A look at some small-cap stocks making news - or about to.
Canada’s S&P/TSX Small Cap Index (TXTW-I) is up by about 77 per cent over the past 52 weeks as of Thursday’s close. It hit a record 1,472.51 on March 2. The Russell 2000 in the U.S. is up about 43 per cent over the past 52 weeks. It hit a record of 2,888.62 in Wednesday trading.
Small-cap summary:
Ag Growth International Inc. (AFN-T) shares rose on Friday after the company announced that it struck an agreement with activist shareholder Plantro Ltd. on board appointments. It also said a committee is being set up to formally oversee a strategic review.
According to a release, Ag Growth has agreed to appoint Mick MacBean and Gary Anderson to the board following the upcoming annual and special meeting of shareholders on June 4.
As part of the cooperation agreement, Plantro has withdrawn its previously announced notice of its intention to nominate three individuals for election as directors at the annual meeting.
“We appreciate our constructive engagement with Plantro and are pleased to have come to a mutually acceptable outcome,” said board chair Daniel Halyk. “This development allows AGI to continue to focus on the execution of its restructuring plan with a view to maximizing shareholder value.”
As part of the deal, Jean-Philippe Choquette has decided to resign from the board immediately following the annual meeting.
Also, Ag Growth has agreed to establish a strategic committee of independent directors to oversee a formal review of strategic alternatives to maximize shareholder value.
“The company has committed to commencing the strategic review process within the next nine months. One of Mr. MacBean or Mr. Anderson will be a member of strategic committee,” the release states.
Earlier this week, Ag Growth reported lower revenue and a wider loss for its fourth quarter, results which one analyst described as “not a disaster vs. scaled down expectations.”
After markets closed on Wednesday, the company announced revenue of $282.2-million for the quarter ended March 31, down from $286.7-million a year earlier. The result was ahead of expectations of $270.2-million, according to S&P Capital IQ.
Adjusted EBITDA of $25.2-million was down from $31.3-million a year earlier and roughly in line with expectations of $24.5-million.
Its adjusted loss was $5.4-million or 29 cents per share versus a loss of $4.8-million or 26 cents a year ago.
In its outlook, the company said its order book was down 19 per cent year over year to $589-million as of March 31.
The company said its farm segment order book improved year over year. “Although encouraging, it remains below historic levels and market conditions remain challenging,” it stated.
It also said its commercial segment order book was down year over year, “driven by cautious customer behaviour and fewer project awards in North America and internationally, with a partial offset from momentum in traditional equipment‑only project wins in Brazil."
National Bank analyst Maxim Sytchev described the results as “not a disaster vs. scaled down expectations,” in a first-look note after the results.
“Bottom line – with so much leverage and farm economics under pressure, we would rather sit this one out,” said the analyst, who has a “sector perform” (hold) and a $24 price target on the stock.
“Farming is a cyclical business and saying, ‘just wait for the sun to shine and fertilizer pricing to come down’ is easy if we did not have the balance sheet pressure,” he wrote. “The backlog decline (despite the q/q movement up) is real, so is the lack of FCF, multitude of adjustments on EBITDA, etc. makes this a very tough situation to get a good read on to have any type of conviction of a positive risk/reward skew.”
Added Mr. Sytchev: “Some are clearly hoping for a takeout but don’t forget that Kepler is technically still available, providing the best exposure to Brazil without the operational / balance sheet pressure.”
TD analyst Michael Tupholme described the results as “slightly positive for share price near term,” in a note.
“While broader ag market challenges persist, encouragingly, Brazil A/R monetization and AFN’s restructuring are progressing well,” he wrote. “Post-Q1/26, AFN saw ~$105mm of Brazil A/R released from escrow; will support debt reduction. Meanwhile, AFN now expects its restructuring efforts to yield at least $30mm of annualized cost savings (vs. $20mm prior).”
He has a “buy” and a $22 target on the stock
After markets closed on Thursday, Ag Growth announced that interim CEO Paul Brisebois has assumed that role on a permanent basis.
