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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.

AutoCanada Inc. (ACQ-T) reported record fourth quarter of just under $1.2-billion compared to $876.1- million in the prior year. Total vehicles1 sold were 20,296, an increase of 19.6 per cent. Used retail vehicles sold increased by 4,504 or 61 per cent.

Net income for the period was $69.4-million or $2.38 per share compared to $24.3-million or 81 cents in the prior year.The expectation was for revenue of $1.1-billion and earnings of 79 cents per share.


Frontera Energy Corp. (FEC-T) reported sales of US$249.5-million up from US$155.3-million a year earlier.

Net income of US$629.4-million or US$6.40 per share versus net income of US$48.6-million or 48 cents a year earlier.


Cannabis company Tilray Brands Inc. (TLRY-T) has signed a deal to take a stake in rival Hexo Corp. (HEXO-T) and launch a strategic partnership with the company.

Under the agreement, Tilray Brands will acquire up to US$211-million of senior secured convertible notes that were issued by Hexo and are held by funds affiliated with HT Investments MA LLC.

The notes will be amended to allow Tilray Brands to exercise conversion rights at a price of 90 cents Canadian per Hexo share.

The conversion price implies that Tilray Brands would have the right to convert the notes into a 37-per-cent stake in Hexo.

The deal will also see Tilray Brands and Hexo create a joint venture that will provide shared services to both companies.

The companies estimated that total savings, which will be shared equally, are expected to be up to $50-million within two years.

-The Canadian Press


High Tide Inc. (HITI-X) announced it’s buying four operating retail cannabis stores in Ontario under the name Crossroads Cannabis for $2.5-million.


CloudMD Software & Services Inc. (DOC-X) announced a newly formed public sector division and recent customer contracts across North America that it says will provide “meaningful revenue diversification” and “opportunities to accelerate technology and service integration.”

The contracts include agreements to provide integration and technology services to the New York City Department of Education, a substance use disorder solution to support the opioid crisis in North Carolina, and more than 100 new contracts to provide mental health support covering up to 50,000 new employees under subscription services. CloudMD also said it has added several contracts within the public sector division including for a major college employer in Atlantic Canada and mental health coaching for the employees of a major Ontario university.


Freehold Royalties Ltd. (FRU-T) announced a 33-per-cent dividend hike alongside its fourth-quarter and full-year financial results.

Revenue was $73.6-million up from $25.8-million a year earlier. The expectation was for $77-million, according to S&P Capital IQ.

Net income was $31.2-million or 21 cents per share compared to $400,000 or nil per share a year earlier. “The higher net income reflected increased revenues due to improving commodity prices and growth in production volumes,” the company stated. The expectation was for earnings of 22 cents in the latest quarter.

Funds from operations were a record $68.8-million or 46 cents per share, a 211-per-cent increase from the $22.1-million or 19 cents per share) generated a year ago.

“The strong recovery in funds from operations compared to Q4-2020 was due to higher royalty production resulting from Freehold’s acquisitions of U.S. royalty properties, increased third-party drilling activities and higher commodity pricing reflecting a significant improvement in crude oil benchmark pricing alongside better-realized pricing from the expansion of the company’s U.S. portfolio,” it stated.

The company increased its monthly dividend to 8 cents per share up from 6 cents.


True North Commercial Real Estate Investment Trust (TNT.UN-T) reported revenue of $35.5-million for the fourth quarter, down from $36.2-million a year ago. Net income of $18.9-million compared to net income of $8.3-million a year earlier.

Funds from operation came in at $13.3-million or 14 cents per unit versus $13.2-million or 15 cents a year earlier. The expectation was for FFO of 15 cents per share, according to S&P Capital IQ.


Pizza Pizza Royalty Corp. (PZA-T) reported said system sales from the 725 restaurants in the royalty pool increased 11.4 per cent to $137.7-million from $123.7-million in the same quarter a year earlier when there were 749 restaurants in the royalty pool. The sales were above expectations of $128.5-million. Same-store sales growth was 12.4 per cent in the quarter.

Earnings per share increased 11.3 per cent to 20.7 cents for the quarter compared to the prior-year comparable quarter, the company stated.


Athabasca Oil Corp. (ATH-T) reported fourth-quarter sales of $292.4-million up from $155.1-million a year earlier.

Net income was $348.1-million or 70 cents per share versus a loss of $56.9-million or 11 cents a year earlier.


Tree Island Steel (TSL-T) announced a special dividend and reported a jump in fourth-quarter revenue.

The company said revenues increased to $76-million from $54.2-million a year earlier, driven by higher demand particularly in commercial construction, along with pricing increases across all market segments.

Net income of $59-million or $2.08 per share compared to $1.7-millioni or 6 cents a year earlier. Adjusted EBITDA amounted to $12.6-million, compared to $4.5 million during the same period in 2020.

The company also declared a regular quarterly dividend of 3 cents per share and an additional $1.20 per share special dividend, both payable on April 14, to holders of record at the close of business on March 31.


Andlauer Healthcare Group Inc. (AND-T) reported revenue of $133-million for the fourth quarter, compared to $86.6-million a year earlier and ahead of expectations of $120.9-million.

Net income was $56-million or $1.26 per share compared to $13.9-million or 36 cents per share a year earlier.


Tecsys Inc. (TCS-T) reported record revenue of $35.4-million for its third quarter ended Jan. 31, up from $31.9-million a year earlier and in line with expectations.

Net profit was $0.9-million or 6 cents per share compared to a net profit of $1.8 million or 12 cents per share a year earlier.


CWC Energy Services Corp. (CWC-X) reported revenue of $33.7-million in the fourth quarter compared to $20.1-million a year earlier.

Net income of $2.9-million or a penny per share compared to a net loss of $0.8 million or a penny per share a year earlier.


Clarke Inc. (CKI-T) reported fourth-quarter gains on investments of $5.1-million compared to gains of $18-million for the same period in 2020.

Net income of $5.8-million or 40 cents per share compared to net income of $14.5-million or 94 cents in the same period in 2020. “This decrease was largely the result of significant realized and unrealized gains on investments during the prior period compared to the current year,” the company stated.

Diluted EPS was 36 cents versus 79 cents a year earlier.


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