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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.

Alaris Equity Partners Income Trust (AD.UN-T) announced a $65-million bought deal offering of senior unsecured debentures. The trust said a syndicate of underwriters has agreed to purchase the debentures due March 31, 2027 at a price of $1,000 each. The debentures have an interest rate of 6.25 per cent per year, payable semi-annually.

The trust said it intends to use the net proceeds to partially repay debt under its senior debt facility.


Canaccord Genuity Group Inc. (CF-T) announced preliminary results for its third quarter ended Dec. 31, which it said are “consistent with management’s expectations.” The company said its was providing the preliminary results because the official results will come on Feb. 9, after the expiry of its substantial issuer bid for up to $100-million that is set expire on Jan. 27.

Excluding significant items, the company said it expects quarterly net income of about $75-million or 69 cents per share compared to $75.2-million 62 cents a year earlier. The expectation is for net income of 49 cents, according to S&P Capital IQ.

Including all expense items, it said net income will be about $56-million or 52 cents per share compared to $64.6-million or 54 cents a year ago. The expectation is for net income of 47 cents.

Revenue is expected to be $550-million up from $533-million a year ago and ahead of expectations of $467.4-million, according to S&P Capital IQ.

“Results for the quarter continued to benefit from a supportive environment for new issue activity in our core focus sectors and continued delivery on an active pipeline of M&A advisory engagements. Global wealth management businesses have continued to perform in accordance with expectations,” it stated


The Very Good Food Company Inc. (VERY-X) announced that it received notification from the Nasdaq on Jan. 11 that, for the previous 30 consecutive business days, the price of its common shares had closed below the minimum US$1 share requirement for continued listing.

“The Nasdaq notification has no immediate effect on the listing of the company’s shares,” the company stated, noting it has 180 calendar days, or until July 11 to regain compliance.

“We are confident in our strategy and believe that we will organically regain compliance with Nasdaq requirements as we leverage recently added capacity to further expand in U.S. retail,” stated CEO Mitchell Scott.

The company is also listed on the TSX Venture Exchange and said the notice doesn’t affect that listing.


First Hydrogen Corp. (FHYD-X) announced the appointment of Steve Gill as director of First Hydrogen UK Limited and as CEO of its automotive division. Previously, Mr. Gill was director of power engineering at Ford of Europe and board member of Ford Technologies Ltd. Mr. Gill will be overseeing the development of the company’s hydrogen-fuel-cell-powered light and medium commercial vehicle business, the company said.


Vanadium producer Largo Inc. (LFO-T) reported quarterly sales of 2,899 tonnes of V2O5 equivalent compared to 3,751 tonnes a year earlier.

The company said quarterly V2O5 production of 2,003 tonnes compared to 3,340 tonnes a year earlier, which was its historic record quarterly production. It said the fourth-quarter operational results were impacted by heavy rainfall at its Maracás Menchen Mine in Brazil in November and December.

The company said plans to invest approximately US$64-million on capital expenditures in 2022, of which approximately $2-million has been carried over from the 2021 capital expenditures budget.


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