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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.

Lassonde Industries Inc. (LAS.A-T) announced that two of its subsidiaries have entered into an agreement with subsidiaries of The Jim Pattison Group to acquire Kelowna, B.C.-based fruit-based snack and beverage manufacturer Sun-Rype Products Ltd. and two U.S. affiliates located in Washington State for about $80-million in cash.

Lassonde will also assume $21 million in lease liability related to long-term facility leases.

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“This transaction is part of our strategy of constant and measured growth and will strengthen our presence in the Canadian and U.S. markets,” said Nathalie Lassonde, CEO of Lassonde.

**

North American Construction Group Ltd. (NOA-T; NOA-N) reported revenue of $166.3-million in the third quarter, compared to $84.9-million for the prior year and ahead of expectations of $154.1-million.

Net income was $7.6-million or 26 cents per share versus $1.5-million or 5 cents a year ago. Analysts were expecting EPS of 13 cents.

Adjusted EBITDA for the quarter was $37.2-million or 41 cents compared to $19.1-million or 19 cents for the prior year.

Adjusted net earnings of $10.5-million in the quarter was $5.9-million higher than the prior-year, the company stated.

**

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Slate Retail REIT (SRT.UN-T) reported rental revenue of US$34.5-million in the third quarter, a decrease of US$1.2 million over the same period in the prior year. Net income for the quarter was US$4.5 million, an increase of US$5.5 million from the same quarter in the prior year, “primarily due to the change in fair value of properties.”

The REIT also approved an increase of its monthly distribution by 1.1 per cent to 7.2 cents per unit or 86.4 cents.

**

Morguard North American Residential REIT (MRG.UN-T) reported third-quarter net operating income of $38-million, a decrease of 0.4 per cent compared to 2018.

Basic funds from operations of $16.1-million or 31 cents per share which was in line with expectations and compared to $15.5-million or 30 cents over the same period in 2018. Its net loss of $1.4-million compared to net income of $25-million over the same period in 2018.

The REIT has also announced it will increase its annual cash distribution by 2 cents per unit or 2.94 per cent. This will bring the distributions to 70 cents per unit on an annualized basis from the current level of 68 cents, the company stated.

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**

goeasy Ltd. (GSY-T) announced it has completed an amendment to its senior secured revolving credit facility provided by a syndicate of banks. The amendment increased the maximum principal amount available by $120.5-million in borrowing capacity, increasing the limit from $189.5-million to $310-million.

“The increase to our credit facility, accompanied by a further reduction in the interest rate, demonstrates the continued confidence our lenders have in the ability to execute on our business strategy,” said Jason Mullins, goeasy’s CEO. “With this amendment, our weighted average interest rate when our facilities are fully drawn reduces from 6.8% to 6.5% and the liquidity to fund our growth plan is extended through to the first quarter of 2021.”

**

Emerald Health Therapeutics, Inc. (EMH-X) announced an internal reorganization including cutting 20 employees. The company also said it’s “reinforcing its commitment to new product development focused on enhancing the modulation of the body’s endocannabinoid system.” It said the changes are focused on improving cash flow in the near term with a goal of building long term profitability.

“Although such decisions are difficult, we will evolve our strategy, structure, and capabilities as necessary to be able to capitalize on key trends in the changing cannabis sector,” said executive chairman Avtar Dhillon in a release.

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Emerald said it eliminated approximately 20 staff positions on Tuesday and has reduced its workforce by approximately 65 staff positions, or 33 per cent, since August 1.

The reductions include the departure of chief financial officer Rob Hill and chief operating officer Sean Rathbone. Jenn Hepburn, previously director of finance, has been appointed CFO effective immediately. Mr. Dhillon, currently president and chairman of Emerald, will cease to be president and will continue as executive chairman. CEO Riaz Bandali will continue as president and CEO.

**

Torstar Corp. (TS.B-T) suspended its quarterly dividend as it reported a $40.9-million loss attributable to shareholders in its latest quarter.

The publisher of the Toronto Star newspaper says it suspended the regular payment to shareholders of 2.5 cents per share as part of its plan to preserve its cash and strengthen its financial position.

The board of directors plans to review the dividend policy again in the fourth quarter of 2020, the company says.

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The decision came as Torstar reported a loss of 50 cents per share for the quarter ended Sept. 30 compared with a loss attributable to shareholders of $18.8 million or 23 cents per share in the same quarter last year. Operating revenue fell to $111.8 million compared with $126.4 million.

On an adjusted basis, Torstar says it lost 21 cents per share in its most recent quarter compared with an adjusted loss of 22 cents per share in the same quarter last year.

Analysts on average had expected $112 million of revenue and an adjusted loss of 15 cents per share, according to financial markets data firm Refinitiv.

-The Canadian Press

**

Namaste Technologies Inc. (N-X) reported third-quarter revenue of $3.8-million, compared to $3.9-million a year ago, a change it says reflects “the company’s ability to rebuild revenue after discontinuing certain web properties and select businesses.”

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The net loss for the quarter ended Aug. 31 was $14.7-million or 5 cents per share compared to $8.7-million or 3 cents in the comparable quarter in the prior-year quarter. “The change in net loss reflects the increase of professional or legal fees related to the class action settlement and an impairment charge to goodwill,” the company stated.

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