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midnight trader

A look at Canadian issues moving on early news

VIQ Solutions Inc. (VQS-X) announced today that it has teamed with PESA Switching Systems, Inc. for the integration of PESA's newly released C58 Digital Media System with VIQ's suite of software solutions.

Descartes Systems Group (DSG-T), which was off by 4 cents yesterday, announced today that it has signed an agreement to acquire all of the assets of Integrated Export Systems, Ltd. and IES Asia Ltd. for approximately $35-million (U.S.) in cash.

Canadian Orebodies Inc. (CO-X), which almost hit year lows yesterday, announced today that its 2012 exploration program commenced on the Belcher Islands, Nunavut. Drilling started on the Kihl Bay Anticline target area, which is located to the northeast of Haig Inlet.

ADF Group Inc. (DRX-T), which was up 3 per cent yesterday, announced today revenues of $12.5-million for the first quarter ended April 30, 2012 compared with $13.2-million for the same period last year. The company posted a slight profit of $0.1-million or $0.00 per share compared with a net income of $1.1-million or $0.03 per share in the same period the previous year.

Anaconda Mining Inc. (ANX-T), which has moved closer to year highs, announced today that it has sold 3,677 ounces of gold and generated $6.04-million in revenue at an average sales price of $1,642 per ounce. The fourth-quarter sales volume and revenue were approximately 12 per cent and 9 per cent greater than the third-quarter sales volume and revenue, respectively.

Duluth Metals Limited (DM-T), which hit year lows yesterday, announced details of a new technical report confirming "significant" increases to its Twin Metals' copper-nickel-palladium-platinum-gold resource.

Patheon Inc. (PTI-T) said its loss before discontinued operations increased to $79.6-million, compared to $10.3-million in the second quarter of fiscal 2011, due to the after-tax impact of the previously announced impairment charges of $57.9-million and $4.7-million in consulting fees, as well as repositioning expenses of $4.9-million.

Cangene Corporation (CNJ-T) said third-quarter net loss of $4.6-million (U.S.) compares with a net loss of $1.4-million in the same quarter last year.

Mediagrif Interactive Technologies Inc. (MDF-T) said net earnings reached $2.6-million ($0.19 per share) during the fourth quarter of fiscal 2012, compared to $1.9-million ($0.14 per share) in the corresponding quarter of 2011.

Imvescor Restaurant Group Inc. (IRG-T) reported net loss for the 13 weeks ended April 29, 2012, of $1.2-million compared to a net loss for the 13 weeks ended May 1, 2011 of $554,000. The adjusted net losses for the same periods were $1.37-million and $554,000 respectively.

Altan Rio Minerals Limited (AMO-X), which is trading near year lows, announced results of the inaugural drilling campaign at the 100 per cent owned Khavchuu gold exploration project in northern Mongolia.