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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.

Sleep Country Canada Holdings Inc. (ZZZ-T) reported first-quarter revenue of $135.3-million, up from $124.2-million a year earlier. Same-store sales growth was 5.1 per cent year-over-year, the company said. Net income was $10.3-million or 28 cents per share versus $10.3-million or 27 cents a year earlier. Adjusted EPS was 30 cents versus 29 cents a year ago. Analysts were expecting revenue of $137.2-million and adjusted EPS of 30 cents. The company also increased its quarterly dividend by 12 per cent to 18.5 cents per share.

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Wajax Corp. (WJX-T) reported revenue of $342.7-million in the first quarter up from $319.4-million in the first quarter of 2017. Net earnings were $9.9-million or 51 cents per share versus $6.3-million or 32 cents per share in the same period of 2017. Adjusted net earnings came in at $10.4-million or 53 cents per share versus $6.3-million or 32 per share in the same period of 2017. Analysts were expecting revenue of $342.8-million and earnings of 52 cents.

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Morneau Shepell Inc. (MSI-T) reported revenue of $167.5-million in the first quarter, up from $156.6-million a year ago. Analysts were expecting revenue of $171.2-million. Profit was $14.2-million up from $8.3-million a year ago.

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NorthWest Healthcare Properties REIT (NWH.UN-T) says it has acquired a 10-per-cent interest in Healthscope Limited, an Australian private hospital operator, at a price of $2.39 per share by way of a derivative with Deutsche Bank AG. “An acquisition of Healthscope’s underlying hospital related real estate is of interest to NWH and Vital Healthcare Property Trust in line with their long-term strategy to invest in healthcare real estate assets in the Australasian market,” the company stated. NWH said it has exposure to Australia and New Zealand through its investment in its associated entity, Vital Healthcare Property Trust. NorthWest Healthcare Property Management Limited is the manager of Vital.

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Trinidad Drilling Ltd. (TDG-T) reported first-quarter revenue of $153.2-million up from $132.7-million a year earlier. Its net loss was $22.5-million or 8 cents per share versus a loss of $11.9-million or 5 cents per share a year ago. Analysts were expecting revenue of $147.4-million and a loss of 8 cents per share.

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Alaris Royalty Corp. (AD-T) reported revenue from partners of $23.6-million in the first quarter, an increase from $20.8-million a year earlier. Analysts were expecting revenue of $23.4-million. Its loss was $3.1-million versus a profit of $11.8-million a year earlier. Basic earnings per share came in at a loss of 9 cents versus a profit of 33 cents a year earlier. “Normalized earnings” were $18.2-million or 49 cents per share compared to earnings of $13-million or 35 cents a year earlier.

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Slate Office REIT (SOT.UN-T) has an agreement to sell 135 Queens Plate Drive in Etobicoke, Ont. for $16.7-million. The REIT said it expects to initially use the net proceeds to reduce outstanding debt, which may be redrawn to fund future acquisition activity.

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Absolute Software Corp. (ABT-T) reported revenue of US$23.3-million in its third quarter ended March 31, representing a year-over-year increase of 1 per cent. Net income was US$1.1-million or 3 cents per share versus a loss of US$200,000 or a penny per share a year earlier. Analysts were expecting revenue of US$23.8-million and earnings of a penny per share in the latest quarter.

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Lundin Mining Corp. (LUN-T) and Euro Sun Mining Inc. (ESM-T) disclosed an offer made earlier to buy base metals company Nevsun Resources Ltd. (NSU-T) which rejected the $1.5 billion proposal.

Under the terms of the offer dated April 30, Nevsun shareholders were to receive a total consideration of $5 per Nevsun share including $2 in cash funded by Lundin Mining, $2 in shares of Lundin Mining and C$1 in shares of Euro Sun, Lundin Mining and Euro Sun said in a joint statement.

Vancouver-based Nevsun rejected the offer on Monday, the statement added.

In a release issued before markets opened on Tuesday, Nevsun says its board has “unanimously rejected” the unsolicited proposal led by Euro Sun Mining and including Lundin. It said Nevsun shareholders don’t need to tack action, adding that the proposal “is not an offer capable of being accepted by the company’s shareholders nor does it disclose whether such an offer is intended to be made. It is merely a non-binding proposal by Euro Sun. It said Nevsun shareholders will have 105 days to respond if a formal proposal is made.

“The Nevsun board of directors is unanimous in its belief that the non-binding unsolicited proposal fails to reflect the strategic value of our asset base,” Ian Pearce, Nevsun’s chair said in a release. He also said the proposal “presents a problematic structure that could further undermine value to our shareholders.”

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Aimia Inc. (AIM-T) says it board has appointed Jeremy Rabe as the new president and CEO effective today. Mr. Rabe will remain on the board and replaces David Johnston who, as previously announced, is departing the company.

Mr. Rabe was most recently an operating partner with Advent International, a global private equity firm where he provided support to portfolio companies including LifeMiles, the loyalty program of Avianca, the company said.

