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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.

Transcontinental Inc. (TCL.A-T; TCL.B-T) announced that its TC Media division has acquired digital education products company Scolab Inc., known for Netmath, distributed in Canada in French and English, and Buzzmath, distributed in the U.S.

The company said the products are used by thousands of students and teachers across North America.

“This strategic acquisition enhances TC Media Books’ already strong digital offering,” stated Patrick Lutzy, President of TC Media. “The co-existence of digital with print is essential today in our industry, and we are proud of our leadership in this area. This new step forward expands and diversifies our offering of digital educational products for the elementary and secondary levels.”

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Westport Fuel Systems Inc. (WPRT-T) reported fourth-quarter revenue of US$82.7-million, a decrease of 1 per cent over the same period last year, which it says reflects manufacturing delays “caused by the shortage of semiconductors in our heavy and light-duty businesses.”

Net income of US$5.3-million or 3 US cents per share compared to net income of US$4.1-million or 3 US cents per share. Adjusted EBITDA was US$10-million versus US$8.1-million a year earlier.

The expectation was for revenue of US$82.5-million and a loss of 2 US cents per share, according to S&P Capital IQ.

The company also said it’s not providing 2022 revenue guidance. " Since the fourth quarter of 2021, we have observed softness in demand caused by the continued uncertainty of the elevated prices of gaseous fuels relative to diesel and gasoline,” the company stated. “At this time, we are uncertain as to the duration of the price fluctuations and their impact on sales volumes but remain cautiously optimistic that price differentials will return to historically normal ranges in the long term.”

It also said sanctions against Russia could impact its business in Russia. “The full impact of the commercial and economic consequences of the conflict are uncertain at this time, and we cannot provide assurance that future developments in the Russian-Ukraine conflict would not have an adverse impact on the ongoing operations and financial condition of our business in Russia,” it stated.

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Cardinal Energy Ltd. (CJ-T) reported fourth-quarter revenue of $140.4-million up from $66.1-million a year ago.

Adjusted funds flow increased 293 per cent to $53.5-million as compared to $13.6-million in the fourth quarter of 2020.

Earnings came in at $39-million or 24 cents per share versus earnings of $120-million or $1.04 per share a year earlier.

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PetroShale Inc. (PSH-X) announced fourth-quarter revenue of $72.9-million up from $37.3-million a year earlier.

Its net income was $25.1-million or 5 cents per share versus a loss of $12-million or 7 cents a year earlier.

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Well Health Technologies Corp. (WELL-T) issued a release about growth in its U.S. operations, including a record-setting 105,000 omnichannel patient visits serviced by more than 1,100 practitioners in January.

“We are extremely pleased with the performance of our US assets,” said CEO Hamed Shahbazi in a release “Our operators continue to deliver high-quality care to patients and exceptional financial results that create value for our shareholders. Our business has never been stronger as we continue to grow organically and inorganically in a disciplined and measured manner.”

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Ceres Global Ag Corp. (CRP-T) announced a letter of intent to acquire Columbia Grain International’s 50-per-cent membership interest in grain operator Berthold Farmers Elevator LLC.

The acquisition, to be made through the company’s Riverland Ag Corp. division, will pay cash for the investment, coming from working capital and available debt capacity.

The other 50-per-cent membership interest in BFE is owned by Berthold Farmers Elevator Company, a farmer cooperative based in Berthold, N.D.

“Becoming a joint venture owner with Berthold Farmers Elevator Company advances our strategy to partner with growers and increase origination of our core products,” said Ceres CEO Robert Day.

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Guru Organic Energy Corp. (GURU-T) reported revenue of $7-million up from $6.6-million for its first quarter ended Jan. 31. The expectation was for revenue of $6.7-million in the latest quarter.

Its net loss was $3.2-million or 10 cents per share versus a loss of $636,000 or 2 cents a year ago.

“The increase in net loss reflects the lower margins and the additional costs associated with brand, field and trade marketing activities,” the company stated.

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