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Retail Advisors Network Co-Founder and Partner Bruce Winder tells BNN why fashion retailer Aritzia's plans to go public make sense and what the potential risks are in the current market and retail environment.

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Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

EXFO Inc. (EXFO-Q; EXF-T) reported first-quarter sales of $61.8-million (U.S.) compared to $55.2-million for the same period a year earlier.

Net earnings were $3.3-million or, 6 cents per share, compared to $1.8-million or 3 cents per share in the same period a year earlier.

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Adjusted EBITDA (earnings before interest, taxes, depreciation and amoritization) totalled $6.3-million compared to $5.3-million a year earlier.

Analysts were looking for revenue of $60.1-million and earnings of 4 cents per share in the most recent quarter.

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Aritzia Inc. (ATZ-T) says a group of shareholders has entered into an agreement with a syndicate of underwriters to purchase on a bought-deal basis about 20 million subordinate voting shares at an offering price of $17.45 per share for total gross proceeds of $350.7-million.

Aritzia said it won't receive any proceeds from the offering.

In a separate transaction, a group of employees of Aritzia, not including founder and CEO Brian Hill, will be selling a total of 1.8 million subordinate voting shares on a block-trade basis. The sale will be at the offering price for total gross proceeds of $31.2-million.

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Sandvine Corp. (SVC-T) says it has received orders of more than $4-million from an unnamed mobile/fixed communications service provider.

The provider has purchased Sandvine's PTS 32000 series platform and software licenses "to support a number of strategic use cases," the company said in a release.

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Currency Exchange International Corp. (CXI-T) said fourth-quarter revenues increased 12 per cent or $810,000 to $7.7-million compared to $6.9-million a year earlier.

Analysts were looking for revenue of nearly $8.1-million.

Net income increased $989,000 to $1.4-million for the three-month period ended Oct. 31, from $391,000 a year earlier.

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Delphi Energy Corp. (DEE-T) announced a new $80-million senior secured credit facility with Alberta Treasury Branches, as syndicate lead, which also includes the Bank of Nova Scotia.

The company said its 2017 drilling program will more than double as compared to 2016, with the addition of a second drilling rig.

"The company's production growth profile through 2017 is largely weighted to the second half of the year, with fourth quarter of 2017 production expected to average approximately 11,000 to 11,500 barrels of oil equivalent per day (boe/d), representing approximately 60-per-cent growth (absolute and per share) over production in the fourth quarter of 2016," the company stated.

It also said fourth-quarter 2017 run-rate funds from operations (FFO) are forecast to increase about 145 per cent to $72-million to $80-million from fourth quarter 2016 levels.

Delphi's 2017 capital program is forecast to be $65-million to $70-million, which targets an increase in annual production of approximately 25 per cent to 9,000 to 9,500 boe/d.

FFO for 2017 is forecast to increase approximately 82 per cent based on an average West Texas Intermediate oil price of $55 per barrel.

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Asanko Gold Inc. (AKG-T, AKG-N) appointed Fausto Di Trapani as chief financial officer, effective immediately.

He replaces Greg McCunn, who resigned "to pursue other business opportunities."

The company said Mr. McCunn will be available in an advisory capacity to support a seamless transition.

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Mettrum Health Corp. (MT-X) says it has acquired Bodystream, a network of medical cannabis clinics with 14 locations across Ontario for $1-million in cash and shares.

"We have been working closely with Bodystream for the past two years and they have demonstrated an ability to scale rapidly while maintaining a high level of professional service," stated Mettrum CEO Michael Haines.

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About the Author
Contributor

Brenda Bouw is a freelance writer and editor based in Vancouver. She has more than 20 years of experience as a business reporter, including at The Globe and Mail, The Canadian Press, the Financial Post and was executive producer at BNN (formerly ROBTv). Brenda was also part of the Globe and Mail reporting team that won the 2010 National Newspaper Award for business journalism. More

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