Our roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news and on the move today.
Absolute Software Corp. (ABST-Q; ABST-T) reported revenue of US$52.5-million for its fourth quarter ended June 30, an increase of 65 per cent compared to the same period last year. The expectation was for revenue to come in US$53.1-million a year ago, according to S&P Capital IQ.
Its net loss was US$5.3-million or 10 cents US per share compared to net loss of US$3-million or 6 cents a year ago.
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Algoma Steel Group Inc. (ASTL-Q; ASTL-T) announced it has reached a tentative collective agreement with the United Steelworkers Local Union 2251, the union representing its hourly employees.
It said the USW Local 2251 bargaining committee is unanimously recommending the offer and the parties have agreed to extend the current contract until Aug. 30 to allow for a ratification vote.
The news follows the company’s recent agreement with the USW Local 2724, the union representing its technical, professional, and front-line supervisory employees, which was ratified on July 26.
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Copper Mountain Mining Corp. (CMMC-T) announced that it has “terminated” the employment of Rodney Shier as chief financial officer, effective immediately. Bradley Bolger, currently vice-president of finance, will become interim CFO, the company stated.
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Q4 Inc. (QFOR-T) announced a restructuring, including an 8-per-cent reduction of its workforce, which the company says is “designed to adapt to market conditions and pave its way to profitability.”
The company said some of the measures are focused on the reorganization of the different sales and marketing functions, as well as a “reorientation” of the research and development teams towards the company’s most successful products.
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Exro Technologies Inc. (EXRO-T) announced a combined public and private financing valued at up to $10-million.
It includes approximately 9.5 million units at a price of $1.05 each. Each unit includes one common share and one share purchase warrant exercisable at a price of $1.36 for a period of 48 months, with certain conditions.
The company said it expects the net proceeds will be used to support its growth plans “through the development of key partnerships, R&D investments, manufacturing facilities, working capital and for general corporate purposes.”
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