Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Hudson’s Bay Co. (HBC-T) is the latest Canadian company to be hit with a data breach, saying that customer payment card information may have been stolen from shoppers at certain Saks Fifth Avenue, Saks Off Fifth and Lord & Taylor stores in North America.
A spokesperson for retailer would not comment on whether any specific Canadian locations were affected, but did say there is no indication the breach affects any of HBC’s other digital platforms, Hudson’s Bay stores or Home Outfitters locations.
HBC released little information on the breach itself on Sunday, but a New York-based cybersecurity firm said it had analyzed the available data and found that information from five-million credit cards had been compromised.
Gemini Advisory LLC said in a report that the information was stolen from 83 Saks Fifth Avenue or Saks Off Fifth stores, and from all Lord & Taylor locations.
The firm found that three Canadian Saks locations were exposed to the breach: Sherway Gardens in Toronto, Bramalea City Centre in Brampton, Ont. and Pickering Town Centre in Pickering, Ont.
- The Canadian Press
Transcontinental Inc (TCL.A-T, TCL.B-T) said on Monday it would buy the U.S. unit of plastics packager Coveris Holdings S.A for $1.7-billion as the Canadian printing company shifts its focus to a lucrative flexible packaging business.
As part of the deal, Transcontinental will take control of privately held Coveris Americas’s 21 production facilities that make rollstock, bags and pouches, shrink films and labels, among others.
The plastics and packaging industry has been consolidating fast to keep up with the rising demand from e-commerce and automotive sectors.
Endo International plc (ENDP-Q) says it has agreed to extend a temporary stay of its litigation against the U.S. Food and Drug Administration (FDA), filed in October, citing draft guidance on its issue and further discussions among the parties’ counsel.
Endo said it has agreed to extend the temporary litigation stay for an additional 180 days while FDA works toward implementation of the new compounding policy.
Diversified Royalty Corp. (DIV-T) said it generated $6.9-million of royalty revenue and management fees in the fourth quarter compared to $6.4-million a year earlier and slightly ahead of expectations of $6.7-million.
Net income was $3.5-million, compared to net income of $5.3-million in the prior year. “The decrease in net income was primarily due to higher income tax expense, operating expenses and interest expense in the current period,” the company stated. Analysts were expecting net income of $3.6-million in the most recent quarter
Westaim Corp (WED-X) recorded a profit of $6.8-million or 5 cents per share for the three months ended Dec. 31, compared to a net loss of $900,000 or a penny per share for the same period a year earlier. Revenue came in at $1.2-million versus $700,000 a year earlier.
Starlight U.S. Multi-Family (No. 5) Core Fund (STUS.U-X) says it has purchased a 320-suite apartment community in Charlotte, North Carolina for US$59.1-million. It said the purchase price was satisfied by cash on hand from the previously announced disposition of Greenhaven Apartments and The Villages at Sunset Ridge, and with proceeds from the fund’s revolving credit facility.
Boralex Inc. (BLX-T) says it closed a joint investment of $200-million in the corporation through a 10-year unsecured subordinated loan made by a subsidiary of Caisse de dépôt et placement du Québec. CDPQ is investing $170-million, which is added an investment of $30-million by Fonds de solidarité FTQ, the company stated.
Boralex also said its revolving credit facility has been amended to increase its financial flexibility.
“The extension of our credit agreement and enhancement of our financial flexibility is great timing as Boralex continues on its growth path to achieve the target of 2,000 MW by the end of 2020,” stated CEO Patrick Lemaire.
Its net loss was $5.9-million or 4 cents per diluted share compared to a loss of $1-million or a penny per share a year earlier.
NeuLion, Inc. (NLN-T) reported fourth-quarter revenue of $25.8-million compared to $25.5-million a year earlier and above expectations of $24.7-million.
Its net loss was $22-million versus a loss of $344,000 a year earlier.
NeuLion recently said it’s being taken over by private sports and entertainment company Endeavor in an all-cash deal valued at about US$250-million.
Senvest Capital (SEC-T) reported revenue of $2.2-million in the fourth quarter compared to $64.6-million a year earlier. Net income was $491,000 or 29 cents per share versus $26.9-million or $9.67 a year earlier, according to documents filed on Sedar.
“The company has had wide swings in profitability from quarter to quarter in the past two years,” it stated in its MD&A document. “These wide swings are primarily due to the large quarterly mark to market adjustments in the company’s portfolio of public holdings. However, we expect the volatility and choppiness of the markets to result in wide profit swings from year to year and from quarter to quarter.”
American Hotel Income Properties REIT LP (HOT-UN-T) says Aimbridge Hospitality, a U.S.-based hotel management company, has an agreement with One Lodging Management to assume the hotel management responsibilities for all of AHIP’s 115 hotels.
“This is a very positive strategic development for AHIP. As our portfolio has grown, and most recently with our major acquisitions in 2017, our need to partner with a leading external hotel management company that brings first-class experience and deep bench strength across the United States has become increasingly clear,” stated Ian McAuley, president of AHIP in a release.
Village Farms International, Inc. (VFF-T) reported sales of US$36.8-million in the fourth quarter versus US$37.3-million a year ago. Its net loss was US$607,000 or 2 cents per share versus income of US$453,000 or a penny per share a year earlier. EBITDA (earnings before interest, taxes, depreciation and amortization) was $2.6-million up from $3.5-million a year earlier.
The company also said it plans to increase production at its Pure Sunfarms’ facility by 30 per cent in 2019, from the current target of approximately 35,000 to 40,000 kg of dried cannabis.
Akumin Inc. (AKU-U-T), an outpatient diagnostic imaging service company, reported sales of $37.6-million for the three months ended Dec. 31 compared to $15.2-million for the same quarter a year earlier.
Its net income was $2.6-million or 6 cents per share versus a loss of $342,000 or a penny per share a year earlier.
Newstrike Resources Ltd. (HIP-X) says its Up Cannabis Inc. subsidiary has received a producer’s licence to cultivate at its greenhouse site in the Niagara region.
“The receipt of this cultivation licence marks the achievement of another critical milestone and showcases the ability of our production team to move from concept to cultivation effectively and quickly”, stated Jay Wilgar, Newstrike’s CEO, in a release.
Its net loss was $4-million or 4 cents per share, which was wider than a loss of $880,424 or a penny per share a year ago.
Revenue increased to $20.7-million compared to $8.9-million a year earlier.
Funds from operations were $5.4-million compared to $2.3-million in the fourth quarter of 2016.
Goeasy Ltd. (GSY-T) says Jason Mullins, executive vice president and chief operating officer, will succeed David Ingram as president and CEO in January 2019. Mr. Ingram, who has been the company’s president and CEO for 18 years, will move into the role of executive chairman. Effective immediately, Mr. Mullins will begin the leadership transition by assuming the role of president and chief operating officer for the balance of 2018, the company stated.
Labrador Iron Ore Royalty Corp. (LIF-T) says it has been advised that the USW Local 9344 (Sept-Îles) has rejected the company’s offer and voted in favour of a strike. “Given statutory delays, Local 9344 will not have the right to actually strike before April 10 at the earliest,” the company stated. ” IOC is having ongoing discussions with the union regarding the maintenance, during a strike, of essential services (mainly freight and passenger service to Schefferville and Labrador City) for which some qualified unionized employees are required.”