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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.

Major Drilling Group International Inc. (MDI-T) announced revenue for its second quarter ended Oct. 31 came in at $121.2-million, up 15 per cent from the same quarter last year and ahead of expectations of $119.1-million.

Net earnings were $7.3-million or 9 cents per share for the quarter, compared to $3.3-million or 4 cents per share for the prior-year quarter. Analysts were expecting earnings of 8 cents per share.

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Tecsys Inc. (TCS-T) reported revenue of $26-million for its second quarter ended Oct. 31, up from $18.2-million for the same period last year and ahead of expectations of $23.9-million.

The company said its net profit was $1.4-million or 11 cents per share compared to a profit of $600,000 or 5 cents a year ago. Analysts were expecting earnings of 2 cents per share.

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Paramount Resources Ltd. (POU-T) announced that it has closed the sale of certain natural gas weighted properties in West Central Alberta for about $55-million. Paramount said it will retain all of its Duvernay assets in both Willesden Green and the East Shale Basin, as well as its fee title and royalty lands.

"The transaction significantly reduces the complexity of Paramount's operations, as the company has disposed of [about] 320,000 net acres and associated wells and facilities south of township 53 in Alberta (excluding the Retained Lands)," it stated, adding that it has "minimal capital spending planned for the assets in the near term.

The company said the sale of the assets is consistent with its strategy of "pursuing non-core dispositions to rationalize its portfolio" as it focuses on the development of its core liquids-rich Montney assets at Karr and Wapiti.

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DHX Media (doing business as WildBrain) (DHX-T) announced plans to voluntarily delist its common voting shares and variable voting shares from NASDAQ. The shares will continue to trade on the Toronto Stock Exchange.

"With the majority of its shares trading on the TSX, WildBrain believes the costs and administrative requirements associated with maintaining a dual listing are not justified at this time," the company stated. "The decision to delist from NASDAQ is consistent with the company's previously announced cost-saving efforts with a portion of these savings to be redeployed for investing in growth areas of the business."

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AgraFlora Organics International Inc. (AGRA-C) announced an interim agreement to acquire Sanna Health Corp., a Toronto-area licenced cannabis company for $23-million in common shares in the capital of the company, which it said is based upon a fixed pricing benchmark of 30 cents per share. The payment shares issuable on the acquisition are subject to escrow provisions over 18 months and one day, the company stated.

The integration of Sanna will more than double the company’s 2020 production capacity, AgraFlora said in a release.

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Inovalis Real Estate Investment Trust (INO.UN-T) announced a $45-million bought-deal financing to fund the proposed acquisition of a property in France. The REIT said it has an agreement with a syndicate of underwriters to sell 4,225,400 trust units of the REIT for $10.65 each.

The REIT said it owns a 25-per-cent interest in an office building in Arcueil, France and has a non-binding agreement in principle in place with the REIT’s joint venture co-owner to acquire the remaining 75-per-cent interest. The REIT intends to use the net proceeds from the offering to fund the potential acquisition and for general trust purposes.

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Sabina Gold & Silver Corp (SBB-T) announced a $5-million bought-deal private placement of flow-through shares. The proceeds will be used for exploration on the company’s Back River project. The Offering will consist of 2,137,000 common shares at a price of $2.34 per flow-through share.

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