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Chad Wasilenkoff of Fortress Paper is seen in this file photo.

Rafal Gerszak/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.

Journey Energy Inc. (JOY-T) has an agreement with a private company to buy interests in central Alberta for about $35.6-million in cash and shares.

The deal includes $29.6-million in cash and 2.1 million common shares of Journey.

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The company said the acquisition is consistent with its expansion strategy.

Journey also reported fourth-quarter funds flow of $8.4-million or 19 cents per share compared to $9.5-million or 22 cents a year earlier.

Its net income was $49.3-million or $1.13 per share compared to $38.6-million or 89 cents a year earlier.


Northern Dynasty Minerals Ltd. (NDM-T; NAK-N) says its wholly-owned subsidiary, Alaska-based Pebble Limited Partnership and the U.S. Environmental Protection Agency (EPA) have filed a joint motion in federal court to extend a stay of proceedings in ongoing litigation.

The company said the extension is until May 4, "in the interest of resolving the matter."

"The company has made substantial progress in recent discussions with the EPA and intends to continue negotiating the matter directly, rather than through mediation, " it said in a release.

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Argonaut Gold Inc. (AR-T) reported fourth-quarter revenue of $35.3-million up from $32-million a year earlier.

Its net income was $500,000 or nil per share compared to a loss of $182.5-million or $1.18 per share.

Analysts were expecting sales of $42-million and earnings of 2 cents in the most recent quarter.


Automotive Properties Real Estate Investment Trust (APR.UN-T) said fourth-quarter property revenue increased by 22 per cent to $9.1-million, up from $7.5-million in the fourth quarter of 2015, "reflecting the impact of acquisitions and rent increases across the portfolio."

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Net operating income was $7.7-million, an increase of 18 per cent from $6.5-million in a year ago.

Funds from operations increased by 13 per cent to $5-million, or 22.9 cents per unit, from $4.5-million, or 24.7 cents per unit a year earlier.


Cipher Pharmaceuticals Inc. (CPH-T) says it has appointed veteran pharmaceutical industry executive Robert Tessarolo president and CEO, effective April 17.

Mr. Tessarolo most recently held the position of vice president and general manager with Celgene Corp.


Fortress Paper Ltd. (FTP-T) reported a fourth-quarter net loss of $7.2-million compared to a loss of $3.7-million a year ago.

Sales were $80.9-million compared to $74.6-million a year earlier.


Carmanah Technologies Corp. (CMH-T) reported fourth-quarter revenue of $10.7-million (U.S.), down 32 per cent from $15.8-million a year earlier.

Net income in the fourth quarter was $80,000  down from $1.3-million in the fourth quarter of 2015.

Analysts were expecting revenue of $12.3-million.


Inovalis Real Estate Investment Trust (INO.UN-T) reported fourth-quarter earnings of $3-million down from $6.6-million a year earlier.

Rental income was $8.2-million up from $6.9-million a year earlier.

Funds from operations were $4.3-million versus $3.9-million a year earlier.

Adjusted funds from operations per unit came in at 25 cents compared to 26 cents a year earlier.


Street Capital Group Inc. (SCB-T) said president and CEO Lazaro DaRocha has announced his intention to retire effective September 30.

Ron Lalonde has been appointed as chair of a search committee to find a suitable replacement.


TSO3 Inc. (TOS-T) reported fourth-quarter revenue of $3.75-mllion (U.S.) compared to $150,000 in the same period last year.

Its net loss was $2.1-million or 2 cents per as compared to $2.2-million or 3 cents per share in the year-ago quarter.

Analysts were expecting a loss of a penny per share and revenues of $2.8-million.


Sears Canada Inc. (SCC-T; SRSC-Q) has entered into a credit agreement with KKR Capital Markets LLC and GACP Finance Co., LLC for a five-year secured term loan of up to $300-million.

The loan is available in two tranches, the company said.

It said the first tranche of $125-million has been drawn in full today.

Sears said the loan will be available "for general corporate purposes."

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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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