Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Total vehicles sold were 13,735, a decrease from 15,743 a year earlier.
Its net loss for the period was $46.9-million or $1.70 per share versus a loss of $2.7-million or 10 cents a year ago.
“These changes amend and waive certain terms and conditions of the credit facilities, which will provide meaningful financial covenant relief and greater flexibility on the timeline to complete the Geismar 3 project,” the company stated. “The financial covenant relief is effective upon Methanex’s election and will provide, among other things, more flexibility in the calculation of the minimum EBITDA to interest coverage ratio through June 30, 2021 and an increase of the maximum debt to capitalization ratio through June 30, 2023.”
Guyana Goldfields Inc. (GUY-T) announced it has received a takeover offer from a foreign-based multinational mining company which its board has unanimously determined to be a “superior proposal” than a previous bid by Silvercorp Metals Inc. (SVM-T).
The company said the new offer is for $1.85 per share in cash, valuing the company at $323-million. The new bidder has also agreed to provide the company with a US$30-million secured loan facility to finance ongoing operations of the Aurora gold mine and to fund other liquidity needs.
Silvercorp has five business days to match the offer, the company says.
Sienna Senior Living Inc. (SIA-T) announced late Wednesday “a series of sweeping steps” to improve conditions at its long-term care residences, including an immediate company-wide review, in the aftermath of a “disturbing” Canadian Armed Forces (CAF) report which included one of its properties.
The company said the CAF report "has shaken" its team and that: "it is no secret that the challenges long-term care residences have been facing in dealing with the COVID-19 pandemic have been extraordinary and have brought to light the many short-comings that exist in our sector."
The company also said the report was written "during the peak of a crisis situation" and "does not reflect the current reality at our Altamont Care Community or other Sienna residences."
The company said it has hired Paul Boniferro, former deputy attorney general of Ontario, to conduct an "immediate, company-wide review into the policies, practices and culture at Sienna. This review will help us identify how best to ensure that our expectations of a respectful, safe and inclusive environment are met at every residence, at all hours of the day."
It also said it would hire a senior health and long-term care expert to act as senior advisor to the company and has introduced "enhanced frontline education protocols focused on quality and safety to ensure all team members understand and provide the quality of care our residents deserve," among other measures.
Stingray Group Inc. (RAY.A-T; RAY.B-T) reported revenues came in at $68.4-million in its fourth-quarter ended Mar. 31, down from $72.7-million a year ago, “primarily due to the initial impact of the COVID-19 pandemic on radio revenues.” Analysts were expecting revenue of $73.1-million
Its net loss was $8.5-million or 11 cents per share compared to net income of $3.9-million or 6 cents per share a year earlier.
Adjusted net income was $10.1-million or 13 cents per share compared to $14.7-million or 21 cents a year ago. Analysts were expecting an adjusted EPS of 17 cents, according to S&P Capital IQ.
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