Net income was $12.7-million, up 1.2 per cent from a year earlier.

Earnings per share was 10 cents, in line with expectations.

Analysts were expecting revenue of $324-million.


Capstone Mining Corp. (CS-T) reported third-quarter revenue of $163-million (U.S.) compared to $92-milion a year earlier.

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Its net loss was $182.4-million or 33 cents per share, versus a loss of $19.5-million or 5 cents a year earlier.

its adjusted net income was $30.7-million or 8 cents per share compared to a loss of $8-million or 2 cents a year earlier.

Analysts were expecting revenue of $133.7-million.


Goeasy Ltd. (GSY-T) reported fourth-quarter revenue of $91.3- million, an increase of 10 per cent from $82.9-million in the fourth quarter of 2015. Total same-store sales growth in the quarter was 12.6 per cent.

Net income for the quarter was $8.3-million, up nearly 11 per cent from $7.5-million in the fourth quarter of 2015.

Earnings per share for the quarter was 60 cents versus 54 cents a year earlier.

Analysts were expecting earnings of 66 cents per share and revenue of $91.4-million.

"The fourth quarter rounded out a record year for our company which resulted in financial success and the accomplishment of many of our strategic goals," said CEO David Ingram.


Primero Mining Corp. (P-T; PPP-N) says unionized employees at its San Dimas mine in Mexico have initiated a strike action, "resulting in the complete stoppage of mining and milling activities at the site."

Primero said it received notification from the union of their intention to discontinue work when the parties failed to negotiate a collective bargaining agreement (CBA).

"Primero is not seeking a reduction in individual worker compensation, although the total workforce at San Dimas including contractors will be reduced, a process that has already commenced outside of the CBA negotiations," it said in a release.

Primero said needs to reduce the "scale and complexity" of the operation in order to increase productivity and return the mine to positive cash flow.

"Depending on its duration, the strike could have a negative impact on the company's 2017 production," it said and has postponed its formal 2017 production and cost guidance until there's a resolution.


Gear Energy Ltd. (GXE-T) reported a net loss of $12.2-million in the fourth quarter (GXE-T) compared to a loss of $26.5-million or 35 cents per share a year earlier.

Cash flow from operations was $9.4 million or 5 cents per share, up from $4.7-million or 6 cents a year earlier.


Agellan Commercial Real Estate Investment Trust (ACR.UN-T) is raising $50-million in a bought-deal financing.

It has an agreement to sell to a syndicate of underwriters about 4.4 million units at $11.45 each.

The REIT intends to use the net proceeds to repay approximately $9-million (U.S.) of outstanding mortgage debt as well as "certain indebtedness owing under the REIT's existing credit facilities, and the remainder to fund potential future acquisitions and for general business purposes."


Supremex Inc. (SXP-T) said fourth-quarter revenue rose 5 per cent year-over-year to $43.4-million.

Net earnings increased by 22 per cent to $4.6-million or 16 cents per share compared with $3.8-million or 13 cents per share a year earlier.

Analysts were expecting earnings of 16 cents per share and revenue of $43.6-million.


Canam Group Inc. (CAM-T) reported fourth-quarter revenues of $486.5-miillion, compared to $493.8-million for the same quarter in 2015.

Its net loss attributable to shareholders totalled $2-million or 4 cents per share compared to a net income of $17.8-million or 39 cents per share a year earlier.

Analysts were expecting revenue of $516.4-million.


Boston Pizza Royalties Income Fund (BPF.UN-T) reported fourth-quarter revenue of $11.2-million, compared to $11.4-million a year earlier.

The expectation from one analyst covering the stock was revenue of $11.6-million.

Net income was $8.7-million or 43 cents per unit, compared to $8.7-million or 42 cents per share.


Denison Mines Corp. (DML-T; DNN-N) is raising $20-million in a bought-deal private placement of common and flow-through shares.

It has an agreement with Paradigm Capital Inc., on behalf of a syndicate of underwriters, to purchase the shares.

The company said it plans to use the gross proceeds towards its Canadian uranium mining exploration projects in Saskatchewan.


Canacol Energy Ltd. (CNE-T) has entered into a credit agreement for $265-million (U.S.) senior secured term loan with a syndicate of banks.

The new credit agreement will replace Canacol's existing two facilities.

It said the new agreement will give it increased financial flexibility.


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About the Author

Brenda Bouw is a freelance writer and editor based in Vancouver. She has more than 20 years of experience as a business reporter, including at The Globe and Mail, The Canadian Press, the Financial Post and was executive producer at BNN (formerly ROBTv). Brenda was also part of the Globe and Mail reporting team that won the 2010 National Newspaper Award for business journalism. More


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