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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.

Pure Multi-Family REIT LP (RUF.UN-T) says it has canceled its process to seek a potential sale. A special committee was set up on April 5 after Electra America made a proposal to buy the REIT for US$7.59 per unit.

"The sale process was conducted by the REIT over several months with the assistance of Scotiabank," the REIT stated. It said 86 parties were contacted out of which 24 parties executed non-disclosure agreements and were provided access to Pure Multi-Family's data room. In the end, no final bids were received, after one bidder decided to back away, the REIT said.

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"Given the outcome of the process, the board and management will re-focus their efforts on existing operations and will consider potential future strategic opportunities that may become available to the REIT to maximize unitholder value."

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Just Energy Group, Inc. (JE-T; JE-N) issued a statement after markets closed on Thursday about its recent market activity. The company said its shares “have come under unwarranted market pressure,” in recent weeks, and felt it was “prudent to provide a mid-quarter update on the health of our business and our second fiscal quarter that will close on September 30, 2018.” The stock has fallen more than 25 per cent since it reported first-quarter results on Aug. 8.

The company said year-to-date results are aligning with the base EBITDA guidance of $200-million to $220-million for the fiscal year. It said the core commodity business "continues to perform well" and that recent "pricing and cost reduction actions" will "driv[e] performance beyond historical levels" in the last half of the fiscal year "supporting guidance for the current fiscal year and earnings growth into the future.

"The balance sheet remains strong," the company stated, adding that it remains "fully committed to returning capital to shareholders through dividend distributions."

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True North Commercial Real Estate Investment Trust (TNT.UN-T) said it has agreed to acquire an office property in Calgary for about $26.8-million. It said the cost is "expected to be satisfied by the proceeds from the REIT's July 2018 public unit offering, and first mortgage financing on the property in the amount of approximately $17.2-million."

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Echelon Financial Holdings Inc. (EFH-T) says its chief financial officer Alvin Sharma is resigning, effective Sept. 14, “to pursue another opportunity as a CFO in the life insurance industry.” The company will immediately begin a search for his successor and appointed, Patrick Espeut, vice president of finance, as interim CFO.

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Pieridae Energy Ltd. (PEA-X) says it’s buying Ikkuma Resources Corp. (IKM-X), to increase its position in North America "as a fully integrated LNG enterprise, from upstream development of natural gas reserves and resources to the production of liquefied natural gas for sale to its existing customers in Europe.”

As part of the proposed deal, each Ikkuma shareholder will receive, for each common share of Ikkuma, 0.1926 of a common share of Pieridae and 0.1 of a share of ExploreCo (with Ikkuma shareholders holding 100 per cent of ExploreCo upon completion of the arrangement), the companies stated.

"The acquisition of Ikkuma is an important step in the execution of Pieridae's strategic plans for the acquisition of natural gas reserves and resources in its integrated business model," the companies stated.

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Ikkuma's shareholders will be asked to vote on the transaction at a special shareholders' meeting to take place in October.

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Symbility Solutions Inc. (SY-X) reported consolidated revenue for the second quarter of $9-million compared to $8.2-million in the same period in 2017. One analyst was expecting revenue of $11.8-million.

Net income was $14.5-million or 6 cents per share compared to a loss of $900,000 or nil per share in the second quarter of 2017.

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