**
Extendicare Inc. (EXE-T) shares surged on Friday after the company reported first-quarter results that beat expectations.
After markets closed on Thursday, the seniors’ home and long-term care company reported revenue of $465.2-million, up from $374.7-million a year earlier. The result was above expectations of $437.4-million, according to S&P Capital IQ.
Adjusted EBITDA increased to $52.9-million from $35.6-million a year earlier and was ahead of expectations of $39.7-million.
Net earnings increased to $40.7-million or 42 cents per share compared with $15-million or 18 cents last year.
Adjusted funds from operations (AFFO) increased to $32.7-million or 34 cents per share from $19.8-million or 24 cents last year. The expectation was for AFFO of 28 cents.
TD analyst Jonathan Kelcher described the results as “positive” in a note.
“EXE delivered another strong beat in Q1, and we expect a positive reaction to the share price,” he wrote.
National Bank Financial analyst Giuliano Thornhill described it as “another operationally strong quarter” in a note.
“HHC [home health care] volumes once again accelerated, pushing well beyond seasonal norms on both volumes and margins,” he wrote. "As we previously highlighted, hospital capacity constraints are creating structural tailwinds for HHC and LTC [long-term care] operators. EXE remains in a favourable operating period with subdued policy risks. While valuation is likely to become a more common point of debate, we view current levels as justified given EXE’s double-digit earnings growth profile and compounding potential."
He added: “Importantly, we view this as a multi-year structural dynamic, not a cyclical one.”
**
Well Health Technologies Corp. (WELL-T) shares dropped on Friday after the company reported its first-quarter results.
After markets closed on Thursday, the company reported revenues of $368.3-million for the quarter, up 25 per cent from $294-million last year. The result beat expectations of $366.4-million, according to S&P Capital IQ.
Adjusted EBITDA of $43.1-million was up from $27.6-million last year and ahead of expectations of $40.6-million.
Adjusted net income of of $15.5-million or 6 cents per share was in line with expectations and up from $7.5-million or 3 cents a year earlier.
The company also reaffirmed its previously provided guidance for annual revenue between $1.55-billion to $1.65-billion with adjusted EBITDA in the range of $175-million to $185-million.
Stifel analyst Justin Keywood said the results were in line with his expectations, “showing continued solid growth +25% y/y, including 13% organic expansion for the Canadian clinic network, where it holds #1 share but only ~1.5% and long runway to consolidate.”
He said the company continues to assess strategic alternatives for its U.S. assets, “but M&A is not reliant on divestitures, including potential use of an expanded credit facility (up to ~$500mm).”
**
NFI Group Inc. (NFI-T) reported mixed first-quarter results that some analysts viewed as positive.
After markets closed on Thursday, the Winnipeg-based bus maker reported revenue of US$842-million, relatively flat compared to US841.4-million last year. The result was below expectations of $914.9-million, according to S&P Capital IQ.
Net earnings of US$11.5-million or 10 cents US per share compared to a loss of US$6.5-million or 5 cents US last year.
On an adjusted basis, earnings were US$21.8-million or 18 cents US per share versus US$2.9-million or 2 cents last year. The expectation was for adjusted EPS to come in at 17 cents US.
Adjusted EBITDA of US$86.1-million was up from US$62.7-million last year and ahead of expectations of US$79.8-million.
“We delivered a strong start to 2026, with first-quarter results reflecting continued progress in manufacturing execution. Profitability metrics improved with the conversion of our backlog into revenue, complemented by a strong contribution from the aftermarket segment,” said CEO John Sapp. “As we continue to increase vehicle production rates in transit, motorcoach and cutaway segments, our focus remains on driving supply chain performance while also enhancing the customer experience. Significant progress is being made on these initiatives and our team’s efforts will support further margin expansion and earnings growth.”
National Bank Financial analyst Cameron Doerksen described the results as “positive” in a first-look note and maintained his “outperform” (buy) and $22 target.
