Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Net income attributable to shareholders was $6.3 million or 3 cents per share compared to $40-million or 19 cents per share a year ago. Adjusted net income attributable to shareholders was $15.7-million or 7 cents per share compared to adjusted net income attributable to shareholders of $41.9-million or 20 cents per share for the prior-year quarter. Analysts were expected adjusted earnings of 5 cents per share.
Minto Apartment Real Estate Investment Trust (MI.UN-T) announced two separate agreements to acquire interests in two multi-residential rental properties, including a 50-per-cent interest in the 1,004-suite Rockhill Property in Montréal for $134-million and a 50-per-cent interest in the 409-suite Leslie/York Mills apartment complex in Toronto for $75-million.
"These acquisitions increase our suite count by 31 per cent, while also advancing our growth and geographic expansion strategies," said Michael Waters, CEO of Minto Apartment REIT.
The total purchase price for the acquisitions will be satisfied in part by assuming an existing $23.5-million mortgage and arranging approximately $67.5-million in new mortgage financing. The REIT also announced an agreement to issue 7.7 million trust units on a bought deal basis at a price of $19.60 per unit for gross proceeds of approximately $150-million.
High Arctic Energy Services Inc. (HWO-T) announced it will acquire the assets of Precision Drilling Corp.'s (PD-T) snubbing services equipment in Canada for $8.25-million. It said the amount will be settled in cash from cash on hand.
MORE TO COME