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Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news

Transat A.T. Inc. (TRZ-T) reported revenue for the third quarter ended July 31 totalled $508.3-million, up from $12.5-million in its third quarter of 2021. The expectation was for revenue of $571.6-million, according to S&P Capital IQ.

Its net loss attributable to shareholders of $106.5-million or $2.82 per share for the quarter compared with a loss of $138.1-million or $3.66 per share in the same period a year earlier.

On an adjusted basis, Transat said it lost $3.20 per share in its most recent quarter compared with an adjusted loss of $3.06 per share a year ago. The expectation was for an adjusted EPS loss of $2.76.


Cineplex Inc. (CGX-T) said it remains focused on recouping the value of a judgement against Cineworld Group PLC despite the U.K.-based movie theatre operator’s bankruptcy filing in the U.S.

Toronto-based Cineplex was awarded $1.24-billion in damages after Cineworld walked away in 2020 from its $2.18-billion deal to buy the Canadian theatre chain, while Cineplex filed documents early this year pushing for an even higher payout.

Cineplex says it will explore all avenues available to advance its claims against Cineworld, though it notes that the movie chain indicated that it believes the bankruptcy filing has stayed Cineplex’s claim against the company.

- The Canadian Press


Enthusiast Gaming Holdings Inc. (EGLX-T) announced a collaboration with Coinbase Global Inc. (COIN-Q) that sees Coinbase become the preferred infrastructure provider to power Enthusiast Gaming’s portfolio of Web3-enabled games.

Coinbase will provide developer tools, educational content, and community-building support to power Enthusiast Gaming’s portfolio of Web3-enabled games, the company stated.

“Coinbase is uniquely positioned to empower Enthusiast Gaming’s goal of creating memorable gaming experiences and capturing the next wave of Web3 users globally,” it stated.


Waterloo Brewing Ltd. (WBR-T) reported net revenue of $29.5-million for its second quarter ended July 31, a decrease from $34.2-million in the prior year’s quarter. The expectation was for revenue to come in at $33.6-million, according to S&P Capital IQ.

Net income of $730,000 or 2 cents per share compared to net income of $4.2-million or 11 cents a year ago.


Equinox Gold Corp. (EQX-T) reported that mining activities at its Los Filos Mine in Mexico have been temporarily suspended as the result of what it said was an illegal blockade by members of the nearby Mezcala community.

Equinox said the blockade is preventing the delivery of certain supplies to the mine that are required to maintain operations.

“The company will engage with community leadership to find a solution that allows the mine to r


Patriot Battery Metals Inc. (PMET-X) announced that it has increased its land position in the La Grande Greenstone Belt through the acquisition of a 100-per-cent interest in the Pontois West Property.

The property is a block of 31 contiguous claims in the James Bay Region of Quebec, located approximately 10.5 km west of the company’s Corvette Property.

The company said it will pay $100,000 in cash and issue 220,000 common shares. The vendor will also retain a 2% net smelter royalty (NSR) which has a 50 per cent buyback option by the company for $1-million.

“The property has been acquired for its lithium pegmatite potential,” the company stated. “However, is considered to also be prospective for orogenic gold and volcanogenic massive sulphide.”


BTB Real Estate Investment Trust (BTB.UN-T) announced the acquisition of an industrial property in Edmonton for $15.75-million, excluding transaction costs and adjustments.


D2L Inc. (DTOL-T) reported revenue of US$41.2-million for its second quarter ended July 31, up 12 per cent from the same quarter last year. The expectation was for revenue to come in at US$42.4-million, according to S&P Capital IQ.

Its loss was US$4.8-million versus a loss of US$17.8-million a year ago.

The company also updated its previous guidance for the 12 months ended Jan. 31, 2023. Total revenue is expected to be in the range of US$168-million to US$170-million, implying growth of 11 to 12 per cent over the year ended Jan. 31, 2022, the company stated. That compares to previous guidance of total revenue in the range of US$175-million to US$178-million, implying growth of 15 to 17 per cent over the same period.

The expectation is for revenue of US176.9-million for fiscal 2023.


The North West Company Inc. (NWC-T) increased its quarterly dividend and reported second-quarter sales slightly higher than last year.

The company said sales for its second quarter ended July 31 increased 2.4 per cent to $578.9-million led by sales gains in international operations and the impact of foreign exchange on the translation of those sales. The expectation was for sales to come in at $577.7-miillion, according to S&P Capital IQ.

Net earnings attributable to shareholders were $31.4-million or 64 cents per share compared to 86 cents per share last year.

The company declared a dividend of 38 cents per share, an increase of a penny or 2.7 per cent per share from its current level.

“Our results in the quarter reflect the continuation of cycling through the significant COVID-19-related sales and earnings gains over the past two years. Our business remains strong, especially when compared to pre-pandemic sales and earnings levels,” said CEO Dan McConnell.

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