“Our constructive view on the stock is based on the following: (1) NFI has a ~$13 billion backlog that should facilitate bus delivery growth through 2027; (2) the company’s margins should benefit from ongoing tailwinds from better pricing in backlog as well as higher throughput; (3) supply chain issues, particularly around seats, have eased (seat issue on track to be fully resolved in Q2); (4) higher EBITDA and cash flows will bring leverage down, leading to lower interest expense,” he wrote.
TD analyst Tim James described the results as “slightly positive for share price” in a note.
“Revenue, new deliveries (-5% y/y) and transit bus pricing were each slightly lower-than-forecast, though we expect the market will look past given unchanged guide, positive industry commentary and other factors,” he wrote. “In our view, results represent another step forward in alleviating market concerns regarding supply chain related challenges. NFI reported strong results (adj. EBITDA margin expansion, adj. EBITDA growth, b:b, improving ROIC). Outlook commentary is encouraging.”
Stifel analyst Daryl Young also described the results as “positive” in a note.
“Overall, a solid print with good margin performance from both the aftermarket and manufacturing divisions,” he wrote. “Moreover, management’s outlook commentary is constructive, including continued improvement in supply chain performance, no changes under Section 232, solid April performance and robust new order/bid activity.”
**
Chorus Aviation Inc. (CHR-T) shares fell on Friday after the company reported mixed first-quarter results.
After markets closed on Thursday, the company reported revenue of $325.4-million, down from $348.1-million a year earlier. The result was below expectations of $326.9-million, according to S&P Capital IQ.
Adjusted net income of $12.6-million or 54 cents per share compared to $15.4-million or 57 cents last year. The expectation was for adjusted EPS of 47 cents.
Adjusted EBITDA of $44.3-million was below expectations of $45.3-million and compared to $56.9-million last year.
In its fiscal 2026 outlook, the company forecast adjusted EBITDA of $170-million to $185-million, which is in line with expectations of $176.4-million.
TD analyst Tim James described the results as “slightly negative for share price” in a note.
“Although we are encouraged by the unchanged 2026 guidance, we are surprised by the extent of weakness in non-CPA [capacity purchase agreement] revenue streams, as these are revenue sources that are anticipated to be the primary growth and valuation drivers going forward,” he wrote.
National Bank Financial analyst Cameron Doerksen described the results as “neutral” in a note.
“We maintain our ‘outperform’ [buy] rating and $28 target on Chorus Aviation shares while we review our model,” he wrote. “With cash flow visibility from its CPA with Air Canada and organic growth opportunities in its Voyageur Aviation subsidiary, we expect Chorus to continue prioritizing capital returns to shareholders with further upside from potential acquisitions in the aviation services segment.”
Stifel analyst Daryl Young viewed the results as “slightly negative” according to a note.
“Although headline numbers are largely in line, we expect investors to be focused on the continued weak Voyageur/Parts/MRO results given these services represent key growth engines for CHR (albeit still small and less material),” he wrote, adding the outlook is unchanged.
**
Reitmans (Canada) Ltd. (RET-X) shares rose on Friday after the company announced that it would not seek an “uplisting” on the Toronto Stock Exchange at this time.
“As part of the TSX’s uplisting requirements, the company would be required to modify its capital structure and obtain both common and Class A shareholder approval, including specifically the approval from the Reitman family group as the controlling shareholder,” the company stated in a release.
It said that after a review of the benefits of an uplist, members of the origin and the special committee hired to review the matter met twice with the family to discuss at length a proposal to uplist on the TSX.
“The Reitman family group advised that while they fully support the company’s strategic direction, they would not pursue an uplisting at this time,” according to a release, which also noted that the Reitman family group was willing to reconsider the matter “at a future date as the company’s performance improves.”
The release also said the special committee unanimously determined, with the support of the board chair and CEO of the company, that an uplisting on the TSX and modification to RCL’s capital structure “were in the best interests of the company, but also determined not to proceed with a vote on the matter at the next annual meeting of shareholders of the company as any such vote would not be supported by the Reitman family group.”
