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Traders work in the Merrill Lynch booth on the floor of the New York Stock Exchange (NYSE) moments after the closing bell December 31, 2008 in New York City.

Spencer Platt/2008 Getty Images

Avnel Gold Mining Limited announced today its financial results for the first quarter of 2012. The company said revenues were $5-million, up from $2.5-million in the previous year. The quarter ended with a net profit of $4.6-million, a significant improvement from the previous year's loss of $8.4-million.

Biotechnology company Kane Biotech Inc. announced that it has successfully completed the StrixNB pilot dog efficacy study using the VOHC (Veterinary Oral Health Council) recommended test protocol. Dr. Sri Madhyastha, VP of Research and Chief Scientific Officer, said: "Completion of the pilot study has demonstrated the efficacy of StrixNB against bacteria associated with dental plaque and periodontal disease in dogs."

Spartan Oil Corp. , which closed down by about 3 per cent yesterday, announced today its financial results for the three months ended March 31, 2012. Net earnings rose to $4.8-million from $0.2-million in the fourth quarter of 2011. Revenue increased to $11.2-million from $13.2-million in the fourth quarter of 2011. Cash flow from operations also went up by 27 per cent to $10.3-million.

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DirectCash Payments Inc. announced today a cash dividend of $0.115 (11.5 cents) per share for the month of May, 2012. The dividend will be paid on June 29, 2012, to shareholders of record on May 31, 2012.

Redknee Solutions Inc. announced today that it has signed multiple new solution upgrades with its customer base in North America, leading to a multi-million dollar increase in Redknee's Tier 1 business. Lucas Skoczkowski, CEO, said: "We see the growth of LTE as one of the key drivers for Redknee's growing footprint across the globe, especially in Tier 1 carriers."

The chief executive of Calvalley Petroleum Inc. , Edmund Shimoon, has been charged with insider trading by securities regulators.

Canacol Energy Ltd , which dropped nearly 7 per cent on Monday, posted net income of $3.7-million or 1 cent per share for the third quarter, compared with a loss of $852,000 in the previous corresponding period.

Leon's Furniture Ltd. reported that its first-quarter net income attributable to the company declined to $8.60-million or $0.12 per share from $10.3-million or $0.14 per share a year earlier mainly due to higher marketing and opening costs related to four new stores.

Chorus Aviation Inc. , which lost 3 per cent yesterday, announced its first-quarter 2012 earnings, with a net income of $26.4-million or $0.21 per share, and adjusted net income of $23.0-million or $0.19 per share.

Brigus Gold Corp , which fell 2.5 per cent yesterday, said net income and comprehensive income in the first quarter rose to $5.5-million or 3 cents per basic share, from $4.3-million or 2 cents per basic share in the year earlier period. Key milestones included producing 16,922 ounces of gold, hitting the top end of its production guidance, and achieving average grades of 5.28 grams per tonne (gpt) from the underground mine, up 95 per cent from the fourth quarter 2011.

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