Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Interfor Corp. (IFP-T) announced plans to reduce its lumber production output in the fourth quarter by approximately 200 million board feet, or 17 per cent of quarterly capacity. The company said “current economic conditions and market uncertainty have led to reduced lumber demand.”
Interfor also said the temporary reduction in output is expected to be spread across each of its operating regions, “primarily timed around U.S. Thanksgiving and Christmas holiday periods, and used to accelerate ongoing capital and maintenance projects.”
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Corus Entertainment Inc. (CJR-B-T) reported a fourth-quarter loss of $367.1-million as it took a one-time, non-cash charge of $350-million.
The loss per share for the quarter that ended Aug. 31 was $1.82 compared with a profit of $19.9-million or 10 cents per diluted share in the same quarter a year earlier.
Revenue for the quarter totalled $339.6-million, down from $361.3-million in the same quarter last year. The expectation was for revenue to come in at $343.8-million, according to S&P Capital IQ.
- With files from The Canadian Press
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Slate Office REIT (SOT-UN-T) put out a statement in response to an open letter issued on Thursday by G2S2 Capital Inc. saying it “welcomes constructive input focused on enhancing value for the REIT and all unitholders.”
The REIT says its board members and senior management team have held many “meetings, discussions, and property tours with G2S2 and its executive chairman, George Armoyan, over the past several months – dating back to May 2022″ where Mr. Armoyan expressed interest in acquiring certain of the REIT’s assets located in Atlantic Canada.
“We made clear our openness to engaging constructively with Mr. Armoyan under the same fair terms we use with all other prospective purchasers and sellers. These conversations were ongoing as recently as this week,” the statement said.
The REIT said it’s looking for “constructive engagement – not a potentially expensive and distracting proxy contest” as the best forum for addressing unitholder feedback.
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Medical Facilities Corp. (DR-T) announced the appointment of Jason Redman as its interim president and CEO, replacing Rob Horrar who has stepped down. Mr. Redman joined the board of Medical Facilities earlier this year and will remain a board member.
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Thunderbird Entertainment Group Inc. (TBRD-X) reported fourth-quarter revenue of $44.1-million up from $26.1-million a year ago. The expectation was for revenue to come in at $33-million, according to S&P Capital IQ.
Its net loss for the period ended June 30 was $1.8-million or 3.7 cents per share versus a loss of $897,000 or 1.8 cents a year ago.