The release also stated that “the board remains focused on acting in the best interests of the company and all stakeholders. The Board will continue to pursue this matter as corporate conditions evolve.”
**
Premium Brands Holdings Corp. (PBH-T) shares were higher in Thursday trading after the company reported first-quarter results that largely beat expectations.
Before markets opened on Thursday, the company reported record first-quarter revenue of $2.051-billion, up 25 per cent from $1.645-billion a year earlier. The result was roughly in line with expectations of about $2.07-billion, according to S&P Capital IQ.
Adjusted EBITDA from continuing operations of $171.2-million was up from $135.1-million a year ago and ahead of expectations of $159.7-million
Adjusted earnings of $42.6-million or 83 cents per share compared with $31.3-million or 70 cents a year ago. The expectation was for adjusted EPS of 71 cents.
The company maintained 2026 sales and adjusted EBITDA guidance ranges and affirmed that it expects to exceed its five-year plan of 2027 sales and adjusted EBITDA targets of $10-billion and $1-billion, respectively.
National Bank analyst Vishal Shreedhar described the results as “constructive” in a note.
“Revenue was slightly short relative to NBCM/consensus, and EBITDA was ahead (albeit with lowered expectations into the print). 2027 outlook was nudged upward,” he wrote.
He maintained his “sector perform” (hold) rating and $108 price target.
“Over the medium term, we believe PBH’s outlook will be supported by organic growth and EBITDA margin expansion,” he wrote.
**
Maple Leaf Foods Inc. (MFI-T) shares jumped in Thursday trading after the company reported first-quarter results that beat expectations.
Before markets opened on Thursday, the company reported sales of $963-million, up from $907-million for the same period last year. The result was ahead of expectations of $956.2-million, according to S&P Capital IQ.
Adjusted EBITDA came in at $122-million up from $115.8-million last year and ahead of expectations of $116.2-million.
Earnings from continuing operations were $46-million or 37 cents per share compared to $16-million or 13 cents last year. Adjusted EPS was 34 cents, up from 21 cents a year ago and ahead of expectations of 30 cents.
“Our first quarter results reflect the disciplined execution of our strategic blueprint across the business,” said CEO Curtis Frank. “We delivered 6% year-over-year revenue growth, the sequential margin recovery we expected, and higher Adjusted EBITDA, driven by operating efficiency, favourable mix, and disciplined cost management, while generating strong Free Cash Flow.”
TD analyst Michael Van Aelst described the results as “positive” in a note.
“MFI shares have slid over the past month on both the ‘risk-on’ move in markets and concerns around rising fuel costs not getting passed on,” he wrote. “Q1 provides support that margins should recover into a normal range of 13-14% and we would not read too much into the lack of a guidance raise – it’s still early – and we would also argue that reiterating guidance should alleviate investor concerns around the impacts of higher fuel costs."
He has a “buy” recommendation and a $42 price target on the stock.
National Bank analyst Vishal Shreedhar maintained his ”outperform" (buy) on the stock and hiked his target to $37 from $35
“We believe that MFI can improve profitability and deliver amongst the highest EBITDA margin within branded protein peers, in conjunction with mid-single-digit top-line growth,” he wrote. “We acknowledge heightened risk, largely due to execution and commodity volatility. In our view, valuation may continue to re-rate higher if MFI demonstrates consistent execution.”
**
Sherritt International Corp. (S-T) shares plunged on Thursday after the miner said it’s suspending its operations in Cuba and three directors have stepped down after the U.S. expanded sanctions on the country.
The Donald Trump administration has been ratcheting up pressure on Cuba for months in an effort to force regime change, including restricting oil imports into the country. On May 1, the U.S. brought further sanctions against Cuba targeting metals and mining, and other sectors such as financial services and defence.
