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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.

Morneau Shepell Inc. (MSI-T) announced it has exited the benefits consulting business. It said HUB International (HUB), a global insurance broker providing property and casualty, life and health, employee benefits, and other products and services, has purchased the business for $70-million.

The company said the business being purchased by HUB represents approximately three per cent of its overall revenue “and has margins slightly above the aggregate margins of the overall business.”


Alaris Royalty Corp. (AD-T) announced the sale of Sandbox Acquisitions, LLC and Sandbox Advertising Limited Partnership to a third-party buyer. The aggregate payments to Alaris on closing, less the escrowed cash and earnout proceeds, equals total cash $28.5-million, the company said. “The Sandbox sale resulted in returns much lower than Alaris had initially anticipated, following a material reduction in the initial offer of the buyer,” the company stated.


RNC Minerals (RNX-T) announced that Barry Dahl has been appointed as chief financial officer. The company said Mr. Dahl has 30 years’ experience. Most recently, Mr. Dahl was the CFO of Excelsior Mining Corp. Former CFO Tim Hollaar, will assume the role of vice president, finance.


Clairvest Group Inc. (CVG-T) announced that it, together with Clairvest Equity Partners V, has entered the U.S. Dental industry by acquiring a 50-per-cent interest in The Childsmiles Group LLC, “to be equal partners with the Company’s founders in Childsmiles’ next phase of growth.”

“Over the past 2 years, we have reviewed dozens of opportunities in the dental services domain and have been deeply impressed with the company’s culture and ability to deliver high-quality dental services through a scalable and cost-effective model,” stated Michael Wagman, managing director of Clairvest Group.


Just Energy Group Inc. (JE-T) announced that it received two shareholder proposals for its 2020 annual general meeting of shareholders by the Robert L. Snyder Trust – 2005 Stream to increase the number of directors from six to eight, and to nominate six directors as candidates for election to the Just Energy board.

Just Energy said it "values constructive input from all of its stakeholders," and said it will "consider and evaluate the shareholder proposals."

Just Energy also said its previously announced strategic review "remains active" and it expects to announce the outcome of this review by June 30.


Wallbridge Mining Company Ltd. (WM-T) announced its plans to acquire Balmoral Resources Ltd. (BAR-T) in an all-stock transaction.

Under the terms of the transaction, each Balmoral share will be exchanged at a ratio of 0.71 of a Wallbridge common share. Existing Wallbridge and Balmoral shareholders will own approximately 82 per cent and 18 per cent of the company’s issued and outstanding shares, respectively.

The exchange ratio implies consideration of 62 cents per Balmoral common share based on the volume-weighted average price of Wallbridge common shares on the Toronto Stock Exchange for the 20 trading days ending Feb. 28, and implying an equity value of the Transaction equal to $110-million, the company stated.


Slate Office REIT (SOT.UN-T) reported rental revenue of $51.3-million in the fourth quarter, down from $59.1-million a year earlier. Net income was $19.8-million down from $27.9-million a year earlier. Funds from operations were $12.6-million or 17 cents per unit versus $13.6-million or 18 cents a year earlier. Analysts were expecting FFO of 19 cents and revenue of $48.5-million.


Equinox Gold Corp. (EQZ-T) reported fourth-quarter revenue of US$119-million up from US$30.2-million a year earlier. Its net loss from continuing operations was US$8.5-million or 8 cents per share versus a loss of US$25.9-million or 25 cents a year earlier. Its adjusted income was US$20.9-million versus a loss of US$4.2-million a year earlier.


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