Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Starlight Investments and KingSett Capital have signed a deal to buy Northview Apartment Real Estate Investment Trust (NVU.UN-T) in a transaction valued at about $4.8-billion, including debt.
Under the friendly deal, Northview unit-holders will have the option to receive $36.25 per trust unit in cash or receive their payment in units in a Canadian high yield multi-residential fund that will be publicly listed on closing.
Northview units closed at $32.50 on the Toronto Stock Exchange on Wednesday.
The deal, which has the unanimous support of the Northview board, requires approval by Northview unitholders. It includes an initial 30-day go-shop period that will run to March 20 that will allow Northview to solicit and evaluate alternative offers.
The transaction is expected to close during the third quarter of 2020.
-The Canadian Press
Its net loss was $4.5-million or 32 cents per share versus a profit of $6.3-million or 47 cents per share. Adjusted EBITDA was $47.2-million, an increase of $7-million or 17.4 per cent versus the previous year.
Quarterhill Inc. (QTRH-T), through a WiLAN subsidiary, has acquired a portfolio of patents from International Business Machines Corp. “The acquired patents relate to semiconductor manufacturing process technologies. All other terms of the agreement are confidential,” the company stated.
Net income was $8.2-million or 28 cents per share versus $2.7-million or 10 cents per share a year earlier. Adjusted EPS was 38 cents versus 18 cents a year earlier.
Analysts were expecting revenue of $207-million and adjusted earnings of 41 cents per share.
Net income was $1.1-million or 1.7 cents per share versus net income of $302,000 or 0.6 cents per share a year earlier.
Net earnings attributable to shareholders were $30.8-million versus a loss of $70.4-million a year earlier.
Osisko Gold Royalties Ltd. (OR-T; OR-N) reported revenue of $51-million down from $115.3-million a year earlier. Its net loss was $155.2-million or $1.04 per share versus a loss of $113.9-millio nor 73 cents a year earlier.
Adjusted earnings were $10.3-million or 7 cents per share compared to $13-million or 8 cents per share a year ago.
Analysts were expecting revenue of $47.3-million and adjusted earnings of 6 cents.
Summit Industrial Income REIT (SMU.UN-T) reported fourth-quarter revenue from income properties of $41.2-million up from $26.8-million a year earlier. Net income was $66.3-million or 49 cents per unit compared to $59.3-million or 66.7 cents a year earlier.
Funds from operations (FFO) came in at $19.3-million or 14.4 cents versus $12.6-million or 14.1 cents a year earlier. Analysts were expecting FFO per unit of 15 cents and revenue of $41.1-million.