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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.

Ensign Energy Services Inc. (ESI-T) has announced a takeover offer for Trinidad Drilling Ltd. (TDG-T) in a transaction it valued at about $947-million, including debt.

The oilfield services company is offering $1.68 a share in cash for each Trinidad share.

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It estimated Trinidad’s outstanding net debt at $477-million as of June 30.

Trinidad completed a strategic review on Aug. 1 during which it reviewed a number of alternatives, but did not strike a deal. Its shares closed at $1.51 on the Toronto Stock Exchange on Friday.

Ensign, which owns about a 9.8 per cent stake in the company, says it approached Trinidad about a possible deal after the review ended, but the company’s board wanted the talks subject to a confidentiality agreement which included a lengthy standstill provision.

Ensign says it did not believe that such a provision was in the best interests of shareholders.

-The Canadian Press

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Cargojet Inc. (CJT-T) reported total revenues were $109-million in the second quarter, an increase of $20.8-million or 23.6 per cent versus the previous year and ahead of expectations of $103.9-million. Adjusted EBITDA was $28.8-million, an increase of $4.2-million or 17.1 per cent versus the previous year.

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Clearwater Seafoods Inc. (CLR-T) is poised to benefit from Ottawa’s decision to cancel plans to issue a controversial clam fishing licence to a First Nations company with ties to the Liberal party. The Department of Fisheries and Oceans said in a news release the process to issue a fourth licence to harvest arctic surf clam off the coast of Newfoundland and Labrador and Nova Scotia was cancelled in early July, and that it won’t be issued this year at all, The Canadian Press reported. That multimillion-dollar licence was supposed to go to the Five Nations Clam Co. The deal, which would have ended a 19-year monopoly on the Arctic clam fishery held by Clearwater Seafoods, was supposed to offer 25 per cent of the catch to local Indigenous communities as a way of promoting reconciliation and economic growth,

- The Globe and Mail and The Canadian Press

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Badger Daylighting Ltd. (BAD-T), which is the target of a short seller, reported adjusted EBITDA of $38.5-million or $1.04 per share for the second quarter of 2018, a 20-per-cent increase over the prior year comparative quarter.

Revenue for the second quarter came in at $147.6 million, a 19 per cent increase over last year and ahead of expectations of $136.6-million.

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Net profit of $10.6 million or 29 cents per share compared to net profit of $14.7-million or 40 cents per share in the prior-year comparative quarter. "Net profit was positively impacted by higher Adjusted EBITDA, offset by an $8.5-million or $0.23 per share increase in share-based compensation expense due to an increase in the market value of Badger’s shares during the second quarter and higher income tax expense," the company said.

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Sprott Inc. (SII-T) reported total net revenues were $23.5-million in the second quarter, which was flat compared to the same quarter last year and in line with expectations. Net income was $5.9-million or 2 cents per share, an increase of $9.5 million from the quarter ended June 30, 2017.

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First Majestic Silver Corp. (AG-N; FR-T) reported second-quarter revenues of US$79.7-million, up from US$60.1-million a year ago. Its net loss was US$40-million versus a profit of US$1.4-million a year ago. Its adjusted net loss of US$11.8-million or 7 cents per share compared to a loss of 2 cents a year ago.

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Boardwalk Real Estate Investment Trust (BEI.UN-T) reported total rental revenue of $108.4-million in the second quarter up from $105.6-million a year ago and ahead of expectations of $107.5-million. Profit was $56.8-million down from $63.4-million a year ago. Funds from operations came in at $30.6-million or $27.6-million or 60 cents per unit versus $27.6-million or 54 cents a year ago. Analysts were expecting FFO of 58 cents per unit.

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Crius Energy Trust (KWH.UN-T) reported revenue of $269.1-million in the second quarter, an increase from $180.2-million in the second quarter of 2017 and ahead of expectations of $256.4-million. Net income of $5.3-million compared to a net loss of $14.6-million in the second quarter of 2017.

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Chesswood Group Limited (CHW-T) reported net income of $5.6-million or 31 cents per share in the second quarter versus $3.7-million or 21 cents a year earlier.

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Intertape Polymer Group Inc. (ITP-T) says second-quarter revenue increased 18.5 per cent to US$249.1 million “primarily due to an increase in average selling price, including the impact of product mix, and additional revenue from the Cantech Acquisition and the Airtrax Acquisition.” Analysts were expecting revenue of US$240-million.

Net earnings attributable to shareholders came in at US$15.1-million versus US$10.1-million a year ago.

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Alcanna Inc. (CLIQ-T), formerly Liquor Stores NA Ltd., reported consolidated sales of $161.1-million in the second quarter versus $162.4-million a year earlier. Net earnings were $2-million or 5 cents per share versus $4.3-million or 15 cents a year ago

Analysts were expecting revenue of $162.8-million and earnings of 10 cents per share.

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Lundin Gold Inc. (LUG-T) reported net income of US$19.7-million or 9 cents per share in the second quarter versus US$785,000 or a penny per share a year earlier. Its net income in the second quarter of 2018 is “mainly due to the revaluation of the company’s long-term debt.” The company said it recorded a derivative gain from the fair value revaluation of its long-term debt of US$18.8-million compared to a derivative gain of US$4.4-million recognized in the second quarter of 2017.

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Senvest Capital Inc. (SEC-T) reported a net income attributable to common shareholders of $19.3-million or $7.10 per share for the second quarter compared to a net income attributable to common shareholders of $42.7-million or $15.40 per share for the same period in 2017.

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MORE TO COME

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