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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.

Onex Corp. (ONEX-T) is buying WestJet Airlines Ltd. (WJA-T) in a deal valued at $5-billion, including debt. Under the agreement, Onex will pay $31 per share for WestJet, which will continue to operate as a privately held company. WestJet shares closed at $18.52 on Friday.

“WestJet is one of Canada’s strongest brands and we have tremendous respect for the business that Clive Beddoe and all WestJetters have built over the years. WestJet is renowned internationally for its unparalleled guest experience and employee culture,” said Tawfiq Popatia, a managing director at Onex, in a release.

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Magellan Aerospace Corp. (MAL-T) reported revenue in the first quarter of $269.9-million, an increase from $244.6-million for the same period last year and ahead of expectations of $254.8-million. Net income was $20.4-million or 35 cents per share compared to net income of $17.5-million or 30 cents for the first quarter of 2018. Analysts were expecting EPS to come in at 38 cents in the latest quarter.

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Lundin Gold Inc. (LUG-T) reported a net loss of US$7.7-million or 4 US cents per share in the first quarter versus a loss of US$25.6-million or 20 US cents a year earlier. Analysts were expecting a loss of 5 US cents in the latest quarter.

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Crius Energy Trust (KWH.UN-T) reported revenue of US$296.4-million in the first quarter, down from US$321.8-million in the first quarter of 2018. Its net loss of US$26.4-million compared to net income of US$4.3-million in the first quarter of 2018. Adjusted EBITDA of US$19.8-million was similar to the same quarter last year, the trust stated.

Crius Energy said Vistra Energy Corp (VST-N), which has a deal to take over Cruis, “are awaiting approval from the Federal Energy Regulatory Commission in order to consummate the Vistra transaction.”

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HIVE Blockchain Technologies Ltd. (HIVE-X) announced a “non-binding letter of intent and heads of terms and a share swap agreement” with London-listed Argo Blockchain PLC “to explore a proposed strategic partnership to create the world’s largest business-to-business mining service provider aimed at large-scale enterprise and institutional customers.”

The company said the proposed strategic partnership "will enable all miners to benefit from the combination of the two groups' existing mining capacity, including part of HIVE's equivalent mining capacity of 45 megawatts and Argo's 10.5MW capacity and presents a significant opportunity to service strategic institutional clients that require Mining-as-a-Service (MaaS) infrastructure to mine virgin coins from safe jurisdictions like North America and Europe."

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RNC Minerals (RNX-T) announced that it has exercised the previously-announced purchase option to acquire the Higginsville Gold Operation from Westgold Resources Limited. On closing, RNC said will pay Westgold $25-million (Australian) in cash and $21-million (Australian) in RNC shares (satisfied by the issuance of 49.8 million RNC shares), for total consideration of $50-million (Australian). RNC said it expects to finance the cash component of the purchase price with cash on hand and additional non-dilutive capital.

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Eldorado Gold Corp. (ELD-T) announced it intends to offer up to US$300-million aggregate principal amount of senior secured second lien notes due 2024. “The interest rate and other terms of the notes will be determined based on prevailing market conditions,” the company stated. Eldorado said it intends to use the net proceeds, together with term loan proceeds incurred under a new senior secured credit facility, also announced Monday, to redeem its US$600-million senior notes due December 2020 and to pay fees and expenses in connection with the financing.

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Acreage Holdings, Inc. (ACRG.U-C) announced it has entered into a letter of intent with GreenAcreage Real Estate Corp., a newly formed REIT (GARE), negotiated at arm’s length, under which GARE would purchase and leaseback to Acreage cannabis related real estate assets. “GARE is externally managed by GreenAcreage Management LLC, an entity in which Acreage holds a 20-per-cent interest and in which its CEO has invested,” the company stated.

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Maxar Technologies Inc. (MAXR-N; MAXR-T) announced today its board has adopted a tax benefit preservation plan “to help preserve the value of its net operating losses and other tax attributes.” Maxar had estimated its cumulative U.S. federal net operating loss carryforwards and federal R&D tax credit carryforwards to be approximately $890 million and $77 million, respectively, as of Dec. 31, 2018, which the company said can be utilized in certain circumstances to reduce future U.S. corporate income tax liabilities.

"The tax benefit preservation plan was adopted to protect an important Maxar asset that may have meaningful value to all Maxar stockholders," the company stated. "These tax benefits can include the offset of tax liability arising from future taxable earnings or gains."

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Ensign Energy Services (ESI-T) reported revenue for the three months ended March 31 was $445.3-million, an increase of 72 per cent from revenue of $258.5-million a year earlier. Analysts were expecting revenue to comes in at $469.2-million. Its net loss attributed to shareholders was $22.3-million or 14 cents per share compared to net loss attributed to shareholders of $26.7-million or 17 cents per share a year earlier. Analysts were expecting a loss of 34 cents. Funds flow from operations increased 60 per cent to $86.3-million, the company stated.

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MAV Beauty Brands Inc. (MAV-T) reported revenue of $24.1-million for the first quarter, up 51 per cent over the same period last year and roughly in line with expectations of $24.5-million. Its net income of $1.1-million or 3 cents per share was up from a net loss of $1.9-million or 18 cents a year ago.

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