Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
AGF Management Limited (AGF.B-T) reported total assets under management (AUM) of $36.3-billion at the end of the second quarter ended May 31, compared to $38.3-billion in the same period in 2019. Average daily mutual fund AUM decreased to $17.4-billion compared to $19.2-billion in the same period in 2019 driven by recent market volatility, the company stated.
Net redemptions of $93-million compared to $498-million a year ago.
Income was $89-million, compared to $109.8-million a year ago and below expectations of $95.8-million.
Net income of $5.3-million or 7 cents per share compared to net income of $11.5-million or 15 cents a year ago. Analysts were expecting earnings of 9 cents per share.
GoldMining Inc. (GOLD-T) announced the creation of Gold Royalty Corp., a newly incorporated wholly owned subsidiary, that will hold 14 newly created net smelter return (NSR) royalties on its gold-focused asset portfolio in the Americas.
"Following a decade-long effort since forming the company to assemble an extensive portfolio of gold projects in mining-friendly jurisdictions in North and South America, we believe that the timing is right to create this royalty entity, which imparts an additional, and non-dilutive layer, of value to existing shareholders," stated chairman Amir Adnani. "Over the long-term, we intend to explore potential value-enhancing transactions for Gold Royalty Corp., including a potential spin-off, initial public offering, sale, merger or other transactions that may increase shareholder value."
“Listing on the NYSE is a significant milestone for Sprott and a natural next step in the evolution of the company,” stated CEO Peter Grosskopf. “We are pleased to offer our shareholders the ability to trade in U.S. dollars and the expected increase in liquidity. With the current surge in global interest in precious metals investments, we believe this is an excellent time for the NYSE listing and look forward to introducing Sprott to a new and larger investor base.”
Indigo Books & Music Inc. (IDG-T) reported revenue of $178.1-million for the fourth quarter ended Mar. 28 compared to revenue of $199.2-million for the same quarter last year. Its net loss was $171.3-million or $6.22 per share compared to a net loss of $23.8-million or 86 cents last year.
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