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Iamgold’s Yatela mine in Mali

Iamgold

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

Canadian Energy Services & Technology Corp. (CEU-T) reported revenue of $187.7-million during the fourth quarter of 2016 compared to $165-million a year earlier.

Its net loss was $4-million or 2 cents per share compared to a loss of $114.4-million or 52 cents a year earlier.

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Funds flow from operations was $17-million or 6 cents versus $7.8-million or 4 cents a year earlier.

Analysts were expecting revenue of $173.6-million.

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Pure Technologies Ltd. (PUR-T) reported fourth-quarter revenue of $32.3-million, up from $30.8-million a year earlier.

Profit for the fourth quarter was $1.9-million or 3 cents a share compared to a profit of $677,000 or a penny per share a year earlier.

Analysts were expecting revenue of $33.2-million and earnings of 4 cents.

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Iamgold Corp. (IMG-T; IAG-N) has priced a private offering of $400-million aggregate principal amount of senior notes due 2025. The company said it will use the proceeds to redeem $489-million of outstanding notes due in 2020.

"Our four-year plan is to increase gold production to one million ounces and to significantly reduce costs," said CFO Carol Banducci in a release.  "While we continue to be very comfortable with our strong financial position today, reducing our long-term debt and extending the maturity date of our notes to 2025 improves our capital structure and supports our ability to fund our growth pipeline over the four-year horizon and beyond."

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Northview Apartment Real Estate Investment Trust (NVU.UN-T) reported net operating income of $44-million in the fourth quarter compared to $39.4-million a year earlier.

Funds from operations came in at $27-million or 48 cents per unit compared to $24.6-million or 53 cents a year earlier.

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Melcor REIT (MR.UN-T) said fourth-quarter rental revenue of $16.2-million compared to $17-million a year earlier.

Adjusted funds from operations was $5.3-million or 21 cents per share compared to $5.4-million or 21 cents a year earlier.

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Total Energy Services Inc. (TOT-T) says it has purchased 150,000 shares of Savanna Energy Services Corp. for an average price of $1.98.

The purchase is "expected to provide Total with standing as a Savanna shareholder in any proceedings that Total may wish to commence under the Business Corporations Act (Alberta)," the company said.

On Dec. 9, Total commenced its hostile bid for Savanna, which Savanna's board has rejected.

In a separate release, it responded to Savanna's proposed agreement to be bought by Western Energy Services Corp. calling it a  "far less compelling transaction for Savanna shareholders than a combination with Total Energy on the terms set out in the Total offer."

The Total Energy board has also said it will waive the two-thirds minimum tender condition in the Total offer.

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Enghouse Systems Ltd (ENGH-T) said its first-quarter revenue increased to $78.8-million, compared to revenue of $74.4-million in the first quarter of the prior year.

Income from operating activities was $22.4-million compared to $17.8-million in prior year's first quarter.

Net income for the quarter was $11.7-million or 43 cents per  share compared to $8.5-million or 31 cents a year earlier.

Analysts were expecting revenue of $78.1-million and earnings of 37 cents.

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Resolute Forest Products Inc. (RFP-N: RFP-T) announced the indefinite idling of its paper mill located in Thorold, Ont., effective immediately.

The facility employed more 100 workers.

"The difficult decision to proceed with the indefinite idling is driven by the ongoing significant decline in North American newsprint consumption, coupled with the increasing cost of recovered paper," the company said.

The company had already been taking downtime at the operation since mid-December.

The company said it's collaborating with Stone House Investments Holdings Inc., an independent third party interested in converting Thorold to production of an alternative product.

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Northern Blizzard Resources Inc. (NBZ-T) reported fourth-quarter sales of $94-million up from $79.8-million.

Funds from operations was $40.2-million or 32 cents compared to $8.2-million or 7 cents per share.

Its net loss was $120.5-million or 99 cents per share versus a loss of $14.1-million or 13 cents per share.

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AlarmForce Industries Inc. (AF-T) reported first-quarter net income of $1-million or 9 cents per share down from $2-million or 18 cents a year earlier.

Total subscribers declined to 134,743 "reflecting the change in cancellation practices related to last year's restatement, lower advertising expenditures and a focus on higher quality subscribers in the Canadian market," the company said. 

Total revenues were $13.9-million versus $14.2 million over the same period in 2016. Average revenue per new subscriber at the end of the first quarter was $38.32, up 5 per cent year-over-year.

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AcuityAds Holdings Inc. (AT-X) is buying Visible Measures Corp., a Boston-based programmatic platform provider for analytics-led video advertising, in a deal valued at $10-million (U.S.).

"It is expected that the acquisition of Visible Measures will help AcuityAds gain a more meaningful footprint in the high-growth video advertising marketplace," the company said. "Additionally, this transaction will provide AcuityAds with a strong foundation to capture a greater share of the high-potential, programmatic TV market."

To finance the deal, it also announced a $75-million (Canadian) bought deal financing. It has an agreement with a syndicate of underwriters co-led by Paradigm Capital Inc. and Haywood Securities Inc. to buy 2.2 million shares at $3.40 each.

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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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