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 its 13th consecutive quarter of positive comparable sales growth in its most recent quarter.
The Vancouver-based women's fashion brand says its comparable sales grew 6.3 per cent for its third quarter ended Nov. 26, 2017, due to continued momentum in its e-commerce business. In the third quarter of 2016, it reported 15.1 per cent growth.
Its net revenue rose 9.6 per cent to $204.4-million, compared to $186.5 million in the same quarter last year. The company mostly attributed the increase to seven store openings, as well as five expanded or repositioned stores since the third quarter.
The company says its adjusted net income rose 11.4 per cent to $30.6 million, or 26 cents per share, from $27.5-million, or 23 cents per share, in the third quarter of 2016.
While its net revenue fell below analyst expectations, its earnings per share outperformed estimates, according to data from Thomson Reuters.
-The Canadian Press
Morguard Corp. (MRC-T) says it has acquired another 2 per cent of the outstanding Units of Morguard REIT and now owns 55.9 per cent of the outstanding units. "The units were acquired for investment purposes," the company said.
Pro Real Estate Investment Trust (PRV.UN-T) says it's raising $25-million in a bought-deal offering. It has an agreement to sell to a syndicate of underwriters 10.9 million units at $2.30 each. The REIT said it intends to use the net proceeds "to partially fund future acquisitions, to repay certain indebtedness and for general business and working capital purposes."
Jeff Swinoga has been appointed CEO, succeeding Chris Osterman, effective Jan. 15. Mr. Swinoga was most recently chief financial officer of Torex Gold Resources Inc. Mr. Osterman will become chief operating officer. Patrick Donnelly will continue as president.
The company is also changing its name to First Mining Gold Corp., "which better reflects our new corporate identity and strategy."
Invesque Inc. (HLP.UN-T), formerly known as Mainstreet Health Investments Inc., has acquired a newly constructed post-acute transitional care facility in Lincoln, Nebraska, from Mainstreet Property Group, LLC for $21.6-million.
The company said it funded the transaction through a combination of debt, the retirement of mezzanine loans on the project, and cash on hand.
Quarterhill Inc. (QTRH-T; QTRH-Q) says a subsidiary has entered into a settlement and patent license agreement with Kyocera International Inc., a Japanese multinational ceramics and electronics manufacturer. The license covers intelligent personal assistant technology.
CannaRoyalty Corp. (CRZ-CN) and Aequus Pharmaceuticals Inc. (AQS-X) announced a collaboration to advance a suite of cannabis-based therapies targeting neurological disorders into clinical trials in Canada.
"CannaRoyalty and Aequus have formed this collaboration to clinically advance a number of cannabis-based therapies in partnership with Canadian clinicians to create truly differentiated products supported by clinical data focused on the medical community," the companies stated.
CannaRoyalty said it intends to contribute its 10-per-cent equity stake in Bodhi Research & Development Inc. into the JV in exchange for an initial ownership position in the JV, subject to conditions and approvals.
Choice Properties Real Estate Investment Trust (CHP.UN-T) says it has agreed to issue $650-million of senior unsecured debentures in two series.
The net proceeds will be used to repay debt, the company said.
It said the growth is primarily due to the "substantial growth" in the number of active subscribers. The company said active subscribers reached 45,000 as of Nov. 30, up from 8,000 for the same time last year.
Its net loss was $2.5-million versus a loss of $3.1-million. Its adjusted net loss per share was 5 cents versus 2 cents a year earlier. Analysts were expecting revenue of $11.7-million and an earnings loss of 5 cents per share.
Cannabis Wheaton says it will help Level Ten obtain a cultivation license for its proposed greenhouse cultivation facility near Brantford, Ont. and fund the construction costs for the development of Phase I, which is estimated to be $35-million, under certain terms.
"Abattis has always seen Green Tree as a perfect fit to merge with existing products within our marketing wing in Vergence," stated Rob Abenante, CEO of Abattis. "Acquiring GTT will complement our retail offerings through Vergence and provide a solid entry point into the vaporizers market."
Endo International plc (ENDP-Q) says its Endo Pharmaceuticals Inc. subsidiary has received a grand jury subpoena from the U.S. Attorney's Office for the Southern District of Florida seeking documents and information relating to products containing oxymorphone.
"The subpoena broadly requests documents including, among others, those produced in past or pending lawsuits and those relating to product safety and efficacy, overdoses, diversion, thefts, overprescribing, abuse/misuse, dependency or tolerance, withdrawal, addictiveness, adverse events and manipulation," the company stated. "The subpoena also requests distribution and other third-party agreements, together with sales and marketing, training, financial, compensation and corporate information, as well as documents relating to interactions with various government agencies, including the U.S. Food and Drug Administration, Drug Enforcement Administration, Veterans Administration, Federal Trade Commission, Department of Health & Human Services, Medicare and Medicaid."
The company said it will be "responsive to the subpoena and co-operate with any related government investigation."