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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.

Interfor Corp. (IFP-T) announced it will reduce its capital expenditures in 2020 and 2021 by a total of approximately $140-million. With the reduction, the company said its 2020 capital expenditures are expected to be approximately $100-million and 2021 capital expenditures are expected to be “substantially below” $100-million. Interfor said it will re-evaluate its capital expenditures “as market conditions continue to evolve.”

It also announced it will temporarily reduce production across its operations in British Columbia, the Pacific Northwest and the U.S. South, "in order to align production with the prevailing market." The company said the curtailments are expected to reduce production by approximately 35 million board feet per week, which represents approximately 60 per cent of its production capacity. "These curtailments will initially be for a two-week period and will be re-evaluated regularly," it stated

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BMTC Group Inc. (GBT-T) announced that it will be temporarily closing its sales network, namely the Ameublements Tanguay banner in the Quebec City area and the Brault & Martineau and EconoMax banners in the Montreal area, due to the COVID-19 pandemic.

The company said the decision means it will have to temporarily lay off approximately 75 per cent of its personnel from its retail stores.

**

Diversified Royalty Corp. (DIV-T) announced that Mr. Mikes Restaurants Corp. has closed all of its dining rooms and bars across Canada on a temporary basis, due to the coronavirus, but will continue to provide take-out and delivery offerings, where possible.

"The duration of the temporary dining room and bar closures is not yet known and will continue until further notice," the company stated. "By closing its dining rooms and bars to guests, Mr. Mikes is doing its part to help 'flatten the curve' through the reduction of group gatherings and increased social distancing consistent with public health authority protocols while also supporting Canadians by continuing to provide take-out and delivery offerings, where possible, during these challenging times."

**

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McEwen Mining Inc. (MUX-N; MUX-T) announced that Chris Stewart has left his position as president and chief operating officer. “His responsibilities will be assigned to other members of the management team,” the company stated.

**

Baytex Energy Corp. (BTE-T; BET-N) announced it’s suspending its drilling operations in Canada as well as a 50-per-cent reduction to its 2020 capital budget to $260-million to $290-million, from the original $500-million to $575-million.

“As an industry, we are facing an unprecedented challenge due to the significant degradation and volatility in global crude oil prices. During this time, our priority is to preserve financial liquidity," stated CEO Ed LaFehr.

The company is also shutting-in approximately 3,500 boe/d of low or negative margin heavy oil production "in order to optimize the value of our resource base and maximize our adjusted funds flow."

The result is a revised production guidance range for 2020 to 85,000 to 89,000 boe/d, from 93,000 to 97,000 boe/d.

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Village Farms International, Inc. (VFF-T; VFF-Q) announced a $10-million underwritten public offering of common shares. The company said sole underwriter Beacon Securities Ltd will purchase 3,125,000 common shares at $3.20 each. The company intends to use the net proceeds of the offering for working capital and general corporate purposes.

**

Fiera Capital Corp. (FSZ-T) reported fourth-quarter revenue of $204.5-million up from $157-million a year earlier. Analysts were expecting revenue of $195.2-million.

Net earnings of $5.3-million or 3 cents per share compared to a net loss of $1.6-million or 2 cents a year earlier.

**

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Paramount Resources Ltd. (POU-T) has revised its 2020 capital guidance to a range of $185-million to $250-million, a reduction of approximately 46 per cent at mid-point from the originally planned range of $350-million to $450-million due to “the recent significant decline in global energy prices.”

**

Extendicare Inc. (EXE-T) announced it’s suspending its dividend reinvestment plan until further notice.

“We have chosen to suspend our DRIP as we do not believe it is in the best interests of the Company nor its shareholders to issue shares at current prices, particularly given our strong balance sheet, ample liquidity and the reality that over 90 per cent of our business is government-funded," stated CEO Michael Guerriere.

**

AirBoss of America Corp. (BOS-T) said it may need to suspend production of automotive components at its engineered products business in Auburn Hills, MI in light of the recent announcements by North America’s 'Big Three; automakers to temporarily suspend or slow down production until at least March 30.

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"In connection with any suspension or slow-down of automotive parts production at Auburn Hills, MI, the company will review and implement all appropriate cost containment measures as it attempts to minimize the effects of net sale losses, which are currently estimated to be up to US$2.5 million per week in the event of a full closure," it stated.

The company said its rubber solutions business has continued to operate "with capacity utilization and output at similar levels to those seen in prior months" but that it has recently received feedback from customers in the tire sector "that suggest a potential reduction in requested volumes in the immediate near-term and is therefore monitoring the situation closely. Prolonged continuation of the COVID-19 pandemic may result in further reductions in volume."

The company said it expects to see the impact of any operational changes in its second-quarter results.

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