Read the full Globe story here
**
Kinaxis Inc. (KXS-T) shares rose on Thursday after the company reported first-quarter results that beat expectations.
After markets closed on Wednesday, the software company reported revenue of US$165.6-million, up from US$132.8-million a year earlier. The result was ahead of expectations of US$156.3-million, according to S&P Capital IQ.
Profit of US$29.4-million or US$1.04 per share compared to US$15.9-million or 55 cents US a year ago.
Adjusted EBITDA came in at US$53.6-million up from US$33.1-million last year. The expectation was for US$43.5-million.
TD analyst John Shao described the results as “positive” in a note.
“Q1 was a strong beat across the board, likely driven by a pull-forward in STL [subscription term licence] revenue,” he wrote.
“Even outside this timing, we believe Q1 would have still been a decent beat, particularly considering the SaaS [software as a service] strength. Alongside the beat and evident growth momentum, the unchanged F26 guide appears conservative. Also, commentary on early AI monetization adds on another positive development in the quarter.”
Stifel analyst Suthan Sukumar described the results as “positive” and said the company remains a top pick.
“Kinaxis delivered on another record quarter, significantly outpacing our/Street expectations in what is generally the softest period for enterprise software sales,” he wrote. “Importantly, broad-based bookings strength fueled another period of 20% y/y ARR growth (accelerated on cc basis), underscoring heightened demand for supply chain resilience amidst the ongoing tariff/geopolitical volatility.”
Added the analyst: “While this quarter’s beat didn’t flow through to the FY guide (unchanged), we suspect the conservatism is more a function of the current CFO transition.”
**
Knight Therapeutics Inc. (GUD-T) shares were higher in Thursday trading after the company reported first-quarter results that beat expectations.
Before markets opened on Thursday, the company reported revenue of $148.4-million, up from $88.1-million a year ago and ahead of expectations of $114.1-million. “The increase was primarily driven by the incremental revenues from the Paladin and Sumitomo portfolios, the growth of our promoted products, and the purchasing patterns of certain products,” the company stated.
Net income was $13.1-million or 13 cents per share compared to $2.2-million or 2 cents in the same period last year. The expectation was for EPS of 2 cents, according to S&P Capital IQ.
**
Savaria Corp. (SIS-T) reported first-quarter results that were largely in line with analyst expectations.
After markets closed on Wednesday, the company reported revenue of $235.5-million, up from $220.2-million a year earlier. The result was above expectations of $234.9-million, according to S&P Capital IQ.
Net earnings came in at $22.7-million or 31 cents per share, which was in line with expectations and compared to $12.5-million or 17 cents per share in 2025.
Adjusted EBITDA was $48.1-million, roughly in line with expectations and up from $40.6-million last year.
National Bank analyst Zachary Evershed said there were “no surprises” after the results.
“Q1 results were tightly in line with preliminary results released April 14, which indicated ~$235 million in revenue and ~$48 million in Adj. EBITDA,” he wrote.
**
Canfor Corp. (CFP-T) shares rose on Wednesday after the company reported better-than-expected results for the first quarter.
Before markets opened on Wednesday, the comapny reported sales of $1.359-billion, down from $1.417-billion a year earlier. The result was ahead of expectations of $1.310-billion, according to S&P Capital IQ.
Its net loss of $72.1-million or 62 cents per share compared to a loss of $390.5-million or $3.35 a year earlier. The expectation was for a loss of 68 cents.
The company said global lumber markets “remained challenging” throughout the first quarter, " argely reflecting relatively subdued demand and ongoing trade and geopolitical pressures; however, periods of supply tightness contributed to some improvement in North American benchmark lumber pricing."
TD analyst Sean Steuart, who has a “buy” and $16 target, described the results as “neutral to our long-term estimates” in a note.
“There were no major surprises in CFP’s Q1 results, which benefited from higher North American lumber prices and sawmill productivity and were consistent with peers’ trends,” he wrote. “These factors offset sustained losses at the European sawmills. CFP retains a strong capital structure, which provides options as earnings recover from an extended trough.”
