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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.

Cineplex Inc. (CGX-T) announced that it didn’t receive a superior proposal to the $34-per-share offer from Cineworld Group plc (CINE-L) during the “go-shop” period.

During the seven-week go-shop period, Cineplex said its financial advisor, Scotiabank, contacted 52 potential buyers. It said three of the potential buyers entered into confidentiality agreements and were granted access to non-public information about Cineplex, but the company said it didn't receive a superior proposal.

See also: U.K.'s Cineworld acquires Cineplex in $2-2-billion deal

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Aecon Group Inc. (ARE-T) announced that it has acquired Voltage Power, an electrical transmission and substation contractor headquartered in Winnipeg for a base price of $30-million, with additional earnout payments possible based on achieving minimum EBITDA targets over the next three years.

“The base purchase price implies a transaction multiple of approximately 3.75x Voltage Power’s average EBITDA over the past three years and will be fully financed using Aecon’s available cash,” the company stated.

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People Corp. (PEO-X) announced the acquisition of Robin Veilleux Assurances et Rentes Collectives Inc., a Quebec City-based company specializing in providing group benefits consulting services for companies based in Quebec. Terms of the transaction weren’t disclosed.

“With over 20 years of history in the Quebec market, RVARC is a well-established group benefits consulting firm with a solid base of long-standing clients and active relationships with a large network of third-party brokers," stated Laurie Goldberg, CEO of People Corp.

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GoGold Resources Inc. (GGD-T) reported revenue of US$9.3-million in the fourth quarter, an increase from US$3.9-million in the year-ago period.

Net income of US$535,000 or US$0.003 per share compared to net income of US$8.2-milion or US$0.47 a year ago.

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Taseko Mines Ltd. (TKO-T) announced that it has acquired copper put options to protect a minimum price for its 75-per-cent share of production from Gibraltar Mine over the next three months. The put options have a strike price of US$2.60 per pound and cover 22.5 million pounds of copper over February, March and April, and were acquired in mid-January “at a cost of less than two cents per pound,” the company stated.

“Our strategy has been consistent since 2009; acquire out-of-the-money put options on an opportunistic basis to protect a minimum copper price for a portion of our production,” stated Stuart McDonald, president of Taseko. “This strategy has served us well in the past and protects our cash flow against short-term copper price volatility like we’ve seen over the last two weeks. While the medium to long-term view on copper remains bullish, a conservative approach to managing price risk on the downside is an important aspect of running the company.”

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:00pm EDT.

SymbolName% changeLast
ARE-T
Aecon Group Inc
+0.41%17.01
CGX-T
Cineplex Inc
0%7.37
TKO-T
Taseko Mines Ltd
-2.68%2.91
GGD-T
Gogold Resources Inc
+4.24%1.23

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