Our roundup of Canadian small-caps in the news today.
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Great Canadian Gaming Corp. (GC-T) says it and Brookfield Business Partners L.P. (BBU-N; BBU.UN-T) have been selected as the successful proponent by the Ontario Lottery and Gaming Corporation to operate certain gaming facilities in the Greater Toronto Area.
The three facilities — OLG Slots at Woodbine, OLG Slots at Ajax Downs and Great Blue Heron Casino — generated gross gaming revenue of more than $1-billion of 2016.
Great Canadian and Brookfield will acquire all the gaming assets in the so-called "GTA Bundle" through a transition and asset purchase agreement with OLG, "and will have the exclusive right to operate these assets for a minimum period of 22 years, in accordance with the requirements of a Casino Operating and Services Agreement," according to a release.
"We thank OLG for the award of the GTA Bundle on behalf of the partnership," stated Rod Baker, Great Canadian's CEO.
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Héroux-Devtek Inc. (HRX-T) reported first-quarter sales of $86.9-million, versus $95.6-million in the previous year.
Net income reached $4-million or 11 cents per share versus $5.2-million or 14 cents per diluted share last year.
Analysts were expecting earnings of 14 cents and revenue of $95.1-million.
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Endo International plc (ENDP-Q) says it has reached agreements to resolve "virtually all known U.S. mesh product liability claims" and says it's in discussions to resolve the known remaining U.S. claims "at reasonable values."
Endo says it will make installment payments beginning in the fourth quarter of 2017 and continuing through the fourth quarter of 2019.
In its second quarter 2017 results, it will increase its mesh product liability accrual by $775-million, which it said is expected to cover approximately 22,000 U.S. mesh claims, "as well as all known international mesh product liability claims and other mesh-related matters."
"Beginning in the second quarter of 2017, we aggressively executed a settlement strategy in connection with Endo's mesh litigation," said CEO Paul Campanelli. "While it remains possible that additional claims will be filed, we believe today's announcement will assist most mesh claimants to move forward with their lives and will permit Endo to move forward with an even greater focus on executing against our core strategic priorities."
In a separate release, Endo reported second-quarter revenue of $876-million, down from $921-million a year earlier.
Its net loss from continuing operations was $696-million compared to second-quarter 2016 reported net income from continuing operations of $390-million.
Its loss per share from continuing operations was $3.12 compared to $1.75 a year earlier.
Adjusted income from continuing operations was $207-million or 93 cents per share compared to $192-million or 86 cents per share.
Analysts were expecting revenue of $832.7-million and adjusted net income of $163.7-million a year earlier.
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Slate Retail REIT (SRU.UN-T) is buying Duluth Station for $9.75-million (U.S.) in the Atlanta area.
Closing is expected to be completed in the third quarter.
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Medicure Inc. (MPH-X) reported revenue of $20.3-million for the quarter ended June 30, compared to $7.7-million a year earlier.
Net income was $1.4-million or 9 cents per share, compared to net income of $433,000 or 3 cents for the quarter ended June 30, 2016.
Analysts were expecting revenue of $15.5-million.
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MDC Partners Inc. (MDCA-Q) said second-quarter revenue increased 16 per cent year-over-year to $390.5-million.
Net income attributable to MDC Partners common shareholders increased to $9.3-million from $800,000 a year earlier. Adjusted EBITDA increased 12 per cent to $47-million.
Analysts were expecting revenue of $368-million and net income of $8.7-million.
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Enercare Inc. (ECI-T) reported second-quarter revenue of $342-million up from $244.1-million a year earlier.
Net earnings were $21.1-million or 20 cents versus $16.1-million or 17 cents a year earlier.
Analysts were expecting revenue of $315.7-million and earnings of 22 cents.
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Marlin Gold Mining (MLN-X) is buying the Gavilanes Project in Durango, Mexico from Santacruz Silver Mining Ltd. (SCZ-V) for $3.5-million (U.S).
"This acquisition is a great transaction for both companies. Marlin gets to acquire an advanced exploration asset in one of the most prolific mining jurisdictions in the world for an attractive price, and Santacruz emerges as a debt free silver producer," said Akiba Leisman, interim CEO of Marlin.
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Cargojet Inc. (CJT-T) reported second-quarter revenue of $88.2-million, an increase of $8.9-million or 11 per cent versus the previous year
Adjusted EBITDA was $24.6-million, an increase of $2.1-million or 9.3 per cent versus the previous year.
Analysts were expecting revenue of $89.3-million and adjusted EBITDA of $23.5-million.
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Ensign Energy Services Inc. (ESI-T) reported second-quarter revenue of $232.2-million, an increase of 32 per cent from $175.9-million in revenue a year earlier.
Its net loss for the second quarter was $33.8-million or 22 cents per share compared to a net loss of $40-million or 26 cents for the second quarter of 2016.
Analysts were expecting revenue of $246.4-million and earnings of 22 cents.
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Kingsway Financial Services Inc. (KFS-T) reported a net loss attributable to common shareholders of $7.9-million (U.S.) in the second quarter, which included a non-cash loss of $2.7-million attributable to change in fair value of debt.
The loss was 37 per diluted share. That compared to a loss of $600,000 or 3 cents a year ago.
Total revenue was $44.9-million versus $41.1-million a year ago.