Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
DHX Media (DHX-T; DHXM-Q) announced that Eric Ellenbogen has been appointed CEO and vice chair of the board, effective Aug. 29. Mr. Ellenbogen succeeds Michael Donovan, who has stepped down as CEO, the company said.
Mr. Donovan has also stepped down as executive chair and will continue to serve on the board as founding chair, the company stated. Donald Wright has been appointed non-executive chair.
Cansortium Inc. (TIUM-U-CN) said its second-quarter revenue increased 19 per cent to $6.1-million, compared to pro-forma revenues of $5.1-million for the second quarter of 2018. Analysts were expecting revenue of $5.6-million.
Its consolidated net loss totalled $5.3-million, or 3 cents per share, compared to pro-forma net income of $4.9-million, or 4 cents per share for the second quarter of 2018.
The company also revised its full-year revenue outlook to $40-million from its previous outlook of $80-million to $82-million, citing delayed cultivation and dispensary openings. It also expects a consolidated net loss of approximately $30-million for fiscal 2019.
The company also said it expects to be profitable in the first quarter of 2020, citing "anticipated incremental cultivation capacity, dispensary openings, and operating momentum resulting in increased revenues expected by year-end.
Plus Products Inc. (PLUS-CN) reported second-quarter revenues climbed to US$3.6-million a 125-per-cent increase from revenues of US$1.6-million for the same quarter last year. Its loss was US$5.4-million or 17 cents US per share versus a loss of US$1.1-million or 10 cents US a year ago.
Dixie Brands Inc. (DIXI-U-CN) reported second-quarter revenue was US$3-million an increase of 266 per cent from US$817,558 of revenue a year earlier. “Revenue growth was driven by sustained presence and increased dispensary penetration in established markets, increasing traction in the key California market, the first full quarter of sales in Michigan, and the introduction of new products,” the company stated.
Its net loss attributable to the company was US$6.8-million compared to US$1.2-million a year earlier. “The increased loss resulted primarily from higher operating expenses associated with the expansion of Dixie’s work force, and in particular its sales and marketing organization, as well as costs related to becoming a publicly-listed company,” the company stated.