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inside the market

A needle.

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

Halifax-based Immunovaccine Inc. (IMV-T), a clinical stage vaccine and immunotherapy company, said it has entered into an exclusive worldwide license agreement with PharmAthene, Inc. (PIP-A) to develop and commercialize a Recombinant Protective Antigen Anthrax vaccine (rPA) candidate utilizing Immunovaccine's proprietary DepoVax vaccine platform.

Under the terms of the deal,  PharmAthene will work exclusively with Immunovaccine to develop an adjuvanted non-alum based rPA vaccine. In return, Immunovaccine has granted PharmAthene exclusive worldwide rights to use DepoVax for the development and commercialization of the novel single dose anthrax vaccine. Immunovaccine will receive annual payments of $200,000 (U.S.), payments of up to $8-million for the achievement of development, U.S. and international regulatory milestones, and initial product sales, and up to $42-million for the achievement of certain sales targets for a total of up to $50-million. Immunovaccine will receive a royalty on net sales and will not be responsible for product development costs.

"This agreement is a first step in our strategy to accelerate deployment of our DepoVax platform across multiple vaccine applications building out a robust portfolio of licensing deals with strategic partners. This platform is attractive to collaborators because it offers a strong, specific and sustained immune response with the capability for single-dose effectiveness," said Fred Ors, chief business officer of Immunovaccine.

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Oil and gas company Mountainview Energy Ltd. (MVW-X) said the credit facility issued to a wholly owned subsidiary of Mountainview, Mountain Divide, LLC, with outstanding principal in the amount of $49-million (U.S.) has matured and remains unpaid as of July 1. The company said its executive team is continuing to negotiate with its creditors.

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Bluestone Resources Inc.  (BSR-X) said it has closed a second tranche of its private placement of units. In total, the it has issued 18.7-million units at five cents each to raise $936,644.

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Vancouver-based East Asia Minerals Corp. (EAS-X) said it has entered into a Definitive Agreement with Pt. Arsinali, a corporation based in Indonesia, for the sale of 50 per cent of the company's interests in Sangihe Gold Corp., which holds a 70-per-cent interest in PT Tamang Mas Sangihe, an Indonesian company holding the company's interests in the Sangihe project in North Sulawesi, Indonesia. Pt. Arsinali will pay $1.4-million (U.S.) for the rights, along with a 1.5 per cent net smelter return royalty. It will also spend $1.9-million to bring the project to pre-production stage. Once that is completed, the company can purchase the remaining 50 per cent, East Asia said.

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Performance Sports Group Ltd. (PSG-T), a manufacturer of high performance sports equipment and apparel, said it expects full year currency neutral revenues of more than $675-million (U.S.), or a 51 per cent increase from $446.2-million in fiscal 2014. Including the impact of changes in foreign currency rates, the company expects to report record revenues of more than $654-million, up approximately 47 per cent. Fourth quarter revenues are expected to be $156-million, up about 38 per cent. Analysts expected fourth-quarter revenue of $146.45-million.

For fiscal 2015 ended May 31, the company expects currency neutral adjusted net income to increase by about 65 per cent to $61.5-million or $1.33 per diluted share. Currency neutral adjusted net income in the fourth quarter is expected to be $14-million or 30 cents per diluted share.

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Calgary-based Blackline Safety Corp. (BLN-X) said it has completed its name change from Blackline GPS Corp. to Blackline Safety Corp. Blackline is a leading designer, developer and manufacturer of employee safety monitoring technology that targets a global marketplace.

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BluMetric Environmental Inc. (BLM-X), an Ottawa-based cleantech company, announced it has appointed David Haig as president and chief operating officer. "As the COO, a new position in BluMetric, David will provide oversight of the business development and operations functions of the company," BluMetric said.

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Denver-based Thompson Creek Metals Company Inc. (TCM-T; TC-N) said total concentrate production for Mount Milligan for the quarter ended June 30, was 39.6 thousand dry tonnes, with 20.2 million pounds of payable copper and 59.9 thousand ounces of payable gold, which represented increases of about 26 per cent and 62 per cent, respectively, from the year-ago period.

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Winnipeg-based New Flyer of America Inc., a subsidiary of New Flyer Industries Inc. (NFI-T) , a manufacturer of heavy-duty transit buses in the United States and Canada, said Orange County Transportation Authority has approved two contracts to purchase 218  Xcelsior compressed natural gas heavy-duty buses.

The contracts are firm orders for 202 XN40 Xcelsior 40-foot buses, with options for 10 more and 16 XN60 60-foot articulated Xcelsior buses. With this order OCTA will goosed its New Flyer fleet to 556 vehicles.