Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Exchange Income Corp. (EIF-T) reported that its fourth-quarter revenue grew 20 per cent year-over-year to $316-million. Net earnings came in at $18.4-million or 59 cents per share up from $16.9-million or 55 cents a year earlier. Adjusted net earnings increased by 10 per cent to 79 cents. Analysts were expecting revenue of $302.4-million and adjusted earnings of 73 cents in the latest quarter.
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Gran Tierra Energy Inc. (GTE-T) announced has entered into agreements with private companies acquire “strategic assets” in Colombia for US$104.2 million.
“This highly strategic acquisition further consolidates our dominant position in the Putumayo Basin, with assets that are highly complementary to our existing land base, and adds a new core area in the Llanos Basin," stated CEO Gary Guidry.
"The acquisition immediately adds production, reserves, cash flow and drill-ready exploration prospects to our portfolio.
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Lundin Gold Inc. (LUN-T) announced a $40.5-million bought-deal financing with a syndicate of underwriters that has agreed to purchase 7.5 million shares at $5.40 each. The stock closed at $5.66 on Wednesday.
The company expects that Newcrest Mining Limited, which currently holds approximately 27 per cent of the company's outstanding shares, will exercise its "pre-emptive participation rights" and the Lundin family trusts, which collectively hold approximately 23 per cent, "will participate to their collective pro-rata shareholdings in the financing."
Lundin Gold said it intends to use the net proceeds for exploration on its portfolio of mineral concessions in Ecuador.
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Osisko Gold Royalties Ltd (OR-T; OR-N) reported fourth-quarter revenues of $115.3-million up from $109.6-million a year ago. Its net loss was $113.9-million or 73 cents per share versus $64.4-million or 41 cents a year ago. Analysts were looking for revenues of $126.7-million and earnings of 2 cents.
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Summit Industrial Income REIT (SMU.UN-T) announced fourth-quarter net income of $59.3-million or 67 cents per unit up from $31.2-million or 56 cents a year earlier. Revenue from income properties came in at $26.8-million up from $16.9-million a year earlier.
Funds from operations came in at $12.6-million or 14 cents per unit, which was slightly below expectations of 15 cents and compared to FFO of $7.8-million or 14 cents a year earlier.
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Cargojet Inc. (CJT-T) reported fourth-quarter revenues were $132.6-million, an increase of $14.4-million or 12.2 per cent versus the same quarter a year earlier and above expectations of $130.9-million. Adjusted EBITDA was $40.2-million, an increase of $2.9-million or 7.8 per cent versus the previous year.
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Theratechnologies Inc. (TH-T) reported fourth-quarter of $18.3-million up from $12.6-million for the same period last year. Analysts were expecting revenue of $19.8-million. Its net loss was $1.3-million versus a loss of $4.2-million a year earlier.