Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Pollard Banknote Ltd. (PBL-T) reported fourth-quarter sales of $79.6-million up from $65.7-million a year earlier. Net income was $4.3-million versus $3.8-million a year ago. Earnings came in at 18 cents per share as compared to 16 cents a year earlier.
Analysts were expecting revenue of $78.6-million and earnings of 18 cents per share.
Pinnacle Renewable Holdings Inc. (PL-T) says it has received approval to start the redevelopment by Smithers Pellet Limited Partnership (SPLP) of an existing particle board facility in Smithers, B.C. to a wood pellet production facility. SPLP is a limited partnership in which West Fraser Timber Co. Ltd. (WFT-T) has a 30-per-cent and Pinnacle has 70 per cent.
"We are pleased to be partnering on the Smithers facility redevelopment with West Fraser. This project will contribute to the economic vitality and job growth of Smithers and other local communities," said Robert McCurdy, CEO of Pinnacle.
Eldorado Gold Corp (ELD-T) announced "several changes to its senior management team," including the departure of its chief financial officer, "to support the company's strategy of focusing on delivering production and earnings growth from its portfolio of high quality assets." CFO Fabiana Chubbs is leaving at the end of April. The company is looking for a replacement.
Chesswood Group Ltd. (CHW-T) reported operating earnings of $8-million in the fourth quarter compared to $6-million for the same time a year earlier. Net income was $13.8-million or 76 cents per share versus $5.1-million or 28 cents a year earlier.
Torstar Corp. (TS.B-T) confirmed in a statement that officials from the Competition Bureau conducted searches of its corporate offices as part of its ongoing review of its transaction with Postmedia Network Inc. involving the purchase and sale of a number of daily and community newspapers.
"Torstar does not believe it has contravened the Competition Act and is cooperating fully with the Competition Bureau in connection with its review," the company stated.
VBI Vaccines Inc. (VBIV-Q; VBV-T) says it has applied to voluntarily delist its common shares from the Toronto Stock Exchange, "due to the very limited trading activity of the company's shares" on the exchange. The shares will continue to be listed on the NASDAQ. The shares will be delisted from the TSX at the close of trading on March 23, the company said.
Its net loss was $45.8 million or 68 cents per share, compared to net loss of $31.1-million or 48 cents in the fourth quarter of 2016.
Analysts were expecting revenue of $24.8-million and a loss of 34 cents.
Auryn Resources Inc. (AUG-T; AUG-N) is raising US$8.5-million in financings. It has an agreement with Cantor Fitzgerald Canada Corp. to buy about 5.2 million shares at US$1.30 per share to raise US$6.8-million. The company said it also plans to complete a concurrent private placement of flow-through common shares for proceeds of up to US$1.7 million.
Proceeds of the offering are anticipated to be used for drilling and exploration and general corporate purposes, the company said.