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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.

Laurentian Bank of Canada (LB-T) reported a first-quarter profit of $55.5-million, up from $44.8-million a year ago, and beat expectations.

The Montreal-based bank says its net income amounted to $1.17 per diluted share for the quarter ended Jan. 31, up from 96 cents per diluted share in the same quarter a year earlier.

Revenue totalled $257.5-million for the quarter, up from $247.4-million for the first quarter last year.

Laurentian says its provisions for credit losses amounted to $9.4-million for the quarter compared with $16.8-million a year earlier as lower provisions on impaired loans were partly offset by higher provisions on performing loans.

On an adjusted basis, Laurentian says it earned $1.26 per diluted share in its most recent quarter, up from an adjusted profit of $1.03 per diluted share a year earlier.

Analysts on average had expected an adjusted profit of $1.20 per share, according to financial markets data firm Refinitiv.

“The bank’s year of execution is off to a good start, driven by strong performance in commercial banking, our continued focus on cost management, and sound credit quality,” chief executive Rania Llewellyn said in a statement.

-The Canadian Press


Enthusiast Gaming Holdings Inc. (EGLX-T) announced a multi-year partnership with digital asset miner Hut 8 Mining Corp. (HUT-T) to collaborate on what the companies described as “new experiences and content within mobile and blockchain gaming, Web 3.0, NFTs, and cryptocurrency.”

“The partnership marks the first time Hut 8 has come together with a gaming and esports organization, and Enthusiast Gaming’s first partnership with a digital asset miner,” the companies stated.


Enghouse Systems (ENGH-T) announced its Enghouse Transportation unit has been selected by the California Department of Transportation (Caltrans) to participate in the California Integrated Travel Project (Cal-ITP), marking the firm’s foray into the U.S. Automated Fare Collection market.

“Enghouse Transportation is one of four firms chosen to provide the back-office solution in the Cal-ITP, which will allow more than 300 transit agencies to procure software solutions through its Mobility Marketplace, which offers transit operators links to a suite of pre-negotiated, code-compliant products,” the company stated.


VersaBank (VBNK-T) reported revenue rose 18 per cent to $18.3-million for its first quarter ended Jan. 31 compared to a year earlier. The expectation was for revenue of $19.1-million.

Net income of $5.6-million or 19 cents per share compared to net income of $5.3-million or 22 cents a year earlier. The expectation was for earnings of 23 cents in the latest quarter.


GDI Integrated Facility Services Inc. (GDI-T) reported fourth-quarter revenue of $433-million, an increase of 18.7 per cent over the fourth quarter of 2020. The expectation was $432.3-million.

Net income was $6.9-million or 30 cents per share compared to $17-million or 75 cents per share a year earlier. The decrease of net income is mainly attributable to lower Canadian Emergency Wage Subsidy (CEWS) subsidies in 2021 compared to 2020, the company stated.


Canfor Pulp Products Inc. (CFX-T) reported sales of $249.3-million in the fourth quarter compared to $237.8-million a year earlier. The expectation was $235.8-million.

Its net loss was $101.1-million or $1.55 per share versus a loss of $10.2-million or 16 cents a year earlier. Adjusted net income of $31.7-million or 49 cents per share in the most recent quarter.


Mountain Province Diamonds Inc. (MPVD-T) announced a supply agreement with Chow Tai Fook Jewellery Group Limited (Chow Tai Fook), which the company called “one of the world’s largest and most respected jewellery retailers.”

Mountain Province said it will provide a “select range of diamonds” over a one-year, renewable term.


Aecon Group Inc. (ARE-T) announced an increase to its dividend and reported fourth-quarter earnings including revenue of $1.09-billion for the quarter ended Dec. 31 compared to $1.08-billion a year earlier. The expectation was $1.13-billion, according to S&P Capital IQ.

Profit was $12.1-million or 19 cents per share versus a profit of $32-million or 46 cents a year earlier.

The company announced an increase to the quarterly dividend to 18.5 cents per share from 17.5 cents per share previously and said it was the 10th annual increase in the last 11 years.


Argonaut Gold Inc. (AR-T) reported fourth-quarter revenue of US$102.9-million up from US$100.8-million a year earlier.

Its net loss was US$37.3-million or 12 cents US per share versus a profit of US$18-million or 6 cents US per share a year earlier. Adjusted income was US$10.2-million or 3 cents US per share for the most recent quarter, ahead of expectations of a penny per share US.


ECN Capital Corp. (ECN-T) reported revenue of $69.5-million for the fourth quarter, up from $35.8-million a year earlier.

Adjusted net income applicable to common shareholders from continuing operations of $13.8-million or 6 cents per share, which is in line with expectations and compared to $1.5-million or a penny per share for the same period a year earlier.

Originations for the three-month period ended Dec. 31 were $300-million versus $197-million for the same period last year.

Adjusted EBITDA was $28.8-million versus $11.4-million for the same quarter a year earlier.


Ignite International Brands, Ltd. (BILZ-CNannounced that, based on revenue in the months of January and February and orders and contracts in place impacting March, it expects revenue to exceed $25-million in the first quarter compared to $3.6-million for the same quarter a year earlier.

It also said fourth-quarter 2021 revenue was close to $50-million, compared to $10.1- million reported in the fourth quarter a year earlier, and that it expects its audited financial statements for 2021 to show a profitable fourth quarter and a profitable year.

The company also announced its president and chief operating officer John Schaefer has resigned effective today “to pursue another opportunity.”


enCore Energy Corp. (EU-X) announced an upsized bought-deal financing to $25-million from $15-million. The company said it has an agreement with Clarus Securities Inc., on behalf of a syndicate of underwriters, to purchase about 16.3 million units for $1.53 each.

The company said it intends to use the net proceeds from the offering for general corporate and working capital purposes.

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