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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news

Resolute Forest Products Inc. (RFP-T) announced a four-year labour agreement with the Unifor union, representing most of the hourly employees in the company’s Canadian pulp and paper operations. The agreement-in-principle is subject to member ratification. The collective agreement covers approximately 700 employees, the company stated.


Nova Resources Corp. (NVO-T) reported first-quarter revenue of $31.9-million from the sale of 13,364 ounces of gold at an average realized price of US$1,887 per ounce.

That compared to revenue of $7.7-million from the sale of 3,497 ounces of gold at an average realized price of US$1,742 per ounce.

The company reported a net loss of $12.9-million or 5 cents per share in the quarter versus a profit of $1.1-million a year ago.


Taiga Motors Corp. (TAIG-T) reported initial revenue of $141,461 during the first quarter of 2022. The company said its pre-order book increased 22 per cent to 2,886 units as of March 31, compared to 2,356 units as of December 31.

Its net loss for the period was $9.1-million compared to $6.3-million in the first quarter of 2021.


Equinox Gold Corp. (EQX-T) announced it has temporarily suspended operations at its RDM mine in Brazil. It said the delay is related to the delay of permits for the scheduled tailings storage facility raise.

“Discussions with regulatory authorities are ongoing and the TSF raise contractor is ready to mobilize and commence work,” the company stated, adding that it expects full operations could restart “as soon as two months from the receipt of regulatory approval,” which is expected during the current second quarter.

The company withdrew its 2022 production guidance for the RDM Mine, forecast at 70,000 to 80,000 ounces of gold or approximately 11 per cent of consolidated production using the mid-point of Equinox Gold’s 2022 production guidance of 625,000 to 710,000 ounces of gold.


Mind Medicine (MindMed) Inc. (MMED-NE) reported a net loss of $18.5-million compared to $13.8-million for the same period in 2021.

MindMed said its cash balance was $120.5-million as of March 31, compared to $133.5-million as of Dec. 31.


Voyager Digital Ltd. (VOYG-T) announced a common share private placement of about US$60-million “anchored by leading crypto companies.”

The company said the financing is for a price of US$2.34 per share and was led by Alameda Research with participation by, among others, Galaxy Digital, Blockdaemon, and Digital Currency Group.

The company said it intends to use the net proceeds from the offering for general corporate purposes.


Nouveau Monde Graphite Inc. (NOU-X) and Mason Graphite Inc. (LLG-X) announced an investment agreement toward the development and operation of Mason Graphite’s Lac Guéret property in Quebec.

NMG will make a concurrent equity investment in Mason Graphite of up to $5-million payable in two instalments as part of the agreement that includes the formation of a joint venture. The other conditions can be found in the release here.


K92 Mining Inc. (KNT-T) reported first-quarter revenue of US$52.4-million, which it said was an increase of 78 per cent from a year ago. Net income for the first quarter came in at US$14.1-million or 6 US cents per share.


Bitfarms Ltd. (BITF-T) reported first-quarter revenue of US$40.3-million, which was in line with expectations of US$39.6-million and up from US$28.4-million a year ago.

Net income of US$4.5-million or 2 US cents per share compared to a net loss of $7.6-million or 6 US cents per share a year ago.


Farmers Edge Inc. (FDGE-T) announced the appointment of the former president of Amazon Canada Fulfillment Services Vibhore Arora as CEO, effective June 6.


Thunderbird Entertainment Group Inc. (TBRD-X) reported that its third-quarter revenue decreased 2 per cent to $36.9-million as compared to $37.7-million a year ago. The expectation was for revenue of $34.2-million according to S&P Capital IQ.

Adjusted EBITDA for the quarter ended March 31 decreased 14 per cent to $6.4-million, the company stated. Net income of $2.1-million compared to net income of $3.6-million a year ago.


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