Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
New Flyer Industries Inc. (NFI-T) says the London Transit Commission has awarded it a contract for 28 of its Xcelsior buses.
The 28 buses will be used to replace an older fleet of New Flyer buses that have "reached the end of their useful lifespan," the company said.
New Flyer said it has built more than 250 transit buses for London Transit over the last 20 years.
MacDonald Dettwiler and Associates (MDA-T) has signed a contract with Airbus Defence and Space to provide a communication antenna subsystem to be integrated into the Inmarsat-6 mobile communication satellites.
It said the contract is valued at more than $7-million.
TransAlta Corp. (TA-T; TAC-N) said the federal government's announcement that it will phase out coal-fired electricity by 2030 and its plans to issue regulations covering gas-fired generation, including coal units that have been converted to gas, "provides clarity and a regulatory framework to allow the conversion of our coal fleet to gas."
"We have been public about the benefits of these conversions," stated CEO Dawn Farrell.
TransAlta said it has about 3,600 megawatts net capacity ownership of coal-fired generation in Alberta, of which about 2,900 megawatts were set to retire before 2030 under the federal 50-year rule.
"Under the newly announced federal regulation, some of these coal plants could be converted to gas-fired and would be allowed to run for a 15-year period or until 2045, whichever comes first," the company said in a release.
Black Diamond Group Ltd (BDI-T) is anticipating fourth quarter adjusted EBITDA [earnings before interest, taxes, depreciation, and amoritization] of between $8-million to $12-million, "in spite of a high degree of variability in the current operating environment."
The company said the improvement over recent quarters "reflects rental revenue growth in BOXX Modular, increased non-rental revenue across all platforms, and a modest seasonality impact. This EBITDA improvement allows the company to continue to take advantage of our favourable liquidity to fund ongoing growth."
Gran Tierra Energy Inc. (GTE-T; GTE-N) is raising $130-million (U.S.) in a bought deal.
It has an agreement to sell 43.3 million shares at $3 each.
The net proceeds will be used to repay borrowing under its revolving credit facility, "which amounts may be reborrowed for general corporate purposes, including to fund appraisal and development and to finance potential acquisitions," the company said.
Savaria Corp. (SIS-T) is forecasting revenue of $139-million for 2017, an increase of 17 per cent over the projected 2016 result of $119-million.
It said EBITDA will be between $25-million and $26-million, representing around 30 per cent growth over 2016 projected EBITDA.
"With the aging of the population and their desire to stay at home, the demand for the products that Savaria designs, builds and distributes will continue to grow," stated CEO Marcel Bourassa in a release.
Celestica Inc. (CLS-N; CLS-T) has purchased Karel Manufacturing, a Mexico-based manufacturing services company, for an undisclosed price.
Celestica will gain additional capabilities in wire harness assembly, systems integration, sheet metal fabrication, welding and machining.
"This acquisition supports our strategy to accelerate our growth in key markets through the addition of value-added capabilities and services," stated Jack Lawless, executive vice president of diversified markets at Celestica.
Lydian International Ltd. (LYD-T) has entered into a $24-million (U.S.) secured credit facility with Ameriabank CJSC.
The company said proceeds will be used for equipment purchases at Lydian's Amulsar Gold Project in Armenia.