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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.

CannTrust Holdings Inc. (TRST-T; CTST-N) announced that the special committee of the company’s board of directors has retained Greenhill & Co. Canada Ltd. as its financial adviser to assist in a review of strategic alternatives. “These alternatives could include, among other things, a sale of the company or a portion thereof, a strategic investment, a business combination, changes to the company’s operations or strategy, or continuing to execute on the company’s current business plan,” the company stated.

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Cargojet Inc. (CJT-T) reported evenues were $119.1-million in the second quarter, an increase of 9.3 per cent versus the previous year and in line with expectations. Adjusted EBITDA was $37.5-million, an increase of $8.7 million or 30.2 per cent versus the previous year.

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Equitable Group Inc. (EQB-T) increased its dividend and reported record financial results for the three months ended June 30. The company also announced its intention to grow its dividend at a rate of 20-to-25 per cent per year in each of the next five years, up from its previously stated target of more than 10 per cent per year.

Net income was $54-million or $3.15 per share versus $37.5-million or $2.19 per share a year earlier. Adjusted diluted earnings per share were a record $3.18, up 31 per cent from $2.43 a year ago. Analysts were expecting adjusted earnings of $2.77 per share.

The board declared a dividend of 33 cents per common share, which the company said its a 22-per-cent increase over the dividend declared in August 2018.

**

Secure Energy Services Inc. (SES-T) reported revenue of $793.5-million up from $719.9-million a year earlier and ahead of expectations of $722.8-million. Its net loss attributable to shareholders was $1.7-million or a penny per share versus a loss of $6.9-million or 4 cents a year earlier. Analysts were expecting a loss of 2 cents per share.

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Morguard North American Residential REIT (MRG.UN-T) reported net operating income of $39-million for the three months ended June 30, an increase of $700,000 or 1.7 per cent compared to the same period a year earlier. Basic funds from operations of $15.7-million or 31 cents per unit compared to $15.7-million or 31 cents per unit for the same period in 2018. Analysts were expecting FFO of 36 cents per unit. Net income of $41.9-million compared to $19.7-million a year earlier.

**

Northern Dynasty Minerals Ltd. (NDM-T) announced that the U.S. Environmental Protection Agency has withdrawn a proposed determination attempting to “veto southwest Alaska’s Pebble Project before it received an objective, scientific regulatory review under the National Environmental Policy Act.”

"Today's announcement means the Environmental Impact Statement and permitting process for the Pebble Project currently being led by the U.S. Army Corps of Engineers may advance to a final Record of Decision in 2020 without the cloud of uncertainty created by EPA's unprecedented, pre-emptive regulatory action," stated Northern Dynasty CEO Ron Thiessen. "The Corps expects to finalize the Pebble EIS in early 2020 and issue a final Record of Decision by the middle of next year."

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First National Financial Corp. (FN-T) reported that its mortgages under administration increased 6 per cent in the second quarter to $109.6-billion from $103.6-billion for the same quarter a year ago. Revenue increased 15 per cent to $335.2-million from $290.9-million a year earlier. Net income was $44.2-million or 72 cents per share which is in line with expectations and compared to $46.3-million or 76 cents per share a year ago.

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MEG Energy Corp. (MEG-T) recognized a net loss of $64-million or 21 cents per share in the second quarter compared to a net loss of $179-million or 61 cents per share during the second quarter of 2018. Adjusted funds flow of $227-million compared to $18-million in the second quarter of 2018.

**

Acadian Timber Corp. (ADN-T) reported sales of $17.9-million in the second quarter compared to $16.1-million in the prior-year period and ahead of expectations of $15.2-million. Net income of $5.8-million or 35 cents per share compared to $1.9-million or 11 cents per share a year ago.

"The variance from the prior-year period is primarily due to an unrealized foreign exchange revaluation gain on U.S. dollar-denominated long-term debt during the second quarter, compared to an unrealized loss in the prior-year period," the company stated.

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Dirtt Environmental Solutions Ltd. (DRT-T) reported revenue of $85.6-million in the second quarter, up 6 per cent from $80.7-million a year earlier. Net income of $3-million or 3 cents per share compared to net income of $800,000 or a penny per share a year earlier. Analysts were expecting revenue to come in at $89.2-million and earnings of 5 cents.

**

North American Construction Group Ltd. (NOA-T; NOA-N) reported second-quarter revenue was $176.9-million, compared to $79.5-million for the prior year and ahead of expectations of $161.1-million. Net income was $13.9-million or 45 cents per share compared to $33,000 or nil pe share a year ago. Analysts were expecting earnings of 21 cents per share.

expecti

Real Matters Inc. (REAL-T) reported third-quarter revenue of $91.4-million up from $73.5-million a year earlier and ahead of expectations of $81.4-million. Net income was $4.4-million or 4 cents per share versus $900,000 or a penny per share a year earlier. Analysts were expecting earnings of 5 cents.

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Slate Retail REIT (SRT.UN-N) reported second-quarter rental revenue was $36-million, an increase of $300,000 over the same period in the prior year.

Funds from operations was $13.6-million or 31 cents per unit, a decrease of 1 cent per unit from the same period in the prior year and in line with expectations. Net income for the quarter was $5.9-million, an increase of $20.1-million from the same quarter in the prior year due to “increases in rental revenue, decreases in unit expense over the prior quarter due to the classification of REIT units as equity effective May 11, 2018 and a decrease in fair value of exchangeable units of subsidiaries,” the company stated

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