**
Sprott Inc. (SII-T) shares rose 20 per cent on Wednesday after the company reported earnings that beat expectations.
Adjusted EPS of $1.12 was ahead of the consensus of 93 cents, according to a note from TD analyst Graham Ryding and above his estimate of 99 cents.
“This was down slightly [quarter over quarter] but up 134% [year over year]. $52mm in performance fees and healthy base management fees drove the revenue beat,” he wrote.
He said adjusted EBITDA of $57.9-million came in well above his $46.9-million estimate.
Mr. Ryding increased his target to $205 from $190 and maintained his “hold” after the report.
“Q1/26 was a strong earnings beat (carried interest contributed), with solid AUM growth (+9% q/q), margin expansion, and healthy flows. New product launches are well received,” he wrote. “We have increased our estimates to reflect higher performance fees / carried interest and margin expansion.”
Canaccord Genuity analyst Matthew Lee increased his target to $230 from $200 and maintained his “buy” after the report.
“The quarter was driven by three key developments: a $52M carried interest crystallization from a legacy lending fund, record ETF flows of $1.1B driven almost entirely by critical minerals, and a precious metals market that briefly touched new highs before the Middle East tensions triggered a sharp, liquidity-driven pullback,” he wrote. “In our view, the structural foundation of the precious metals bull market remains intact despite lower futures prices, suggesting that the impact of geopolitical tensions is largely transitory.”
Added Mr Lee: “Post quarter, our estimates are moderated slightly as faster AUM expansion is offset by lower resource prices. Nevertheless, we continue to view SII as an attractive investment with its differentiated fund model providing meaningful upside leverage from increasing gold and uranium prices, while also allowing the firm to have exposure to a diverse range of materials.”
**
Hammond Power Solutions Inc. (HPS-A-T) shares rose on Wednesday after the company reported first-quarter results that beat expectations.
After markets closed on Tuesday, the company reported sales of $264.8-million up from $201.4-million a year earlier. The result was ahead of expectations of $236.3-million, according to S&P Capital IQ.
Net earnings of $19.6-million or $1.64 per share compared to $26.2-million a year earlier. On an adjusted basis, EPS came in at $2.08 up from $1.60 a year earlier and ahead of expectations of $1.78.
Adjusted EBITDA of $41-mllion rose from $30.9-million last year and was ahead of expectations of $34-million.
National Bank Financial analyst Baltej Sidhu increased his target to $325 from $235 and maintained his “outperform” (buy) rating.
“We are moving our multiple higher after re-evaluating HPS’ comparables average valuations, which have continued to re-rate and trade at a significant premium,” the analyst wrote.
“We are moving our multiple higher after re-evaluating HPS’ comparables average valuations, which have continued to re-rate and trade at a significant premium. HPS trades at ~17x vs. transformer/power peers at ~24x despite delivering superior returns (26% ROIC vs. 20%), comparable margins, and stronger near-term growth.”
The analyst also wrote that he sees “a disconnect between market expectations and the strength of HPS’s operating cash generation, supporting a compelling FCF-driven deleveraging story... ”
**
Kits Eyecare Ltd. (KITS-T) shares fell 13 per cent on Wednesday and were down again in early Thursday trading after the company reported guidance that disappointed investors.
Before markets opened on Wednesday, the Vancouver-based company reported record quarterly revenue of $57.5-million, up from $46.6-million a year earlier. The result was in line with expectations of $57.4-million, according to S&P Capital IQ data.
Adjusted EBITDA of $4.1-million was up from $3.5-million last year and ahead of expectations of $3.5-million.
Net income of $2-million or 6 cents per share was in line with expectations and up from $1.6-million or 5 cents per share last year.
In its second-quarter outlook, the company said it expects revenue to be in the range of $57-million to $59-million. The forecast was on the lower end of expectations of $58.7-million, according to S&P Capital IQ estimates.
