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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news

VersaBank (VBNK-T) reported revenue of $18.6-million for its second quarter ended April 30, up from $16-million a year ago. The expectation was for revenue of $19.2-million, according to S&P Capital IQ.

Net income of $4.9-million or 17 cents per share compared to net income of $5.7-million or 25 cents per share for the same period a year ago. The expectation was for EPS of 21 cents.


Laurentian Bank of Canada (LB-T) increased its dividend and reported a second-quarter profit of $59.5-million, up from $53.1-million a year ago, its most profitable quarter since 2018.

Net income came in at $59.5-million or $1.34 per share for the quarter ending April 30, up from $53.1-million or $1.15 per share in the same quarter a year earlier. Adjusted EPS came in at $1.39 per share, ahead of expectations of $1.15 per share and above $1.23 a year a year.

Revenue totalled $259.6-million compared with $249.8-million a year ago and was ahead of expectations of $249.8-million.

Laurentian says its provision for credit losses amounted to $13-million for the quarter compared with $2.4-million a year earlier.

The company increased its quarterly dividend by a penny per share to 45 cents, payable Aug. 1 to the holders of record at the close of business on July 4.

- with files from The Canadian Press


IBI Group Inc. (IBG-T) announced it has acquired New Brunswick-based mobility solutions provider HotSpot.

The platform is used across North America by more than 80 municipalities, cities and universities, and 460,000 mobile application users, the company stated.

“HotSpot’s suite of solutions will complement and bolster IBI’s traffic and transportation practice and its extensive offering of products and solutions that have been deployed globally,” the company stated.


Saturn Oil & Gas Inc. (SOIL-X) announced an agreement to acquire “synergistic assets” in the Viking area of West-central Saskatchewan for approximately $260-million.

The company announced a $65-million bought-deal financing as part of the transaction. It has an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp. and Eight Capital to issue and sell, approximately 23.6 million subscription receipts for $2.75 each.


Bonterra Energy Corp. (BNE-T) announced that it has finalized an amended and restated credit agreement with its syndicate of lenders. It said the agreement “improves alignment with the company’s debt reduction goals and results in decreased interest costs on bank debt going forward.”

It includes a $165-million borrowing base, comprised of a $150-million revolving credit facility and a $15-million operating facility, among other features.


Dream Impact Trust (MPCT-UN-T) announced a $40-million financing. It has an agreement to sell to a syndicate of underwriters, led by TD Securities Inc. and Scotiabank, $40-million in convertible impact unsecured subordinated debentures for $1,000 each.

The company said the net proceeds from the debentures are intended to be used for expenditures associated with “eligible impact investments.” The trust said it’s in advanced stages of negotiation for over $55-million of income properties.


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