Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Taseko Mines Limited (TKO-T) reported revenues of $62.1-million in the first quarter, down from $70.3-million a year earlier.
Its net loss was $49-million or 20 cents per share versus a loss of $7.9-million or 3 cents a year earlier. Its adjusted EPS came in at a loss of 9 cents versus a loss of 6 cents. Analysts were expected an adjusted EPS loss of 8 cents.
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Exco Technologies Limited (XTC-T) reported sales of $120.2-million for its second quarter ended March 31 compared to $123.5 million.
Net income was $9.5-million or 24 cents per share versus a profit of $8.6-million or 22 cents per share a year ago. Analysts were expecting earnings of 20 cents.
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Fennec Pharmaceuticals Inc. (FENC-Q; FRX-T) announced plans to offer its common shares in an underwritten public offering. Cantor Fitzgerald & Co. is acting as the sole book-running manager for the proposed offering, the company stated. Wedbush PacGrow is acting as the co-manager.
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Fire & Flower Holdings Corp. (FAF-T) reported revenue of $16.8-million for the fourth quarter ended Feb. 1 compared to $10.5-million for the same quarter a year ago. Analysts were expecting revenue of $14.8-million.
Its net loss was $22.3-million or 16 cents per share versus a loss of $8.6-million or 11 cents a year earlier.
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Goodfood Market Corp. (FOOD-T) announced it has signed a lease for its first fulfillment centre in the Greater Toronto Area, “further expanding its countrywide operating footprint.”
The company said fulfilment of orders at the facility will begin before the end of May 2020 and will create over 300 new jobs.
“In the wake of accelerating penetration of online grocery in Canada resulting from the current pandemic, we are thrilled to have found a facility to service our current and future members in the GTA and Southern Ontario. We are excited to launch this new 42,000 square feet facility, our first fulfillment centre in Toronto, to help grow our capacity and get closer to our customers while providing employment to over 300 people,” said Neil Cuggy, president of Goodfood. “Our previously announced plans to build out a larger fulfillment centre in Toronto also remain on track for 2021."
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Precision Drilling Corp. (PD-T) reported first-quarter revenue of $379-million, a decrease of 13 per cent compared with the first quarter of 2019.
Its net loss of $5-million or 2 cents per share compared to net earnings of $25-million or 8 cents in the comparable 2019 period.
Analysts were expecting revenue of $376-million and a loss of 3 cents per share.
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IMV Inc. (IMV-Q; IMV-T) announced its intention to complete a private placement of 7,797,203 units for $2.86 each for aggregate gross proceeds of approximately $22.3-million.
Each unit will consist of one common share of the company and 0.35 of one common share purchase warrant. Each warrant will have an exercise price of $3.72 and will be exercisable until 24 months after its issuance, the company said.
It said the non-brokered private placement is being co-led by Fonds de Solidarité FTQ, an existing investor, and Lumira Ventures, a new investor in the company, along with participation by Altium Capital, also a new investor in IMV and including other institutional investors.
The company said it intends to use the net proceeds for the clinical development of its lead candidate, DPX-Survivac, currently being assessed in advanced ovarian cancer, as well as in multiple clinical studies in combination with Merck’s Keytruda.
It said the balance of the net proceeds will be used for general corporate purposes, including funding research and development, preclinical and clinical expenses, and corporate costs.
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