Bauer hockey goalie masks are displayed for sale at an equipment store in Mississauga, Ontario. Performance Sports Group Ltd., the owner of the Bauer and Easton brands, filed for creditor protection in October.Cole Burston/Bloomberg
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Performance Sports Group Ltd. (PSG-T) the company behind Bauer and Easton sports gear, will seek court approval to sell its assets to Sagard Capital Partners LP and Fairfax Financial Holdings Ltd. for $575-million (U.S.).
No other qualified bids were submitted by the Jan. 25 deadline, the company said in a news release on Thursday.
The Sagard and Fairfax offer had been made as what's called a stalking horse bid when the Exeter, N.H.-based sporting-goods company filed for bankruptcy protection in Canada and the U.S. in October.
--Christine Pellegrini
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Western Forest Products Inc. (WEF-T) announced today the permanent closure of its South Vancouver Island Remanufacturing plant, which the company said is consistent with its strategy of consolidating operations in its recapitalized facilities.
The plant was indefinitely curtailed in March, 2016, and employees have been given jobs at other operations or received compensation for the closure, the company said.
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North American Energy Partners Inc. (NOA-T; NOA-N) says it has been awarded an overburden removal contract that it expects to generate more than $45-million in revenues this year.
"We are excited that we have been awarded a year-long overburden removal job with a committed scope of this magnitude," stated CEO Martin Ferron in a release. "This award is also significant in that it will be the first overburden removal work we have done on this particular site in several years."
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RDM Corp. (RC-T) reported first-quarter revenue of $5.3-million, down slightly from $5.4-million a year earlier.
Net income was $896,000 or 4 cents per share compared to $1-million or 4 cents a year ago, and in line with analyst expectations.
The company announced that it would increase its quarterly dividend by 25 per cent to 2.5 cents per share.
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NeuLion Inc. (NLN-T) has been selected by Seminole State College of Florida to build its first official athletic website and provide a digital video solution for live and on-demand content.
"Seminole State is excited to partner with NeuLion to provide Raiders fans with a premium destination to enjoy and engage with the school's athletic content," said Seminole State's Director of Athletics, Kurt Esser in a release. "The customer support and resources that NeuLion provides are crucial to a small athletic department like ours and what we can offer to our fans."
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Mountain Province Diamonds Inc. (MPVD-T; MPVD-Q) reported the results of its first diamond sale. It said 49,420 carats were sold for proceeds of about $6.27-million (U.S.) representing an average price of $127 per carat.
Approximately 75 per cent of the parcels offered were sold, the company said in a release.
"Our first diamond sale was well attended with 96 companies bidding for individual parcels," stated CEO Patrick Evans in a release. "The introduction to the market of first production from a new mine is a price discovery exercise with buyers naturally cautious. As our production volumes increase and the market becomes more familiar with our diamonds, we expect interest to grow. The level of demand for our smaller lower-quality diamonds was disappointing, but we expect improvements as Indian liquidity issues abate."
The company is a 49-per-cent participant with De Beers Canada in the Gahcho Kué diamond mine in the Northwest Territories.
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Capstream Ventures Inc. (CSP-X) says Shogo Suzuki has resigned as chief financial officer for personal reasons.
Christopher Bagguley, group director of finance has been appointed interim CFO.
"Shogo has made invaluable contributions to the company in our first year as a public company. We are grateful for Shogo's contributions, his ongoing assistance, and wish him well in his future endeavors," stated CEO Todd Bonner in a release.