Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Aimia Inc. (AIM-T) announced that the Quebec Superior Court (Civil Division) in the District of Montreal issued a decision in favour of Aimia dismissing the application for injunctive relief filed by Air Canada and Aeroplan Inc.
Aimia said the application related to the proposed combination of its Loyalty Solutions business with a subsidiary of Kognitiv Corp. announced on April 29. "The application alleged that the transaction would breach certain non-competition and confidentiality provisions entered into by Aimia in connection with the sale of Aeroplan in November 2018," the release stated.
"Having received the favourable decision from court, Aimia and Kognitiv closed the transaction today," it stated.
"We are extremely pleased to prevail on the injunction application," stated Aimia interim CEO Phil Mittleman. "With the closing of the transaction with Kognitiv now complete, Aimia is now a minority shareholder in an exciting new business that's expected to accelerate the combined entity's potential growth and path to profitability. We believe the transaction with Kognitiv provides substantial upside potential for stakeholders."
Stelco Holdings Inc. (STLC-T) announced that its Stelco subsidiary has entered into an agreement with DTE Energy Services, Inc. for the development, construction and operation of a 65MW cogeneration facility at its Lake Erie facility in Nanticoke, Ont.
DTE will fund the capital costs associated with the construction of the Cogen Plant, the company said, and Stelco will pay DTE a fixed annual fee pursuant to an energy services agreement for operating the Cogen Plant for a term of 20 years.
"This arrangement with DTE is yet another example of Stelco's commitment to improve our business efficiencies and reduce our cost of electricity while at the same time improving our environmental footprint by recycling energy-containing gasses," stated Alan Kestenbaum, CEO of Stelco Holdings.
Alithya Group inc. (ALYA-T; ALYA-Q) reported that its revenues increased 0.7 per cent to $73.2-million in its fourth quarter ended March 31, which was in line with expectations and compared to $72.6-million for the same quarter last year.
Its net loss of $34-million, or 59 cents per share, which includes an impairment charge on intangibles and goodwill of $28-million, compared to a net loss of $2.7-million or 5 cents a year earlier.