Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Small caps will be taking a holiday break after today’s report, returning on Jan. 4. Happy holidays!
**
Bird Construction Inc. (BDT-T) announced that it has been awarded a contract for construction of Lake City Studios by Lake City Industries Limited Partnership in Burnaby, B.C. The project has a contract value in excess of $200 million.
“Once complete, Lake City Studios will create a significant economic development opportunity in the community and result in a world-class film studio with the potential to attract major productions and support the overall growth of the film industry locally,” the company stated.
**
Endo International plc (ENDP-Q) announced today that its subsidiary Endo Ventures Limited has struck agreements with SK Biopharmaceuticals for the development, registration, supply, commercialization and distribution of cenobamate on an exclusive basis in Canada. Paladin Labs Inc., an operating company of Endo, will be responsible for all commercial activities in Canada related to cenobamate, the company stated.
Cenobamate is a novel small molecule with a dual mechanism of action under investigation for treating seizures; it is not approved in Canada, the company added.
**
Microbix Biosystems Inc. (MBX-T) reported fourth-quarter revenue of $5.6-million, which was more than double revenues of $2.7-million a year ago. Net income of $778,929 compared to a net loss of $5-million.
**
BHP said it has terminated a proposal to takeover Noront Resources Ltd. (NOT-X) for 75 cents per share. Noront has made a $17.78-million termination payment to BHP as a result.
The announcement comes after Noront said its board has approved the improved takeover offer from Wyloo Metals Pty Ltd for $1.10 per share.
Noront and Wyloo also announced they’ve entered into a binding arrangement agreement, following BHP’s decision to waive its right to match.
Noront shareholders will have a chance to vote on the deal in the New Year.
***
Canfor Pulp Products Inc. (CFX-T) announced an extended outage on one production line at its Northwood northern bleached softwood kraft (NBSK) pulp mill in Prince George, B.C. It said the outage is to enable the rebuild of the lower furnace of its No. 1 recovery boiler.
The company currently estimates that the extended downtime will be approximately 85 to 100 days, with a reduction in the production of NBSK pulp of 68,000 to 80,000 tonnes and an estimated capital cost of $30-million, “as well as higher associated maintenance costs.”
Canfor Pulp said it will continue to operate the second production line at the Northwood Pulp mill over this period.
**
DRI Healthcare Trust (DHT.UN-T) declared a special cash distribution of 22 US cents per trust unit payable to unitholders of record at the close of business on Dec. 31, to be paid Jan. 20.
As part of its requirement to distribute all of its taxable income for the year, the board declared a special unit distribution of 3.6 US cents per unit for the same time periods.
The Trust also said it has acquired 1,043,070 trust units for about US$5.5-million as part of its normal course issuer bid announced on Sept. 30.
**
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.