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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.

Velan Inc. (VLN-T) reported sales for its fourth quarter ended Feb. 28 of US$105.3-million up from US$102.6-million a year earlier.

Net earnings of US$1.5-million for the quarter or 7 cents per share compared to a loss of US$8.2-million or 38 cents a year earlier.

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The company also announced that two of its subsidiaries, Velan ABV Srl and Velan Sas, have secured contracts with a total value of US$63-million.

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Northview Apartment Real Estate Investment Trust (NVU.UN-T) announced after markets closed on Thursday a $75-million bought deal equity financing and a $53-million acquisition.

The trust announced it has agreed to sell 2.8 million trust units at a price of $26.80 each to a syndicate of underwriters co-led by CIBC Capital Markets and Scotiabank. The trust units closed at $27.83 on Thursday.

Northview said it intends to use the net proceeds to fund the acquisition of a property in Guelph, Ont.., for the purchase price of $52.7-million and to repay a portion of its credit facilities.

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Iamgold Corp. (IMG-T) is exploring a possible sale of all or parts of the gold miner business, Bloomberg reported on Thursday, citing people familiar with the matter. The company, which has four operating gold mines, is working with advisers and has been in talks with several potential buyers, according to the report. Iamgold was not immediately available for comment.

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-Reuters

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The Flowr Corp. (FLWR-X) reported first-quarter net revenue of approximately $1.6-million versus nil a year earlier. Its net loss in was approximately $5.9-million or 6 cents per share versus a loss of $2.6-million or 3 cents a year earlier.

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Diversified Royalty Corp. (DIV-T) announced it will acquire the trademarks and certain other intellectual property rights utilized by Mr. Mikes in its restaurant business for a purchase price of approximately $43.2-million. The price will be satisfied by a cash-on-hand payment of $37.1-million, the issuance of limited partnership units of MRM LP to Mr. Mikes at a value of $1.15-million and a deferred amount of $4.95-million, payable by MRM LP to Mr. Mikes at least 12 months following closing subject to certain conditions being met, the company stated.

As a result of the acquisition, DIV said its payout ratio will improve to 110 per cent while available cash is $45 million. Mr. Mikes operates 42 casual steakhouse restaurants across Canada.

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Highwood Oil Company Ltd. (HOCL-X) announced the purchase of oil assets in the Peace River Oil region of Northern Alberta for a total transaction value of $93.8-million. The acquisition includes a 55-per-cent operated working interest in the Peace River Oil Partnership, the company stated, as well as access to a large 2D / 3D seismic database license “and extensive egress and infrastructure in place to facilitate self-sustaining operations.”

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