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The offices MacDonald, Dettwiler and Associates in Richmond, B.C.

RICHARD LAM/The Canadian Press

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

MacDonald, Dettwiler and Associates Ltd. (MDA-T) says it has received authorization from The Boeing Co. to build three Ku-Band communication subsystems on the International Space Station (ISS). They will replace aging subsystems.

The contract includes an option for an additional subsystem, which if exercised brings the full contract to approximately $30-million, the company said.

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Automotive Properties Real Estate Investment Trust (APR.UN-T) is buying two automotive dealerships; one in Calgary and another in Barrie, Ont. for a total of $32.5-million.

"The acquisition of these properties is consistent with the REIT's strategy to accretively acquire modern, well-located dealership properties in major markets, tenanted by industry-leading automotive dealership operators," said CEO Milton Lamb in a release.


Tio Networks Corp. (TNC-X), which is being taken over by PayPal, said second-quarter revenue increased 49.6 per cent to $24.5-million year-over-year. Net Income increased by 27 per cent to $2.1-million. Analysts were expecting revenue of $25.1-million.


Dundee Corporation (DC.A-T) reported a loss of $106.9-million or  $1.85 per share in the fourth quarter compared with a net loss of $54.9 million or 97 cents per share incurred during the same period of the prior year.

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"Losses incurred during the fourth quarter of 2016 included market depreciation from investments of $102.7 million, compared with losses from investments of $37.8 million incurred in the fourth quarter of the prior year," the company said.


Extendicare Inc. (EXE-T) said chairman Ben Hutzel has decided to step down and fellow director Alan Torrie is expected to succeed him at the annual meeting on May 25.


The Westaim Corp. (WED-X) recorded a net loss of $900,000 (U.S.) or a penny per share in the fourth quarter compared to a net loss of $5.7 million or 4 cents a year earlier. Revenue was $700,000 up from $500,000 a year earlier.

Book value per share was $2.21 as of Dec. 31 compared to $2.27 a year earlier.

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Trez Capital Mortgage Investment Corp (TZZ-T) says fourth-quarter revenue decreased to $1.9 million versus $4-million a year earlier.

The company said its net loss totaled $2.8-million or 17 cents per share, versus net income of $2.6-million or 14 cents a year earlier.


Prometic Life Sciences Inc. (PLI-T) reported a net loss of $40.1-million in the fourth quarter compared to a net loss of $12.3-million a year earlier.

"The increase in net loss is mainly attributable to significantly higher expenses related to the establishment of a significant manufacturing and commercialization infrastructure," the company said.

Total revenues for the fourth quarter were $4.1-million compared to $14.1-million for the fourth quarter ended Dec. 31, 2015.

Analysts were expecting revenue of $5.3-million.


Callidus Capital Corp. (CBL-T) reported fourth-quarter revenue of $48.5-million up from $44.2-million a year ago. Analysts were expecting revenue of $48.9-million.

Net income was $22.4-milllion up slightly from $22.1-million a year earlier.


Mullen Group Ltd. (MTL-T) says it bought privately held Envolve Energy Services Corp., a disposal services company based in Grande Prairie, Alta., for an undisclosed price.

It previously owned about 38 per cent of the company.

"The acquisition of Envolve expands our service offering within our Oilfield Services segment," the company said. "We believe that future drilling activity in western Canada will be focused in key resource plays, including the Montney, Duvernay and Deep Basin."


Photon Control Inc. (PHO-T) says its acting CEO and two directors have resigned. 

The company said board members Robert Breault and Joseph Litner each resigned effective March 30.

Michael Goldstein has resigned from the board and as acting CEO, effective April 1.

The company gave no reason for the resignations.


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About the Author

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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