Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Aecon Group Inc. (ARE-T) beat expectations even though its net loss widened in the first quarter as revenues increased 15 per cent.
The Toronto-based construction firm says it lost $11.4-million or 19 cents per diluted share for the period ended March 31. That compared with a loss of $9.8-million or 16 cents per share a year earlier.
Revenues increased to $747.5 million from $650.3 million while it maintained a near-record order backlog of $7 billion.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased to $19.2 million from $11.9 million a year earlier.
Aecon was expected to lose $9.6-million on $655.8-million of revenues, according to financial markets data firm Refinitiv.
-The Canadian Press
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TerrAscend Corp. (TER-C) said its sales increased 414 per cent in the fourth quarter to $25.9-million from $5-million a year ago. Its adjusted EBITDA loss of $5.7-million, compared with $4.5-million. Its net loss was $171.8 million or $1.31 per share versus a loss of $11.8-million or 13 cents a year earlier.
TerrAscend Corp. also announced the appointment of Keith Stauffer as chief financial officer, effective April 27. The company said Mr. Stauffer will be based in New York City. Most recently, he was CFO of the Global Consumer Beauty Division at Coty, Inc.
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Maya Gold & Silver Inc. (MYA-T) announced that its chairman, president and CEO Noureddine Mokaddem Chairman is retiring and stepping down from the roles. Mr. Mokaddem will remain on the board. Benoit La Salle has been appointed president and CEO and as a director, effective immediately. Robert Taub has been appointed as chairman of the board.
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Great Panther Mining Ltd. (GPR-T) announced that the Mexican federal government has ordered an extension of the suspension of non-essential activities in Mexico until May 30 in response to COVID-19.
The company announced a temporary suspension of production activities at its Mexican operations on April 2 through April 30 in response to a first order by the Mexican government to suspend such activities.
The company said the directive provides for a potential re-start of operations following May 18, for operations located in municipalities exhibiting low, or no, cases of COVID-19. The company said it will continue to comply with the directive and "will evaluate and seek the opportunity to qualify for the noted exemption."
Great Panther said monthly production from its Mexican operations accounts for approximately 2 per cent of annual consolidated production on a gold equivalent ounce basis.
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