Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Anaergia Inc. (ANRG-T) announced second-quarter revenue of $42.2-million, up from $26.8-million restated for the prior year. The expectation was for revenue to come in at $52.1-million according to S&P Capital IQ.
Its net loss of $19.6-million was largely driven by $14.3-million in losses from changes in fair value of derivatives and losses in equity-accounted investees. The result compared to a profit of $1.2-million a year ago.
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AutoCanada Inc. (ACQ-T) announced that it purchased about $32.5-million of its stock as part of a share buyback plan to repurchase up to $100-million of its shares.
As part of the dutch auction, the company said it expects to take up about 1,159,707 shares at a price of $28 each, which is about 4.37 per cent of its shares.
“As the total number of shares tendered was less than the total that could have been purchased by the company under the terms of the offer, all shares validly deposited and not withdrawn prior to the expiry of the offer will be purchased at the maximum purchase price offered under the offer and no proration will be required,” the company stated.
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Exchange Income Corp. (EIF-T) announced a $100-million bought-deal offering of common shares.
The company said it has an agreement to sell just over two million common shares from treasury to a syndicate of underwriters co-led by National Bank Financial Inc. and CIBC Capital Markets. The shares will be offered at a price of $48.70 each. The stock closed at $51.47 on the TSX on Monday.
“Earlier this year the corporation closed on its largest acquisition to date, and we are examining multiple accretive acquisition opportunities,” it stated in a release after markets closed on Monday.
“Accordingly, the corporation wishes to be able to move quickly to take advantage of these opportunities should the situation warrant. As such, the net proceeds of the offering will initially be utilized to pay down funded debt, until required for future acquisitions or growth opportunities.”
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Chemtrade Logistics Income Fund (CHE-UN-T) announced a $75-million bought-deal equity offering after markets closed on Monday. The company said it has an agreement to sell to a syndicate of underwriters, led by BMO Capital Markets and RBC Capital Markets, 8.7 million trust units for $8.65 each. The fund’s units closed at $9.03 on the TSX on Monday.
The fund said the net proceeds will be used to partially finance its previously announced ultrapure sulphuric acid growth projects to expand capacity at its existing Ohio plant and to build a new plant in Arizona.
“Pending any such use, the net proceeds from the Offering will temporarily be used to reduce indebtedness under the Fund’s existing credit agreement,” it stated, adding that the company “believes that additional capacity for ultrapure sulphuric acid is required to support the fast-growing semiconductor industry in the United States.”
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Automotive Properties Real Estate Investment Trust (APR-UN-T) reported second-quarter rental revenue of $20.8-million, which was in line with expectations and compared to $19.6-million a year ago.
Net income of $31.2-million compared to net income of $17.9 million last year.
Funds from operations (FFO) of $12-million or 24.1 cents per unit compared to $11.8-million 23.6 cents a year ago. Adjusted FFO was $11.4-million or 22.9 cents per unit compared to $11-million or 22.1 cents. The expectation was for adjusted FFO per unit of 24 cents.
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Quipt Home Medical Corp. (QIPT-T) reported revenue of US$36.7-million for its third quarter ended June 30, compared to US$26.2-million a year ago. The expectation was for revenue of US$47-million, according to S&P Capital IQ.
Net income of US$163,000 compared to net income of US$6.3-million a year earlier. Adjusted EBITDA came in at US$7.7-million versus US$5.3-million last year.
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Enthusiast Gaming Holdings Inc. (EGLX-T) reported second-quarter revenue of $51.1-million, a 38-per-cent increase versus revenue of $37.1-million a year ago. The result was slightly ahead of expectations of $50.2-million, according to S&P Capital IQ.
Its net loss and comprehensive loss was $13.9-million or 12 cents per share versus a loss of $12.8-million or 11 cents a year ago. The expectation was for a loss of 9 cents per share in the latest quarter.
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Playmaker Capital Inc. (PMKR-X) reported second-quarter revenue of US$7-million compared to US$3-million in the year-ago quarter. The expectation was for revenue to come in at US$6.6-million in the latest quarter.
Its net loss and comprehensive loss of US$2.1-mllion or a penny per share versus a loss of US$1.8-million or a penny per share last year.
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