Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news and on the move today.
CloudMD Software & Services Inc. (DOC-X) reported second-quarter revenue of $40.3-million, compared to $15.7-million for the same quarter last year. The company said the growth was driven largely by acquisitions. The expectation was for revenue to come in at $41.6-million for the latest quarter, according to S&P Capital IQ.
Adjusted EBITDA came in at a loss of $3.2-million compared to a loss of $600,000 a year ago. Its net loss was $44.2-million or 15 cents per share compared to a loss of $6.6-million or 3 cents per share a year ago. “The larger loss per share was driven by a $33-million impairment of goodwill and $5.5-million of other non-recurring one-time costs,” the company stated.
Conifex Timber Inc. (CFF-T) announced a reduction in its operating schedule to a one-shift basis at its Mackenzie, B.C., sawmill starting on Aug. 29, citing “acute transportation challenges that have afflicted the overall industry since about November 2021, and which continue to persist.”
It said the reduced operating schedule is planned for up to six weeks and will impact production capacity by approximately 26 million board feet.
“We have experienced persistent rail transportation challenges that have impacted our operations,” stated CEO Ken Shields in a release. “These challenges have forced us to align our shift configuration with those in place at other interior B.C. operations to manage unsustainable inventory levels. The decision to reduce our operating schedule was difficult, and we regret the impact this may have on our employees, their families, and the community.”
Blackline Safety Corp. (BLN-T) announced it has signed a non-binding term sheet for a new two-year $15-million senior secured operating facility, with a potential $5-million accordion feature to increase the size, with ATB Financial. The company said the new credit facility replaces its existing senior secured credit facility with another lender.
Blackline said the credit facility is subject to various conditions including that it raise gross proceeds of not less than $15-million from its recently announced bought-deal financing and concurrent non-brokered private placement “and the entering of binding definitive agreements in respect of the same.”
Olympia Financial Group Inc. (OLY-T) announced that its chief financial officer Gerhard Barnard has resigned “due to personal reasons,” effective Sept. 30. The company said it expects to announce a replacement “in the near future.”
Ceres Global Ag Corp. (CRP-T) announced that its president and CEO Robert Day is stepping down, effective today. He will also resign his board seat and will act as a consultant “for several months,” the company stated.
Carlos Paz, the company’s vice-president and commercial director, has been named its president and CEO, effective immediately.
Hamilton Thorne Ltd. (HTL-X) reported second-quarter sales increased 14 per cent year over year to $14.2-million. The expectation was for revenue to come in at $14.9-million in the latest quarter.
Net income was $275,000 for the quarter ended June 30 versus net income of $482,000 in the year-ago period.
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