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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.

Hudson’s Bay Co. (HBC-T) said on Wednesday its second-quarter loss widened due to lower sales at its Lord & Taylor and Saks OFF 5th divisions.

Hudson’s Bay, which announced a joint venture on Tuesday of its European operations and Austrian rival Signa Holding, reported a net loss of $147-million, or 62 Canadian cents a share, in its North American operations for the quarter ended Aug. 4. That compared with a loss of $100-million, or 55 cents, a year earlier.

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Sluggish sales have dogged the company as Amazon.com Inc. and other online retailers lure consumers away from department stores. In all but one of the last ten quarters, HBC has posted losses.

Shares have fallen 6.2 per cent this year, compared with a 0.7 per cent decline in the benchmark Toronto stock index .

“There is still significant work to be done to improve our topline at Lord & Taylor and Saks OFF 5TH, which have not met expectations,” chief executive officer Helena Foulkes said in a statement on Wednesday.

Comparable sales in HBC’s department store group, which includes its Hudson’s Bay and Lord & Taylor banners, fell 3.8 per cent in the quarter from a year earlier, while sales at Saks OFF 5th, which offers discounted designer goods, dropped 7.6 per cent.

The company’s luxury Saks Fifth Avenue brand’s 6.7 per cent increase in sales couldn’t offset those declines.

Including its European business, Hudson’s Bay reported a net loss of $264-million, widening from $201-million a year ago, and deeper than the loss of $173-million that analysts expected, according to Thomson Reuters I/B/E/S.

-Reuters

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Namaste Technologies Inc. (N-X) says its Namaste Bahamas Inc. subsidiary signed a distribution agreement with BlueSky Biologicals Inc., a private British Columbia company. Namaste Bahamas will distribute BlueSky’s hemp-derived cannabidiol products in its UK and European marketplace.

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New Gold Inc. (NGD-T; NGD-N) has appointed Renaud Adams as the new president and CEO, effective today. Mr. Adams replaces Raymond Threlkeld, a director of New Gold who stepped in and led the company since his appointment in May 2018.

"Mr. Adams has 25 years of experience in the mining industry," the company said and was president and CEO of Richmont Mines Inc. from 2014 until the sale of the company to Alamos Gold in November 2017.

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Roots Corp. (ROOT-T) says second-quarter sales increased 3.6 per cent to $60.2-million from $58.1-million a year earlier, which was below analysts' expectations of $63.4-million. Comparable sales growth for the quarter was 1.1 per cent, which the company said it achieved “against strong Canada 150 sales in the prior year.”

The company reported a net loss of $4.1-million or 10 cents per share in the second quarter ended Aug. 4, compared to a loss of $3.2-million or 8 cents per share for last year's quarter ended July 29. Its adjusted net loss was $2.4-million or 6 per share compared to $1.4-million or 3 cents last year. Analysts were expecting an adjusted loss of 2 cents in the latest quarter.

CEO Jim Gabel said "negative store traffic trends are a concern in [the third quarter," but that "we will continue with our foundation-building work to best position Roots for long-term success."

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American Hotel Income Properties REIT LP (HOT.UN-T) said it has appointed John O’Neill as CEO effective Oct. 1. “Mr. O’Neill is an accomplished hospitality professional with over 30 years of experience in hotel investment, development and management,” the company stated. “John oversaw the management of AHIP’s hotel operations as the portfolio grew from 32 to 115 hotels over the past six years, while serving as president of ONE Lodging Management Inc. until Aimbridge Hospitality assumed AHIP’s hotel management duties in April 2018.”

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PRO Real Estate Investment Trust (PRV.UN-X) announced “transformative transactions” after markets closed on Tuesday, including the proposed acquisition of six commercial properties for an aggregate purchase price of $61.7-million as well as a public offering of $35-million of trust units. It also announced a plan to internalize management and graduate from the TSX Venture Exchange to the Toronto Stock Exchange.

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Source Energy Services Ltd. (SHLE-T) says it has entered into a three-year agreement with a multinational exploration and production company to provide Northern White frac sand for its Duvernay program. “The take or pay agreement will commence January 1, 2019 and allows for the customer and Source to expand volumes to further support the customer’s growing Canadian operations,” the company said.

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Currency Exchange International, Corp. (CXI-T) says its third-quarter revenues increased 16 per cent to $11.5-million. Net income increased 24 per cent to $2.4-million. “The increase in profitability is attributable to increased contributions from payments, increased margins from changes in currency mix and organic growth from wholesale and retail business lines,” the company said.

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NioCorp Developments Ltd. (NB-T) has further increased the maximum gross proceeds of its offering to $3-million from the original maximum of $2-million. Each unit will consist of one common share of NioCorp and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of NioCorp at a price of 75 cents, the company said.

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Extendicare Inc. (EXE-T) has appointed Dr. Michael Guerriere as its new CEO effective Oct. 22. He will be succeeding Tim Lukenda who the company previously announced is leaving. Mr. Guerriere is a current member of Extendicare’s board and has a diverse background with over 25 years of experience in medicine, healthcare and technology, the company said.

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Evertz Technologies Limited (ET-T) reported revenues of $103.1-million for the quarter ended July 31, which was in line with expectations and compared to $109-million for the quarter ended July 31, 2017. Net earnings were $17.4-million as compared to $13.2-million in the corresponding period last year. Earnings per share came in at 23 cents as compared to 17 cents in the corresponding period last year and below expectations of 25 cents.

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