Adjusted EBITDA as a percentage of revenue is expected to be between 3 per cent and 5 per cent, the company stated.
“Management introduced a Q2/26 financial guidance below expectations with revenues of $57-59 million, up 17% Y/Y at the mid-point, lower than our expectations of $61 million,” Stifel analyst Martin Landry wrote in a note. “Q2/26 EBITDA margin guidance of 3-5% is also below our expectations of 6%.”
Added Mr. Landry: “We believe that Q2/26 guidance is embedding a certain level of conservatism as growth prospects don’t appear to have changed given management still expects 2026 revenues to grow 25-30% Y/Y in constant currency.”
He reduced his forecasts to reflect the guidance, lowering his target price by $3 to $21 and maintained his “buy” recommendation.
“Our thesis remains unchanged and predicated on KITS growing revenues and profitability at one of the fastest paces amongst the Canadian small-cap consumer sector,” he wrote.
Canaccord Genuity analyst Luke Hannan maintained his “buy” but lowered his target price to $22 from $23.
“While there are no perfect public comparable companies to KITS, we believe the broader eyewear retail peer set is an appropriate barometer, with the group trading at an average of 3.2x FY+1 sales,” he wrote in a note. “In our view, KITS should trade at a premium to the group given its earlier stage in the growth cycle, higher expected revenue growth, healthy balance sheet, and strong management team.”
**
Upcoming small-cap earnings:
May 8: Docebo Inc. (DCBO-T), CES Energy Solutions Corp. (CEU-T), Doman Building Materials Group Ltd. (DBM-T), Lassonde Industries Inc. (LAS-A-T)
May 11: Cineplex Inc. (CGX-T), CT REIT (CRT-UN-T), Minto Apartment REIT (MI-UN-T), Cineplex Inc. (CGX-T), Chemtrade Logistics Income Fund (CHE-UN-T), Cronos Group Inc. (CRON-T)
May 12: RFA Financial Inc. (RFA-T), Parex Resources Inc. (PXT-T), True North Commercial REIT (TNT-UN-T), BTB REIT (BTB-UN-T), Altius Minerals Corp. (ALS-T), Grown Rogue International Inc. (GRIN-CN), Goeasy Ltd. (GSY-T), Pet Valu Holdings Ltd. (PET-T), Terago Inc. (TGO-T), Algoma Steel Group Inc. (ASTL-T), AGT Food and Ingredients Inc. (AGTF-T), Organigram Global Inc. (OGI-T)
May 13: Superior Plus Corp. (SPB-T), Bird Construction Inc. (BDT-T), Total Energy Services Inc. (TOT-T), BSR REIT (HOM-U-T), Pollard Banknote Ltd. (PBL-T), Automotive Properties REIT (APR-UN-T), Slate Grocery REIT (SGR-UN-T), Mattr Corp. (MATR-T), Dream Unlimited Corp. (DRM-T), AutoCanada Inc. (ACQ-T), Kneat.com Inc. (KSI-T), Aimia Inc. (AIM-T), North American Construction Group Ltd. (NOA-T), Boyd Group Services Inc. (BYD-T), Pro REIT (PRV-UN-T)
May 14: Corby Spirit and Wine Ltd. (CSW-A-T), H&R REIT (HR-UN-T), Interfor Corp. (IFP-T), Plaza Retail REIT (PLZ-UN-T), Velan Inc. (VLN-T), Vecima Networks Inc. (VCM-T), Canada Goose Holdings Inc. (GOOS-T), Quarterhill Inc. (QTRH-T), American Hotel Income Properties REIT LP (HOT-UN-T) , Westport Fuel Systems Inc. (WPRT-T)
May 15: HLS Therapeutics Inc. (HLS-T)
May 21: Lightspeed Commerce Inc. (LSPD-T)
May 27: EQB Inc. (EQB-T), Coveo Solutions Inc. (CVO-T)
May 29: Laurentian Bank (LB-T)
June 9: Stingray Group Inc. (RAY-A-B)