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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.

Canfor Corp. (CFP-T) reported sales of $1.15-billion in the first quarter down from $1.23-billion for the same quarter a year ago. Its net loss was $89.5-million or 71 cents per share versus net income of $112.2-million or 87 cents a year ago. Its adjusted loss was 29 cents per share versus a profit of $1.13 per share a year ago. Analysts were expecting revenue of $1.16-billion and a loss of 24 cents per share in the first quarter of 2019.

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Canfor Pulp Products Inc. (CFX-T) reported sales of $304-million in the first quarter, down from $359.7-million a year ago. Net income was $10.8-million or 17 cents per share down from $64.3-million or 99 cents a year ago. Analysts were expecting revenue of $314-million and earnings of 26 cents per share in the first quarter of 2019.

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Calfrac Well Services Ltd. (CFW-T) reported first-quarter revenue of $475-million, a decrease of 19 per cent from the same period in 2018. Its net loss attributable to shareholders was $36.3-million or 25 cents per share compared to income of $3.2-million or 2 cents per share in the same period last year. Analysts were expecting revenue to come in at $467.4-million and a loss of 9 cents per share in the first quarter of 2019.

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Slate Retail REIT (SRT.UN-T) reported net income of US$1.6 million in the first quarter, a decrease of US$25.1 million from the same quarter in the prior year. “This is primarily due to the decrease in unit income and [an] increase in deferred tax expense from the prior quarter, partially offset by an increase in the change in fair value of properties,” the company stated.

Rental revenue was US$36.4 million, a decrease of US$0.1 million over the same period in the prior year "due to the disposition of four properties and 12 outparcels, partially offset by rental rate growth from re-leasing at rates above in-place rents and new leasing," the company stated.

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Rocky Mountain Dealerships Inc. (RME-T) reported first-quarter sales of $177.7-million compared with $219.7-million for the same period in 2018, due primarily to “a decline in same-store new equipment sales for the quarter as we limit presale activity and focus on distributing existing inventory.” Analysts were expecting revenue of $236-million in the latest quarter.

Its net loss was $3-million or 16 cents per share versus a loss of $486,000 or 2 cents a year earlier.

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Emerald Health Therapeutics, Inc. (EMH-X) reported fourth-quarter revenue of $1.1-million up from $279,362 a year earlier and below expectations of $1.8-million. Its net loss was $13.9-million or 10 cents per share versus a loss of $4-million or 4 cents a year earlier.

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Guyana Goldfields Inc. (GUY-T) reported first-quarter revenue of US$46.7-million down from US$50.7-million a year earlier. Its net loss amounted to US$2.3-million or a penny per share versus a profit of US$8.4-million or 5 cents a year earlier. Analysts were expecting a loss of a penny per share and revenue of US$50-million in the latest quarter.

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Morguard North American Residential REIT (MRG.UN-T) announced net operating income of $16.8-million for the three months ended March 31, a decrease of 1.6 per cent compared to the same period in 2018. Net income of $3.7-million compared to $80.4-million for the same time in 2018.

The REIT said the decrease in net income was due to a number of factors, including a decrease in net fair value gain on real estate properties of $43.6-million, an increase in fair value loss on Class B LP Units of $44.3-million and a decrease in income taxes (current and deferred) of $15.9-million.

Basic funds from operations increased to $15.2-million or 30 cents per unit, which was in line with expectations and compared to $14.7-million or 29 cents per unit in 2018.

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Polaris Infrastructure Inc. (PIF-T) announced a private placement offering to raise $12-million in convertible debentures conducted through a syndicate of agents, co-led by Cormark Securities Inc. and Clarus Securities Inc.

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The company said intends to use the net proceeds "for general corporate purposes and to provide the flexibility to pursue further corporate development opportunities in Peru and similar jurisdictions in Latin America."

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McEwen Mining Inc. (MUX-T; MUX-N) reported a first-quarter loss of $10.1-million or 3 cents per share versus a loss of $5.2-million or 2 cents per share for the same quarter a year earlier. Analysts were expecting a loss of $11-million or 4 cents per share in the latest quarter

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North American Construction Group Ltd. (NOA-N; NOA-T) reported first-quarter revenue of $186.4-million, compared to $114.7-million for the prior year. Net income was $7.2-million down from $11.1-million a year earlier.

Adjusted EBITDA for the quarter was $52.1-million, which was above expectations of $49.2-million and compared to $39.1 million for the prior year.

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Prism Resources Inc. (PRS-X) announced that it filed a statement of claim in the Ontario Superior Court of Justice against Detour Gold Corp. (DGC-T), seeking general damages of $10-million. According to the release, the company is also seeking “special damages, costs and interest, as well as a declaratory judgment that its 7.5-per-cent net profit interest in the Aurora and Sunday Lake claim block owned by Detour is valid charge and enforceable as against Detour.”

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