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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Hexo Corp (HEXO-T) announced the appointment of Charlie Bowman as acting president and CEO, effective today. The company said Mr. Bowman will move into a permanent role after Health Canada’s security clearance process for key personnel. Scott Cooper is stepping down from his role as the company’s president and CEO, the company stated. Mr. Bowman was previously served as Hexo’s acting chief operating officer and general manager of HEXO USA.

The company also announced the departure of acting chief financial officer Curtis Solsvig and the appointment of Julius Ivancsits in the role, effective May 16. He too will take on the role permanently after Health Canada’s security clearance process, the company stated.


NFI Group Inc. (NFI-T) announced that it’s lowering its 2022 financial guidance for revenue and adjusted EBITDA, citing market conditions and supply chain disruptions, including shortages of critical parts.

The bus maker said revenue is expected to come in at US$2.3-billion from US$2.6-billion. The result is in line with expectations of US$2.5-billion. The guidance is down from expectations announced in its fourth-quarter report of US$2.5-billion to US$2.8-bilion.

Adjusted EBITDA is expected between US$15-million to US$45-million, compared to previous guidance of US$100-million to US$130-million.

The company said it was recently notified by a supplier that it will see shortages of critical microprocessor control modules for its North American transit buses during the second and third quarters of 2022.


Eldorado Gold Corp. (ELD-T) reported first-quarter revenue of US$194.7-million, down from US$224.6-million a year earlier. The expectation was for sale revenue of US$198.8-million.

It sold 94,472 ounces of gold for an average price of US$1,889 per ounce. That compared to 113,594 ounces sold for an average of $1,732 per ounce a year earlier.

The company said its net loss was US$316.8-million or US$1.74 per share versus net income of US$14.3-million or 8 US cents per share a year earlier.

The company said the lower net income in the first quarter “is primarily attributable to the impairment of the Certej project, a non-core gold asset, and the write-down of decommissioned equipment at Kisladag.”


Advantage Energy Ltd. (AAV-T) reported first-quarter sales of $177.6-million, up from $99.4-million a year earlier.

Net income of $19.5 million or 10 cents per share versus a loss of $425,000 or nil per share a year earlier.


Pason Systems Inc. (PSI-T) reported first-quarter revenue of $74.5-million up from $42.6-million a year earlier and ahead of expectations of $69.6-million.

Net income of $18-million or 23 cents per share compared to net income of $4-million or 5 cents a year ago.


Field Trip Health Ltd. (FTRP-T) announced a reorganization that will result in the separation of its Field Trip Discovery and Field Trip Health divisions into two independent public companies. It said Field Trip Discovery will be renamed Reunion Neuroscience Inc. and Field Trip Health will be renamed Field Trip Health and Wellness Ltd. (H&W)

Field Trip H&W is also expected to complete financings for gross proceeds of approximately $20-million led by Oasis Management Company and the company.


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