A real estate sold sign hangs in front of a west-end Toronto property in this file photo.Graeme Roy/The Canadian Press
Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Home Capital Group Inc. (HCG-T) announced board and management changes on Monday.
It said founder Gerald Soloway will step down from the board "when a replacement with recognized expertise in financial services is named."
Robert Blowes will assume the role of interim chief financial officer following the filing of the company's first-quarter results, the company said.
CFO Robert Morton will assume responsibilities for "special projects outside the financial reporting group."
The company also said the Bank of Nova Scotia will resume sales of Home Trust deposit products today, subject to a $100,000 per-client cap.
"These are important steps in rebuilding confidence and putting the focus back on our profitable underlying business and its solid performance," said Kevin Smith, chair of the board of Home Capital in a release. "We know that we have not met the full expectations of some of our valued stakeholders, which we deeply regret. These changes will ultimately result in enhanced management and governance leadership, and bring valuable new perspectives to Home Capital."
There have been calls for both Messrs. Soloway and Morton to leave the company in light of a regulatory probe over alleged securities-laws violations. Last week, the OSC accused the company of making "materially misleading statements" to investors in a statement of allegations.
**
Slate Retail REIT (SRT.UN-T) is buying Eustis Village in the Orlando area for $23-million (U.S.)
The property is 97-per-cent occupied and anchored by a Publix grocery store, the company said.
**
Wall Financial Corp. (WFC-T), a B.C.-based real estate company, reported fourth-quarter revenue of $63.3-million down from $72.1-million a year earlier.
Net earnings were $17,734 or a penny per share compared with $15.7-million or 48 cents a year ago.
**
Chorus Aviation Inc. (CHR-T) says it has agreements to buy six ATR 72-600 aircraft with attached leases from Avation PLC.
Three of the aircraft are currently on lease to U.K. carrier Flybe, and three to Virgin Australia Airlines, the company said.
"This investment further demonstrates the targeted expansion and growth strategy for Chorus into regional aircraft leasing," said CEO Joe Randell. "We are building a leading global regional aircraft lessor and look forward to announcing additional opportunities in the months ahead."
It said the price of the aircraft "is consistent with current market values for similar aircraft."
It plans to finance the purchase using a combination of debt financing and cash.
**
First Global Data (FDG-T) says it has signed an agreement with Avenues Payments India for global remittances and payments.
"Avenues owns and operates www.remitguru.com and other web portals which provide comprehensive Internet and mobile-based digital platforms to individuals and businesses for the remittance of funds cross border to beneficiaries, both individuals and businesses, in India and other countries," the company said
First Global says it will provide license coverage in various countries including Canada and the U.S. for the origination of transactions and its mobile wallet and distribution services.
Last year India received approximately $72-billion (U.S.) and is the largest remittance recipient in the world, the company said.
**
Currency Exchange International, Corp. (CXI-T) appointed Stephen Fitzpatrick as CFO of the company and its subsidiary, Exchange Bank of Canada as of May 8.
Mr. Fitzpatrick was most recently CFO a the Canadian Credit Union Association.
**
Precision Drilling Corp. (PD-T; PDA-N) reported first-quarter revenue of $346-million, up 15 per cent over the prior year quarter. Analysts were expecting revenue of $351.9-million.
Its net loss was $23-million or 8 cents per share compared with a net loss of $20-million or 7 cents in the prior year period.
Adjusted EBITDA was down 15 per cent to $84-million.
"The rebound which began in mid-2016 has continued unabated through the first quarter of 2017," said CEO Kevin Neveu. "During the quarter, we activated 17 rigs in the U.S. growing from 39 to 56 operating rigs by the end of the quarter. In Canada, we experienced a seasonal peak of 91 active rigs, almost 50 per cent higher than the same quarter of 2016 with our total drilling days up 71 per cent over last year. With three consecutive quarters of increased activity, all signs point to a strengthening recovery and Precision has responded as promised, rehiring more than 2,000 field personnel and activating over 100 rigs from 2016 trough activity."
**
NorthWest Healthcare Properties Real Estate Investment Trust (NWH.UN-T) says an Australian division of the REIT has made an all-cash, unconditional, off-market takeover offer for the units it doesn't own of Australia's Generation Healthcare REIT (GHC.AX-A).
"The offer provides Generation unitholders with the opportunity to access meaningful liquidity at certain value," the company said. "NorthWest Australia considers that the likelihood of a competing proposal is low given NorthWest Australia's current 22.73 per cent relevant interest in Generation."
**
Killam Apartment Real Estate Investment Trust (KMP.UN-T) says it has formed a joint venture with RioCan Real Estate Investment Trust (REI.UN-T) to develop a rental residential community at Gloucester City Centre in Ottawa.
Last week, Killam acquired a 50-per-cent interest in development site located adjacent to RioCan's Gloucester Silver City Shopping Centre for $8-million.
RioCan and Killam each own a 50-per-cent interest in the land and will participate on the same basis in the costs to develop the project, the companies said in a release.
"This joint venture is an exciting opportunity for Killam," said CEO Philip Fraser, saying it aligns with the company's growth plans.
"Despite recently announced expanded rent control guidelines in Ontario to include apartments built after 1991, new apartment development continues to be a sound strategy."
**
Kirkland Lake Gold Ltd. (KL-T) says it has acquired about 10 million units of Metanor Resources Inc. (MTO-X) for 70 cents each or $7.25-million.
Kirkland Lake says it now owns 10.3 million shares and 5.2 million warrants, representing a 13.7-per-cent stake. Before the acquisition, Kirkland Lake Gold did not hold any shares of Metanor.
"The units were acquired for investment purposes," the company said.
**