Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
TMX Group Ltd. (X-T) is targeting more cost reductions as part of ongoing efforts to "streamline the organization."
The company said it cut jobs in the third quarter "to realize meaningful synergies," and is looking to find more cost reductions "related largely to compensation and benefits of $8-to-$10-million per year."
It also plans to save $3-to-$5-million per year in additional savings by the end of 2017.
"The efforts we have undertaken are in pursuit of long-term growth, and not merely focused on short-term reductions," CEO Lou Eccleston said in a release. "The new TMX is now beginning to emerge: a nimble and responsive solutions provider and a tenacious, relentless competitor striving to win the trust and respect of clients."
WestJet Airlines Ltd. (WJA-T) says it has a multi-year agreement as primary provider for Suncor Energy (SU-T;SU-N) to fly employees and contractors to and from its oil sands operations in northern Alberta beginning in early November.
The agreement will involve more than 100 weekly flights, the company said in a release.
PolyMet Mining Corp. (POM-T;PLM-N) is raising $10-million in a private placement that includes 13.3 million units for 75 cents each.
It said Paradigm Capital Inc. has agreed to purchase 10 million units on a bought deal basis. PolyMet has received additional direct interest for 3.3 million units.
The proceeds will be used primarily to advance its NorthMet Project, the company said in a release.
D-Box Technologies Inc. (DBO-T) says it will install a full-size auditorium in China with its high-fidelity motion systems. The company said it's the first venue in China to offer an entire audience the full D-Box experience.
"From a business perspective, this contract underlines just how scalable our technology is and demonstrates how we can accommodate all types of auditorium and space considerations. This is another step to provide top-tier premium entertainment in a very fast-growing market," said D-Box Claude McMaster in a release.
Calian Group Ltd. (CGY-T) says it was awarded a contract renewal valued at $15-million by the Department of National Defence (DND) for courseware production support to the Army Learning Support Centre (ALSC) in Gagetown, N.B.
The contract runs until March 2019.
"The first pillar of Calian's growth strategy is customer retention. The addition of this training contract brings our total DND major contract re-wins in the last fiscal year to five," said CEO Kevin Ford in a release.
Plaza Retail REIT (PLZ.UN-T) says it will invest $21-million in 14 projects in Atlantic Canada, Quebec and Ontario.
"We continue to grow and enhance our portfolio through high quality developments and re-developments that are leased to some of Canada's most prominent retailers," said CEO Michael Zakuta in a release. "Upon completion, these projects will further diversify our asset base and increase our cash flows, building value for our unitholders."