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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.

Enghouse Systems Ltd. (ENGH-T) announced its second-quarter revenue increased to $89.2-million, compared to revenue of $85.2-million in the second quarter last year. “The revenue increase primarily reflects contributions from acquisitions and incremental license revenue in both operating groups,” the company stated. Net income for the quarter ended April 30 was $16.5-million or 30 cents per share compared to $15.3-million or 28 cents per share in the prior year’s second quarter. Analysts were expecting revenue of $88.4-million and earnings of 28 cents per share.

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Major Drilling Group International Inc. (MDI-T) reported that fourth-quarter revenue was $100.4-million, up 5 per cent from the $95.4-million recorded for the same quarter last year and ahead of expectations of $102.7-million. The net loss was $3-million or 4 cents per share compared to a net loss of $4.3-million or 5 cents per share for the prior-year quarter.

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Stelco Holdings Inc. (STLC-T) announced that DTE Energy Services Inc. will be its exclusive development partner on a cogeneration project at Stelco’s Lake Erie facility in Nanticoke, Ont. “The partnership between Stelco and DTE represents an important next step towards the construction and commissioning of cogeneration capacity that will serve to reduce the company’s costs by utilizing excess industrial gases and reducing exposure to peak electricity pricing,” the company stated. It said DTE will “conduct detailed design, engineering and development services to pursue the next phase of the cogeneration project.”

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DionyMed Brands Inc. (DYME-CN) announced an investment agreement with Alumina Partners (Ontario) Ltd. providing availability of up to $32-million over two years. The company said the funding will be used for the expansion of its cannabis product portfolio “into new growth markets.” Under the terms of the agreement, DionyMed will sell, on a private placement basis completed in tranches, units of the company with a total value of up to $2-million per tranche, over a 24-month period. Each unit consists of one subordinate voting share and one half of one subordinate voting share purchase warrant in the capital of DionyMed, the company stated.

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Western Forest Products Inc. (WEF-T) announced temporary production curtailments at three of its sawmills “to align production volumes to match current customer demand.”

Western said it will curtail its Duke Point sawmill for two weeks and its Saltair sawmill for one week in June. The company will also reduce operating levels from 120 hours per week to 80 hours per week at its Chemainus sawmill.

“The temporary production curtailments are necessary due to challenging market conditions,” said Don Demens, Western’s CEO. “The challenge of weak markets is compounded by the disproportionate impacts of softwood lumber duties on high-value products, including Western Red Cedar.”

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NFI Group Inc. (NFI-T) announced that the city of Detroit and Detroit Department of Transportation have awarded its New Flyer of America subsidiary with a new order for 25 40-foot and five 60-foot clean diesel Xcelsior heavy-duty transit buses (35 equivalent units). “This is the second order from a five-year contract for 200 buses signed by DDOT in 2017, leaving options to purchase a total of 140 buses over the remaining three years,” the company stated.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 9:30am EDT.

SymbolName% changeLast
ENGH-T
Enghouse Systems Ltd
+0.07%30.7
MDI-T
Major Drilling Grp
+0.79%8.92
STLC-T
Stelco Holdings Inc
+0.39%44.19
WEF-T
Western Forest Products Inc
-1.56%0.63
NFI-T
Nfi Group Inc.
-0.38%13.27

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