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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.

Montreal-based airline and tour operator Transat AT Inc. (TRZ-T) posted a bigger profit in the fourth quarter as higher ticket prices offset rising costs.

Transat’s revenue rose by almost 4 per cent to $690-million in the three months ending Oct. 31, compared with a year ago. Profit rose to $20-million, or 54 cents a share, from $6.8-million (18 cents), Transat said on Thursday morning.

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For the full year, rising fuel prices and a weaker dollar helped send Transat to a loss of $33-million (88 cents), compared with a profit of $6.5-million (17 cents) in the previous year.

Adjusted for $17.5-million in expenses related to the takeover by Air Canada, Transat’s adjusted full-year loss was $9.4-million (25 cents). Tranbat’s cash and cash equivalents totaled $565-million compared with$594-million in the previous year.

Transat said on Thursday it expects the Air Canada takeover to be final in the second quarter of 2020 when regulatory approvals in Canada and Europe are complete.

- Eric Atkins

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Dirtt Environmental Solutions Ltd. (DRT-T; DRTT-Q) announced that it filed a federal lawsuit in the U.S. District Court of Utah against Falkbuilt Ltd, Falkbuilt, LLC, Falk Mountain States, LLC, Kristy Henderson, and former Dirtt employee Lance Henderson.

“This action seeks to restrain the defendants from misappropriating Dirtt’s confidential information, trade secrets, business intelligence and customer information, and using that information to advance Falkbuilt’s U.S. businesses to the detriment of Dirtt,” the company stated in a release.

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MedMen Enterprises Inc. (MMEN-C) announced several financial arrangements and corporate updates that it says will strengthen its balance sheet “and enhance overall corporate governance.”

Some of the updates include financial agreements including US$37-million in financing, an amendment to certain of the company’s outstanding debt and cost reductions.

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Canfor Corp. (CFP-T) issued a statement Thursday morning saying independent proxy advisory firms Institutional Shareholder Services Inc. and Egan-Jones Proxy Services have both recommended its shareholders vote for a proposal B.C. billionaire Jim Pattison’s Great Pacific Capital Corp. to acquire the rest of Canfor’s stock and take the company private. The shareholder vote is on Dec. 18.

Canfor said it felt compelled to release the recommendations after the recommendation of Glass, Lewis & Co. was publicized by a shareholder in what the company called "a misleading and selective manner by press release without noting that both ISS and Egan-Jones had recommended that shareholders vote for the arrangement."

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Canfor said it believes the Glass Lewis report, “which recommended that shareholders not vote in favour of the arrangement, contains material errors and omissions regarding the facts of the matter on which the opinion is based.”

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Crombie REIT (CRR.UN-T) announced a special distribution of 56 cent per unit, payable in units (46 cents per unit) and cash (10 cents per unit) to all unitholders of record as at December 31.

"This special distribution reflects Crombie's successful capital recycling and our commitment to our strategy of creating long-term value for our unitholders," said Don Clow, president and CEO.

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Cresco Labs (CL-C) announced the closing of an agreement to sell its Lincoln, Illinois cultivation facility to GreenAcreage Real Estate Corp. for US$50-million. Alongside the sale, Cresco said it has agreed to enter into a long-term, triple-net lease agreement with GreenAcreage and will continue to operate the property as a licensed medical and recreational cannabis cultivation and processing facility.

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“This agreement is representative of the comprehensive approach to capital planning that we anticipate will ensure our future success, while enabling us to grow our footprint both rapidly and responsibly,” said Cresco Labs CEO and co-founder Charlie Bachtell.

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IBI Group Inc. (IBG-T) announced that Infrastructure Ontario (IO) and Metrolinx have awarded a contract valued at $4.6-billion to Mobilinx Hurontario General Partnership (Mobilinx) to design, build, finance, operate and maintain the Hurontario Light Rail Transit (LRT) project. IBI Group said it will lead the design team as part of this “significant project.”

“The awarding of the Hurontario LRT contract marks a significant win for the firm, and further raises the profile of our global transit infrastructure practice,” said Scott Stewart, IBI Group CEO.

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