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Organigram Holdings Inc. (OGI-X) says it plans to acquire up to 25 per cent of alpha-cannabis Pharma GmbH, located in Stadthagen, Germany.

“As we expand into international market development and technology acquisition, we are pleased to announce our proposed investment in Alpha-Cannabis Germany, the first of what we anticipate will be several international business development announcements,” Greg Engel, CEO, Organigram said in a release.

According to the non-binding term sheet, Organigram will invest up to €1,625,000 ($2.5-million) in cash and €875,000 ($1.3-million) worth of Organigram common shares (based on the achievement of milestones) for 25 per cent Alpha-Cannabis Germany. Once the agreement is final, Organigram says it will provide ACG with dried cannabis flower as well as sweet leaf for conversion into extracts for the burgeoning German medical cannabis market.

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WestJet Airlines Ltd. (WJA-T) reported first-quarter profit that missed analysts’ estimates on Tuesday as expenses rose due to higher fuel prices.

Fuel expenses jumped 19.3 percent to $281.2-million in the quarter, while revenue per available seat mile - an important metric for Canada’s second-largest commercial carrier - rose 2.5 per cent to 14.84 cents. WestJet said in February it expected first-quarter fuel costs to grow between 13 per cent to 16 per cent.

Excluding certain items, WestJet earned 32 cents per share, missing the average analyst estimate of 36 cents, according to Thomson Reuters I/B/E/S. The company’s net earnings fell to $37.2-million, or 32 cents per share, for the quarter ended March 31 from $46.7-million, or 40 cents per share, a year earlier. Revenue rose 6.9 per cent to $1.19-billion.

-Reuters

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Endo International plc (ENDP-Q, ENDP-T) reported revenues of $701-million in the first quarter, down from $1-billion a year earlier. Analysts were expecting revenue of $692-million. Its net loss from continuing operations was $498-million or $2.23 per share compared to a loss of $165-million or 74 cents a year earlier.

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Aralez Pharmaceuticals Inc. (ARLZ-Q; ARZ-T) announced a new strategic direction that involve focussing on its Canadian business, supported by its Toprol-XL franchise as well as Vimovo royalties, and discontinuing its remaining U.S. commercial business. It said the new direction is “in the best interests” of the company and its shareholders, based on a “continuing exploration and evaluation of numerous opportunities to streamline the business, reduce costs, and improve its capital structure and liquidity.”

The company also said it continues “to explore and evaluate a range of strategic business opportunities to enhance liquidity.” It expects to record a restructuring charge because of the implementation of this plan in 2018, “mainly related to severance costs and contract termination costs related to the shutdown of the U.S. commercial business, with additional charges possible following decisions on divestments and closures of office locations.”

It also reported revenue of US$38.1-million in the first quarter, an increase from US$26-million for the same period of 2017. Its net loss was US$19.7-million, or 29 cents per share compared to a net loss of US$27.5-million or 42 cents a year earlier. Analysts were expecting revenue of US$31.7-million and a loss of 25 cents per share.

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TransAlta Corp. (TA-T; TAC-N) reported funds from operations of $318-million or $1.10 per share in the first quarter, up from $202-million or 70 cents a year earlier. Revenue was $588-million versus $578-million a year ago. Analysts were expecting revenue of $595-million.

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Cominar Real Estate Investment Trust (CUF.UN-T) reported operating revenue of $208.9-million in the first quarter, versus $214-milion for the same quarter a year ago. The expectation was for revenue of $213.1-million. Net income was $30-million versus $59.7-million a year ago. Adjusted net income was $52.9-million compared to $59.7-million for the same period of 2017.

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Newstrike Resources Ltd. (HIP-X) named Jason Redman as chief financial officer, subject to applicable regulatory and exchange approvals.

Most recently he served as CFO at Sirius XM Canada. Prior to SiriusXM Canada, he served as president, Drainage Solutions at Armtec LP, a Brookfield company. He succeeds Jim Macpherson, who served as CFO since Newstrike’s acquisition of Up Cannabis.

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Step Energy Services Ltd. (STEP-T) reported revenue of $187.6-million in the first quarter, compared to $118-million during the same period of 2017. “The increase is primarily attributable to the growth in deployed equipment, as well as improved utilization and pricing,” the company said.

Net income was $18.4-million or 29 cents per share, up from $9-million or 18 cents for the same period in 2017. Analysts were expecting earnings of 31 cents and revenue to be $173.8-million in the most recent quarter.

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Real Matters Inc. (REAL-T) reported revenue of $66.1-million in its second quarter ended March 31, up from $64.5-million a year earlier. Net income was $3-million or 3 cents per share versus a loss of $8.9-million or 12 cents a year earlier. Analysts were expecting revenue of $73.3-million and a loss of 5 cents per share.

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Clearwater Seafoods Inc. (CLR-T) reported sales of $120.1-million in the first quarter which was in line with expectations and down from $128.4-million a year earlier. Its loss attributed to shareholders ​was $13.8-million or 22 cents per share versus a profit of $2.2-million or 3 cents a year earlier. Adjusted earnings came in at $344,000 or a penny per share versus $2-million or 3 cents a year ago.

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