Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Goodfood Market Corp. (FOOD-T) reported sales of $77.8-million for its first quarter ended Dec. 4, down from $91.4-million a year earlier and below expectations of 80.4-million.
Its net loss was $21.6-million or 29 cents per share versus a loss of $3.1-million or 5 cents a year ago. The company said the increased net loss year-over-year is mainly due to lower net sales and gross profit as well as higher wages and salaries. It said the net loss in the most recent quarter included $2-million in reorganization costs related to cost-saving initiatives
“The continued removal of lock-down restrictions and the increased vaccine coverage during the first quarter of fiscal 2022 reduced consumer demand resulting in net sales decreasing compared to the same period last year,” the company stated.
**
MTY Food Group Inc. (MTY-T) announced that its quarterly dividend will increase from 18.5 cents per share to 21 cents per share, an increase of 14 per cent.
The 21-cent dividend will be payable on Feb. 15 to shareholders registered in the company’s records at the end of the business day on Feb. 3.
The company said it’s the first increase since the onset of the COVID-19 pandemic.
MTY also said it will continue to seek acquisitions “as the market conditions improve to make such investments.**
**
Sleep Country Canada Holdings Inc. (ZZZ-T) announced the launch of the Sleep Country store on Loblaw Marketplace, the grocery retailer’s digital platform. “Through this innovative partnership, customers will have access to the country’s leading assortment of sleep products across all Loblaw online grocery platforms,” the company stated.
Sleep Country said it will be the exclusive provider of traditional mattresses on Loblaw Marketplace.
**
East Side Games Group (EAGR-T), formerly Leaf Mobile, announced that it has acquired all of N3twork Inc.’s interest in the Funko Pop! Blitz mobile game and all assets used and related to the free-to-play mobile game on iOS and Android thereto. As part of the terms of the deal, East Side said it issued 419,389 common shares to a nominee of N3twork, “among other consideration,” the company stated.
**
Vox Royalty Ltd. (VOX-X) announced an agreement with a private South African registered company, to acquire two platinum group metals royalties for total consideration of up to C$10.4-million.
**
Eldorado Gold Corp. (ELD-T) provided detailed 2022 production and cost guidance and “an improved five-year production outlook.”
The company said gold production is expected to be between 460,000 to 490,000 ounces this year at an average cash operating cost of US$640 to US$690 per ounce and an average all-in sustaining costs of US$1,075 to US$1,175 per ounce.
**
Endo International plc (ENDP-Q) announced that it and its wholly-owned subsidiaries Endo Pharmaceuticals Inc. and Endo Health Solutions Inc. have entered into a statewide settlement agreement intended to resolve all government-related opioid claims in Florida.
The settlement “provides a framework through which Endo and its subsidiaries can fully and finally resolve the opioid-related claims of Florida and its subdivisions in exchange for a total payment of up to $65 million,” the Dublin-based company stated.
It said the Florida settlement includes “no admission of wrongdoing, fault or liability of any kind by Endo or its subsidiaries” and resolves claims against the company’s subsidiaries which were set for trial in Florida state court in April.
“The settlement value should not be extrapolated to any other opioid-related cases or claims,” the company stated, adding that it’s continuing to litigate opioid claims not covered by its settlements and to pursue settlements that it believes are in its best interests while remaining focused on its primary goal of achieving a global settlement.
**
AutoCanada Inc. (ACQ-T) announced preliminary unaudited fourth-quarter revenue of about $1.13-million to $1.17-million, which it said is about 30 per cent higher than the same period a year earlier. Analysts were expecting revenue of $1.04-milion, according to S&P Capital IQ.
The company also expects same-store total retail unit sales growth of about 13 per cent as compared to 3.9 per cent in the year-ago quarter.
It also said it expects an increase in net debt from $29.8-million as of Sept. 30, to approximately $200-million to $220-million as of Dec. 31, 2021. “The increase includes debt incurred in connection with the acquisition of 11 dealerships from the Autopoint Group, the acquisitions of Airdrie Autobody in Canada and Crystal Lake Stellantis in the U.S., and the purchase of dealership real estate under development in Maple Ridge, BC, which represented a total cash outflow of approximately $191-million during the quarter,” the company stated.
AutoCanada said it’s issuing preliminary results so that it can be disclosed in connection with its update to fixed income investors, and that it doesn’t intend to provide preliminary results in the future.
**
Velan Inc. (VLN-T) announced the appointment of Bruno Carbonaro as president and CEO and as a member of its board. He recently succeeded Yves Leduc, who will continue to serve as special advisor to the chairman, the company stated.
**
Wheaton Precious Metals Corp. (WPM-T) announced a precious metals purchase agreement with Alliance Metals International, a subsidiary of Adventus Mining Corp. (ADZN-X) related to is Curipamba project in Ecuador. Alliance is a subsidiary of Adventus Mining and Salazar Resources Limited (SRL-X). Adventus Mining also said it has an offtake financing agreement with Trafigura Pte Ltd related to the project.
Adventus Mining and Salazar said they have secured a total of US$235.5-million to advance and, following a construction decision, build the Curipamba project; US$23.5-million of which will be available for pre-construction activities. The companies said the financial arrangement compares to an estimated capital cost of US$248-million outlined in their feasibility study
According to the release, the details include a US$180.5-million financial commitment from Wheaton and US$55-million financial commitment from Trafigura
**
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.