Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news
Hexo Corp. (HEXO-T) reported net revenue of $35.8-million for its first quarter ended Oct. 31, down from $50.2-million a year ago. The expectation was for revenue of $42.2-million in the latest quarter.
Its net loss was $52.1-million versus a loss of $116.9-million for the same time last year.
**
Eldorado Gold Corp. (ELD-T) announced that its wholly-owned subsidiary, Hellas Gold Single Member S.A., has entered into a €680 million project financing facility for the development of the Skouries Project in Northern Greece with National Bank of Greece S.A. and Piraeus Bank S.A. as lead arrangers. The term facility will provide 80 per cent of the expected future funding required to complete the project, which is approximately half-built, the company stated.
The company also said its board has approved, conditional upon the initial drawdown of the term facility, the investment decision and full re-start of construction at Skouries.
“Skouries represents the next phase of growth at Eldorado,” said board chair Steve Reid.
**
Transat A.T. Inc. (TRZ-T) reported revenue of $573.1-million in its fourth quarter ended Oct. 31, up from $62.8-million in the year-ago quarter. The expectation was for revenue to come in at $578.1-mllion, according to S&P Capital IQ.
Its net loss attributable to shareholders amounted to $126.2-million, or $3.32 per share compared with $123.1-million, or $3.21 per share a year ago.
Its adjusted net loss of $75.9-million or $2 per share for the fourth quarter compared with $118.4-million or $3.14 per share in the year-ago period. The expectation was for an adjusted loss of $2.22 per share in the latest quarter.
**
Copper Mountain Mining Corp. (CMMC-T) announced that the Foreign Investment Review Board in Australia granted approval for the previously announced sale of its Eva Copper Project and its 2,100km exploration land package in Queensland, Australia to Harmony Gold Mining Company Limited.
“The FIRB Approval was the final key condition to the closing of the transaction,” the company stated.
**
Altus Group Limited (AIF-T) announced the appointment of Pawan Chhabra as chief financial officer, effective Jan. 1. He joins Altus from ADP, a provider of cloud-based human capital management solutions.
He will replace retiring CFO Angelo Bartolini.
**
Waterloo Brewing Ltd. (WBR-T) announced an agreement to be acquired by Carlsberg Group in a cash deal valued at $144-million.
The offer is for $4 per share, a 19.4-per-cent premium to the closing price of the Waterloo Brewing Shares on Wednesday and 26-per-cent premium over the 10-day volume-weighted average price.
“We’ve enjoyed a close relationship with Carlsberg and are excited about becoming part of one of the largest brewing companies in the world,” said George Croft, Waterloo Brewing’s president and CEO.
Separately, Waterloo Brewing announced net revenue of $26.2-million for the third quarter ended Oct. 30, down from $26.9-million in the prior year. The expectation was for revenue of $29.1-million, according to S&P Capital IQ.
Net income of $194,186 or a penny per share compared to net income of $738,146 or 2 cents a year ago.
**
Chorus Aviation Inc. (CHR-T) announced that it will redeem the remaining $115-million of its senior debentures due Dec. 31, 2024, which it said represents all of the debentures currently outstanding. The redemption is expected to close on or about Dec. 30 of this year.
The redemption will be funded using the net proceeds from a recent sale of two aircraft owned by its subsidiary, Falko Regional Aircraft and available cash resources.
**
Firm Capital Mortgage Investment Corp. (FC-T) announced a special year-end cash dividend on its outstanding common shares “estimated” at 1.4 cents per share, alongside its regular monthly dividend of 7.8 cents per share.
The company said the precise amount of the special dividend will be confirmed prior to the payment date, which will be on or about Jan. 16 to shareholders on Dec. 31.