Friday’s small-cap stocks to watch

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

Automotive Properties Real Estate Investment Trust (APR-UN-T) reported fourth-quarter property rental revenue was $13.7-million, an increase of 26.6 per cent from the fourth quarter of 2017 and ahead of expectations of $13-million. Net Income was $13.7-million, compared to $6.6-million a year earlier.

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Pretium Resources Inc. (PVG-N; PVG-T) said an independent investigation into recent trading in its shares found “no evidence of an information leak by the company” but “evidence of instances of market manipulation in trading of Pretivm shares by an outside party or parties.”

The company said the findings of the investigation have been turned over to the U.S. and Canadian securities regulators "for possible further action relating to the evidence of market manipulation." The company also said it will cooperate with the securities regulators "to its fullest extent in their review."

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Canacol Energy Ltd. (CNE-T) reported fourth-quarter revenues of $50.7-million up from $39.8-million a year earlier. Its net loss of $16.3-million or 9 cents versus a loss of $150.3-million or 85 cents a year earlier.

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Héroux-Devtek Inc. (HRX-T) announced the appointment Gilles Labbé, the president and CEO of the company, as executive chairman of the board, and Martin Brassard, the chief operation officer, as president and CEO, effective June. 1.

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Fiera Capital Corp. (FSZ-T) announced a deal to buy Integrated Asset Management Corp. (IAM-T) for an equity value of $74-million, which represents total IAM enterprise value of $64-million and $10-million of adjusted cash on hand, the company stated.

Fiera said the total consideration will include $55.5-million in cash and $18.5-million of Fiera Capital Class A subordinate voting shares. "IAM shareholders will also receive additional contingent consideration in the form of contingent value rights," the company stated.

Fiera also reported fourth-quarter revenues of $157-million, an increase of $15-million, or 11 per cent compared to $142-million for the same period last year. Its net loss was $1.6-million or 2 cents per share versus a profit of $1.1-million or a penny per share a year earlier. Adjusted net earnings came in at 29 cents down from 35 cents a year ago but ahead of expectations of 24 cents per share.

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Wajax Corp. (WJX-T) reported fourth-quarter revenue fo $398.8-million up from $375.5-million a year earlier. Net earnings came in at $6.1-million or 31 cents per share, which was the same as the prior-year period. Adjusted earnings came in at 42 cents per share versus 47 cents a year ago.

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MedMen Enterprises Inc. (MMEN-CN) announced it has signed a “binding term sheet” for a senior secured convertible credit facility of up to US$250-million from funds managed by Gotham Green Partners, an investor in the global cannabis industry. “Management believes this is the largest investment to date by a single investor in a publicly traded cannabis company with U.S. operations,” the company stated.

The company said it intends to use the net proceeds from drawdowns on the facility to fund the future capital needs of the business.

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Northern Dynasty Minerals Ltd. (NDM-T; NAK-A) announced that plaintiffs have filed a notice of appeal regarding the order issued by the United States District Court for the Central District of California “dismissing their purported securities class action.” The company said an appeal is expected to be filed with the Ninth Circuit Court of Appeals in the next 40 days, adding that it “intends to continue defending itself vigorously in this action.”