Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
CannTrust Holdings Inc. (TRST-T) named Greg Guyatt as chief executive officer, months after it fired Peter Aceto following a Health Canada finding that the marijuana producer grew cannabis in unlicensed rooms. CannTrust fired Aceto from the top role in July last year and named Robert Marcovitch as the interim CEO, more than two weeks after Canadian health regulator’s findings.
The regulator had canceled CannTrust’s license to produce and sell cannabis in September last year, pushing the company to announce reductions in its workforce to recoup losses. The company said on Thursday it anticipates remediation activities at the company’s Vaughan facility to reach completion during the second quarter of 2020.
“No assurance can be given that Health Canada will reinstate either the Niagara or Vaughan Facility licenses”, CannTrust said in a statement.
Health Canada’s rating for the Vaughan plant was based on an inspection between July 10 and July 16. The regulator noted that five rooms, converted from operational areas, were used for storage since June 2018 without prior approval by the regulator.
The company also said it was facing a variety of regulatory investigations and has significant contingent liabilities in both Canada and the United States, including for potential civil damages and penalties and fines.
The Supreme Cannabis Company, Inc. (FIRE-T) said its revenue increased 17 per cent to $9.1-million for the second quarter ended Dec. 31 versus a year earlier. Its net loss was $17.3-million or 5 cents per share versus a loss of $16.5-million or 5 cents a year earlier.
Analysts were expecting a loss of 2 cents and revenue of $10.1-million.
Morguard Real Estate Investment Trust (MRT.UN-T) reported fourth-quarter revenue of $69.2-million down from $71.9-million a year earlier. Its net loss was $3.6-million or 6 cents per unit versus a profit of $7-million or13 cents per share.
Funds from operations were 38 cents per diluted share, which was in line with expectations and compared to 40 cents a year earlier.
NFI Group Inc. (NFI-T) announced it has selected by the Oregon State Government as an approved supplier of heavy-duty low-floor transit buses to the State of Oregon Heavy-Duty Transit Bus Price Agreement. The agreement is for up to five years, including a base term of two years with options to extend for three additional one-year periods.
Sierra Wireless Inc. (SWIR-Q; SW-T) reported fourth-quarter revenue of US$174.3-million, which it said was 13.5-per-cent compared to the year-ago period. Its net loss was US$10.9-million, or 30 US cents per share in the fourth quarter compared US$3.8 million, or 11 US cents in the fourth quarter of 2018. Analysts were expecting revenue of US$170.9-million and a loss of 38 US cents.
Slate Retail REIT (SRT.UN-T) announced that David Dunn, the REIT’s current chief operating officer, has been named as CEO, effective March 12. CEO Greg Stevenson will retire from the company and remain available to the Slate Asset Management team “throughout the adjustment period to ensure a smooth transition,” the REIT stated.
"David is absolutely the right person to lead the REIT today as we continue to grow the portfolio and focus on delivering long-term unitholder value,” stated Mr. Stevenson.
MTY Food Group Inc. (MTY-T) announces it has decided to postpone the publication of the fourth-quarter results scheduled for Feb. 18 to a date to be announced.
"The decision follows certain allegations recently made by a purported whistleblower employee," the company stated. "While MTY believes that these allegations are baseless and frivolous, the board of directors, out of extreme precaution, will take the required amount of time to address the matter in the appropriate manner."
The publications of the fourth-quarter results are still expected within the regulatory deadline, the company stated.
Canopy Rivers Inc. (RIV-T) reported a net loss of $2.7-million or a penny per share versus a profit of $1.4-million or a penny per share a year earlier. the company said its total comprehensive loss was $39.9-million versus $79.5-million a year ago.