Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Its net loss was $71.3-million or 45 cents per share versus a profile of $2-million or a penny per share a year earlier.
Analysts were expecting revenue of $199.9-million and a loss of 72 cents per share, according to S&P Capital IQ estimates.
The company said the target of over $75-million in annualized cost savings is expected to come primarily from the combination of the MCI and New Flyer business units and facility rationalization. It said NFI Forward is expected to deliver an 8-to-10 per cent reduction to both manufacturing overhead and general and administrative expenses.
AirBoss of America Corp. (BOS-T) announced that AirBoss Defense Group has been awarded a contract by the U.S. Department for Health and Human Services Office of the Assistant Secretary for Preparedness and Response for the manufacture and sale of 50,000 FlexAir Powered Air Purifying Respirator systems, three million high-efficiency filters and related accessories, including spare protective hoods, for delivery to the Strategic National Stockpile.
The contract is expected to be worth an aggregate amount of US$121-million, the company stated.
Altius Minerals Corp. (ALS-T) announced that it has entered into an agreement with Liberty Metals & Mining Holdings, LLC, to acquire its 44.9-per-cent interest in “certain royalty based limited partnerships,” of which Altius acts as general partner. Upon closing, Altius said its partnership interests will increase from 52.4 per cent to 97.3 per cent.
Nomad Royalty Company Ltd. (NSR-T) announced that it has entered into a royalty purchase agreement with a private vendor to acquire an existing net smelter return royalty on the Troilus Gold project in Québec for about US$7.5-million.
The royalty consists of a 1 per cent net smelter return royalty on all metals and minerals produced from 81 mineral claims and one surveyed mining lease comprising the property, the company stated.