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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news

Héroux-Devtek Inc. (HRX-T) reported sales of $147.5-million for its fourth quarter ended March 31 compared to $155-million a year ago. The result was ahead of expectations of $138.8-million.

Net income of $11.5-million or 33 cents per share compared to net income of $8.8-million or 24 cents a year ago. Adjusted EPS of 38 cents compared to 28 cents last year and ahead of expectations of 23 cents.

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Converge Technology Solutions Corp. (CTS-T) announced it will acquire PC Specialists, Inc., doing business as Technology Integration Group, for US$74-million in cash. San Diego-based TIG specializes in optimized performance solutions and critical business support, the company stated.

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Computer Modelling Group Ltd. (CMG-T) reported revenue of $18.8-million for its fourth quarter ended March 31 compared to $16.8-million a year ago. The expectation was for revenue of $16.7-million.

Net income of $5-million or 6 cents per share was in line with expectations and compared to $3.3-million or 4 cents per share a year ago.

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Velan Inc. (VLN-T) announced sales of US$124.9-million for its fourth quarter ended Feb. 28, an increase from US$85.5-million a year ago.

Its net loss of $25.6-million or US$1.19 per share compared to a net income of $338.000 or 2 US cents per share last year.

Adjusted net income came in at US$7-million or 32 US cents a year ago.

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Ascend Wellness Holdings, Inc. (AAWH.UN-CN) announced that it has closed on $36.5-million of additional funding under the increase option of its existing term loan credit facility.

“This financing will support our investments in near-term growth initiatives including the expansion of our Pennsylvania assets and acquisition of MedMen NY. We continue to explore all financing options including additional capacity under the term loan increase option,” said Dan Neville, the company’s chief financial officer.

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