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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.

Richards Packaging Income Fund (RPI.UN-T) reported revenue of $74.6-million in the first quarter, up from $72.9-million a year earlier, according to documents filed on Sedar.

Net income $6.1-million or 56 cents per share versus net income of $4.3-million or 39.5 cents a year earlier

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Africa Oil Corp. (AOI-T) says it has bought 145 million shares of Africa Energy Corp. (AFE-X) for 16 cents each. It now owns about 35 per cent of the company, up from 28.5 per cent. It said the common shares were acquired for investment purposes.

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Isodiol International Inc. (ISOL-CN) says it will be increasing the size of its previously announced private placement from $10-million to $18-million. It said the additional investment will be led by Anson Funds, a privately held alternative asset manager.

The proceeds will be used to fund the recently announced global expansion into China and the UK, the company said.

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Largo Resources Ltd. (LGO-T) reported net income of $45.8-million or 9 cents per share in the first quarter, compared to a loss of $9.7-million or 2 cents a year earlier. Revenue came in at $91.1-million up from $29.4-million a year ago.

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Innergex Renewable Energy Inc. (INE-T) says it has signed a 12-year power purchase agreement with an affiliate of Luminant, a Texas-based power company, for 300 MW of its Foard City wind project located in Foard County, Texas.

“With all of our ongoing development activities in the U.S., we are very pleased to have developed a new relationship with a strong offtaker such as Luminant,” said Michel Letellier, CEO of Innergex.

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Cargojet Inc. (CJT-T) reported revenue of $99.2-million in the first quarter, an increase of $12.1 million or 13.9 per cent from $87.1-millin a year earlier. Net earnings came in at $4.5-million or 33 cents per share up from $2.6-million or 24 cents year earlier. Analysts were expecting revenue of $94.6-million and earnings of 31 cents.

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Goodfood Market Corp. (FOOD-T) says it’s launching its national platform with the opening of a new production and distribution facility in Calgary, which serve western Canada.

“The launch of our national platform and the opening of our Calgary facility represent a significant step in the evolution of our fast-growing business. It fulfills a promise to our Western Canadian customers to bring the Goodfood experience closer to home,” said Jonathan Ferrari, CEO of Goodfood, in a release.

It also closed a $10-million public offering, proceeds of which it will use to grow into Western Canada.

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Tricon Capital Group Inc. (TCN-T) says it has made “significant changes” to its executive compensation program that are effective in 2018.

It said most important change is a revamp of its annual incentive plan. “The company will no longer determine its AIP pool as a fixed percentage of Adjusted EBITDA (for bonus purposes). Instead, going forward, the company will establish the AIP pool for executive participants based on a formulaic approach ...” it said in a release, where it provides details.

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Agellan Commercial Real Estate Investment Trust (ACR.UN-T) announced that a third-party purchaser has agreed to purchase its approximate 824,000 -square-foot office property and approximate 42,000-square-foot retail space and parking garage on Consumers Road in Toronto.

“This disposition is a significant advancement in the REIT’s previously announced strategy,” said Frank Camenzuli, CEO of the REIT. “The value created on this disposition is expected to benefit our unitholders through, among other things, the strategic redeployment of the net proceeds into U.S. industrial assets.”

The sale price for Parkway Place is approximately $256.3-million, the REIT stated. It also has a two-year vendor head lease with the purchaser related to certain vacant retail space at Parkway Place. Its obligation under the lease is approximately $2.8 million.

As a result of the sale of Parkway Place, the REIT said it expects to declare a special distribution to unitholders during 2018.

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