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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.

Westshore Terminals Investment Corp. (WTE-T) reported third-quarter revenue of $104.9-million up from $96.1-million a year earlier and ahead of expectations of $101.7-million.

Profit was $40.7-million or 61 cents per share versus $34.4-million or 50 cents a year earlier. The expectation was 56 cents per share.

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Cargojet Inc. (CJT-T) reported third-quarter revenue was $117.4-million, an increase of $3.3-million or 2.9 per cent versus the previous year. Analysts were expecting revenue of $123.2-million in the quarter. Adjusted EBITDA was $39.1-million, an increase of $7.6-million or 24 per cent versus the previous year.

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Century Casinos, Inc. (CNTY-Q) announced net operating revenue was US$52.9-million, an increase of 22 per cent from the same quarter last year. Earnings from operations were $3.5-million, an increase of 8 per cent from a year ago. Net earnings attributable to Century Casinos shareholders was US$500,000, a drop of 71 per cent year-over-year. Adjusted EBITDA was US$7.1 million, an increase of 12 per cent from last year. Earnings per share came in at 2 cents US, down 60 per cent from last year and compared to expectations of 9 cents according to S&P Capital IQ Consensus.

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Slate Office REIT (SOT.UN-T) reported third-quarter rental revenue of $52.5-million down 3.6 per cent from last year. Net income of $27.2-million compared to $17.7-million for the same period in the prior year. Funds from operations came in at $14.3-million or 19 cents per unit versus $15.1-million or 20 cents per unit a year ago.

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VersaBank (VB-T) announced it will increase its quarterly dividend to 2.5 cents per share from 2 cents as of Jan. 31, 2020 to shareholders of record at the close of business on Jan. 3, 2020. The company said it’s the third increase in two years.

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Flower One Holdings Inc. (FONE-C) announced that sales from its current operations are tracking strong “with a compound weekly growth rate of 15 per cent since the first official sale out its flagship greenhouse facility on August 5, 2019.” The company also said it’s projecting to reach positive cash flow during the first half of 2020.

Flower One's said it's pursuing "measured expansion" into California where it has started negotiations to purchase a 50-acre site, with an option to purchase up to an additional 150 acres adjacent to the initial site. "The target property is located in an approved cannabis cultivation and production zone," the company stated.

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TerrAscend Corp. (TER-C) announced that it expects preliminary unaudited revenue of $26-million in the third quarter, a nearly 50-per-cent increase compared to the second quarter and up from $1.8-million in Q3 last year. The expectations is for revenue of about $30.2-million, according to S&P Capital IQ Consensus. “Looking ahead, the company expects significantly higher revenue and continued improvement in adjusted EBITDA margin in the fourth quarter.”

The company has also withdrawn its revenue guidance of $141-million for 2019, citing "the slower development of the Canadian cannabis marketplace and the company's strategic decision to forego lower margin Canadian revenue in favor of larger and higher-margin U.S. markets." The company said it plans to release its complete third-quarter results on Nov. 20, 2019.

"Although we will miss our projections based on poor forecasting for our Canadian business, this should not detract from what is shaping up to be a tremendous year," said Jason Wild, chairman of TerrAscend.

TerrAscend also named Jason Ackerman, founder and former CEO of online grocer FreshDirect, as executive chairman of its board, effective immediately. President Matthew Johnson has departed the company.

The company also said it will “adopt a more measured approach” in Canada, saying that “it has become clear that the Canadian cannabis marketplace has not developed at the pace we and others anticipated, particularly related to the rollout of retail storefronts,” said Michael Nashat, CEO of TerrAscend.

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Abacus Health Products, Inc. (ABCS-C) announced the expansion of the distribution capabilities of its CBD CLINIC product line through an agreement with WBC Group, LLC., which the company said is one of the largest distributors of medical supplies to chiropractors, physical therapists, massage therapists and other health and wellness professionals in the United States.

Under the agreement, which is for a term of 39 months, WBC, through its wholly owned subsidiary MeyerDCTM, will market and distribute CBD CLINIC products to its customers, the company stated in a release.

“This agreement is a step-change for Abacus in terms of the number of chiropractors and health and wellness professionals that will now have access to CBD CLINIC products.” said Abacus CEO Perry Antelman in a release.

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Aphria Inc. (APHA-N; APHA-T) announced it has received a cultivation licence from Health Canada for Aphria Diamond, the company’s second Leamington, Ont. cannabis greenhouse facility. It said the decision will brings an additional 1.3 million square feet of production space with an annual growing capacity of 140,000 kg. Aphria Diamond is a 51-per-cent-owned subsidiary of Aphria

Combined with the company's Aphria One facility and its subsidiary Broken Coast Cannabis, Aphria said it now has more than 2.4 million square feet of cultivation space capable of reaching a total annualized production capacity of 255,000 kg.

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Copper Mountain Mining Corp. (CMMC-T) reported third-quarter revenue was $62.7-million compared to $60.7-million a year ago and below expectations of $74.3-million, according to S&P Capital IQ Consensus.

The revenue is based on the sale of 17 million pounds of copper, 6,400 ounces of gold, and 57,426 ounces of silver and on an average realized copper price of US$2.65 per pound, the company said. That compared to 17.6 million pounds of copper, 6,349 ounces of gold and 62,487 ounces of silver sold a year ago and an average realized copper price of US$2.77 per pound.

The company reported a net loss of $10.6-million or 5 cents per share compared to a net loss of $5.1-million or 2 cents a year ago.

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