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Orbite Aluminae’s plant in Cap-Chat, Que., seen here under construction.

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

Montreal-based Orbite Aluminae Inc. (ORT-T) said its tax consultants have estimated that the company is eligible to receive refundable investment tax credits (ITCs) of $7.5-million for fiscal 2015 for its investments in the Gaspe region incurred during 2015, 2016 and 2017.

The company said it intends "to leverage these refundable tax credits towards the finalization of its financing plan for its High Purity Alumina Facility, presently under construction in Cap-Chat, Que."

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Vancouver-based Lara Exploration Ltd. (LRA-X) said its partner Codelco do Brasil Mineracao Ltda. has filed a lawsuit with the Federal Courts in Brasilia, against the Brazilian Department of Mines and Vale S.A. to safeguard its rights under the Liberdade exploration license issued by the  Brazilian Department of Mines.

The Liberdade exploration license was originally published on Oct. 19, 2010 and valid for three years. It was transferred to Codelco on March 21, 2011, under the terms of the option agreement with the company, Codelco then having the right to renew the license for up to a further three years. Codelco completed several exploration and drill programs within the license period and then requested a three-year renewal on July 12, 2013. The DNPM has delayed analysis of the renewal, as Vale has claimed to have a license dating back to 1986 that is still valid. The Codelco lawsuit is to nullify the old Vale licence and safeguard the current mineral rights.

Codelco has invested over $3.3-million (U.S.) in exploration and development of the property to earn an initial 51-per-cent interest from Lara and may elect to earn a further 24-per-cent interest by sole-funding such additional exploration works.

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Toronto-based AcuityAds Holdings Inc. (AT-X), an online and mobile advertising company, reported revenue of $3-million for the first quarter ended March 31, up 10 per cent from $2.8-million in the year-earlier quarter.     Adjusted EBITDA was a loss of $960,695 in the first quarter, compared to a loss of $392,348 a year ago. The net loss for the first quarter was $1.4-million compared to a year-earlier net loss of $732,244.

"We are delighted to have continued our revenue growth in [the first of 2015], during a quarter that is typically the slowest in the advertising industry," said Tal Hayek, CEO of AcuityAds. "Furthermore, as a result of investments made in earlier quarters, we saw our U.S. revenues grow by 54 per cent and our SaaS-based self service revenues improve by 157 per cent year over year."

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"The company is seeing significant signs for a strong second quarter," Mr. Hayek said. "With this anticipated strong revenue growth in Q2 2015 and the rigorous cost cutting completed in early Q1 2015, we expect to return to EBITDA positive in the next few quarters."

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Calgary-based Toro Oil & Gas Ltd. (TOO-X) reported average production of 561 barrels of oil equivalent per day in the first quarter, which is up from 234 boe/d in the same quarter a year ago. The company said it generated $400,000 in operating cash flow, excluding cash flow from assets held for sale and prior to corporate overhead expenditures. Production revenue was $1.7-million, up from $1.5-million a year ago. The comprehensive loss was $4.4-million or 8 cents per share, up from an income of $40,000 or 1 cent per share, in the year-ago period.

"Toro anticipates commencing an active drilling program on its Viking lands resulting in growing production and cash flow, lower costs ($/boe) and positive cash netbacks."

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Bellatrix Exploration Ltd.  (BXE-T;BXE-N) said it has completed construction and has begun commissioning of Phase 1 of the Bellatrix O'Chiese Nees-Ohpawganu'ck deep cut gas plant in the Alder Flats area of Alberta. Phase 1 of the plant was constructed with design capacity of 110 mmcf/d, and was completed ahead of schedule and within about 3 per cent of cost estimates, the company said. Initial plant start up started on May 22, with subsequent first delivery of natural gas volumes to sales. "Bellatrix anticipates increasing volume throughput at the plant and completion of the commissioning process through the month of June," the company said.

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"Bellatrix's firm service takeaway capacity on the main gas transmission system will grow from approximately 220 mmcf/d in the first quarter of 2015 to 330 mmcf/d upon final start-up of Phase 1 of the plant. This incremental firm takeaway capacity provides Bellatrix with unfettered processing capability to grow company volumes to approximately 60,000 boe/d without material capital spending on infrastructure over the near term," the company said.

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Ottawa-based Wi-LAN Inc. (WIN-T; WILN-Q) said it and GammaTech Computer Corp., a maker of ruggedized notebook and tablet computers, have signed a multi-year patent license renewal agreement. The running royalty license covers GammaTech products sold worldwide that use certain wireless technologies. The consideration to be paid by GammaTech to WiLAN and all other terms of the renewal agreement are confidential. WiLAN first signed a license with GammaTech in January, 2009.

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Vancouver-based MGX Minerals Inc. ( XMG-CN) said it has entered into a partnering agreement with Eaton Industries (Canada) Corp., part of Eaton Corp.  (ETN-N) and Highbury Energy Inc. to develop MGX's flagship Driftwood Creek magnesium property in  the East Kootenay region of B.C.

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Vancouver-based Alianza Minerals Ltd. (ANZ-X) said it has sold its Pucarana gold property in Peru to Compania de Minas Buenaventura S.A.A.  (BVN-N) in return for a 3 per cent net smelter royalty (NSR). The Pucarana property is owned by Pucarana S.A.C. which is held 36 per cent by Alianza, 60 per cent by Alamos Gold Inc. (AGI-T; AGI-N) and 4 per cent by Gallant Minerals Ltd. The three owners will divide the NSR.

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Vancouver-based Camino Minerals Corp. (COR-X) said it plans to raise up to $1-million to fund a diamond drill program at its Red Beds high grade copper-silver project, Department of Cuzco, Peru by way of a private placement. The non-brokered private placement will consist of up to 5-million units at 20 cents per unit for proceeds of up to $1-million.

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Calgary-based Alhambra Resources Ltd. (ALH-X), an international gold explorer and producer, said it plans to complete a financing for up to $8-million in convertible notes, the proceeds from which will provide the corporation with the working capital needed to resume its mining operations in Kazakhstan, reorganize its outstanding debts and prepare to resume its corporate development activities.

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