TMX Broadcast Centre manager Kris Backus walks in front of the centre's display board in Toronto on Monday May 16, 2011. Effective June 1, TMX Group plans to rejig its so-called “maker-taker” model that will affect trading on the Toronto Stock Exchange, the TMX Venture Exchange and the TSX Alpha Exchange.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.
AlarmForce Industries Inc. (AF-T) reported second quarter revenue of $14.5 million, up 3 per cent from $14 million over the same period in 2015.
Net income grew 6 per cent to $1.8 million year-over-year.
"These changes were driven by the decrease in selling and marketing expenses, partially offset by an increase in amortization and general and administrative expenses," the company said.
It said diluted earnings per share increased to 16 cents compared to 15 cents in the same period of 2015.
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Cardiome Pharma Corp. (CRME-Q, COM-T) says it has entered into a term loan agreement with CRG managed funds, where it will receive up to $30 million of available borrowing capacity.
CRG and its managed funds will initially provide $20 million which Cardiome said will be used to retire existing debt and for general working capital purposes.
The other up to $10 million of additional funding will be available in two tranches, through June 2017.
The interest rate is 14 per cent per year, the company said.
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Torex Gold Resources Inc. (TXG-T) is doing a 10-for-one consolidation of its shares, effective June 30.
It will go from 787 million common shares to 78.7 million, as approved by shareholders at the annual meeting.
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Primero Mining Corp. (P-T, PPP-N) says it has bought a large concession area adjacent to its San Dimas mine in Durango, Mexico.
The company said it has added 30,192 hectares covering most of the area between the San Dimas mine and the Ventanas exploration property located 32 kilometres to the south.
"We are very pleased to have significantly increased our position around our flagship San Dimas mine," stated CEO Ernest Mast said in a release. "The acquisition of this key mineral concession area further advances our strategic goal of mining outside of the original San Dimas mining concession from areas not covered by the silver purchase agreement with Silver Wheaton. This would provide significant benefit to the Company as mining from this area would increase our revenues and therefore our taxable income."
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NGEx Resources Inc. (NGQ-T) says it plans to spin out its Filo del Sol property into a wholly owned subsidiary called Filo Mining Corp., a silver-copper-gold deposit that straddles the border between Argentina and Chile.
"The arrangement is designed to deliver greater value to shareholders by unlocking the value of the Filo del Sol Project and the company believes that it will also minimize dilution of the Constellation Project," it said in a release.
NGEx said it will hold a 100-per-cent interest in the project and focus on its advancement.
The arrangement will include a transfer of the project, along with about $3 million in cash, to Filo Mining.
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Black Diamond Group Ltd (BDI-T) says it has been awarded a workforce housing camp renewal in the Duvernay region of northwest Alberta.
"The renewal for 354 beds will generate rental revenue of $6.6 million over its three-year term and will commence July 1," the company said in a release.
"We believe this renewal is indicative of the oil and gas market stabilizing in Western Canada and the improving confidence of resource developers making longer term commitments," stated CEO Trevor Haynes.
"Furthermore, our business is beginning to strengthen with the commodity price recovery, along with increased infrastructure spend across North America."
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NuVista Energy Ltd. (NVA-T) says it has taken steps to increase "growth, value, and liquidity," including the sale of its W6 Deep Basin Non-Montney Asset, the placement of senior unsecured notes and increased spending.
"These steps, together with recent strengthening of commodity strip prices, allow us to provide a profitable, fully funded growth plan for 2016 and 2017 while maintaining a strong balance sheet," the company said in a release.
It said the sale of the W6 natural gas assets are in exchange for $70 million in cash and "certain Wapiti area Montney lands."
It said proceeds from the sale will be used to repay debt.
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Richmont Mines Inc. (RIC-N, RIC-T) says it's being added to the S&P/TSX Global Mining Index and the S&P/TSX Global Gold Index, effective after the close of trading on Friday, June 17.
"The addition of Richmont to the S&P/TSX Global Mining and Global Gold Indices is another important milestone for Richmont and recognizes the progress we continue to make in unlocking the potential of the Island Gold Mine," stated CEO Renaud Adams in a release.
"We are confident that the inclusion in these indices will improve trading liquidity and expose Richmont to a much broader range of investors."
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Endeavour Mining (EDV-T) says it plans to raise $125 million in a bought deal with a syndicate of underwriters led by BMO Capital Markets.
The arrangement is to buy 6.3 million shares at $20 each.
"The net proceeds of the offering are intended to be used to accelerate Endeavour's organic growth potential by significantly expanding the current exploration programs in a long-term strategic exploration initiative leveraging Endeavour's high-quality West-African exploration portfolio, for the potential development of the Ity CIL project and for general corporate purposes,"the company said in a release.
It also said La Mancha Holding S.àr.l. will be purchasing a minimum of $15 million shares on the same terms and conditions.
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TransForce Inc. (TFI-T) says it has appointed David Saperstein as vice president, mergers and acquisitions, effective June 28,.
"The appointment of David Saperstein will allow TransForce to provide a continuous focus on M&A and to continue its successful strategy of growing through selective acquisitions," stated CEO and chairman Alain Bédard in a release.
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Calian Group Ltd. (CGY-T) says it has been awarded the Information Technology Service Management (ITSM) support services contract with the Department of National Defence (DND).
The company said the contract is for one year and includes two additional one year option periods for a total estimated value of $3 million.
"The key objective of the ITSM Project is to implement required systems, tools and services to address the rationalization and optimization of IT services across DND - based on the concept of centralized control and execution to support the evolution of enterprise service delivery and management," the company said in a statement.
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More to come