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A Pengrowth Energy Corp. pipeline in Alberta.

Ewan Nicholson

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

Home Capital Group Inc. (HCG-T) provided an update after markets closed on Tuesday of its liquidity position as of Monday, May 15.

"The company continues to maintain sufficient aggregate liquidity and credit capacity," it stated.

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Total available liquidity and credit capacity was $1.48-billion, it said, including the undrawn amount of $600-million under its $2- billion credit facility.

Home Trust High-Interest Savings Account (HISA) deposit balances stood at approximately $121-million.

GIC deposits stood at about $12.38-billion and Oaken savings accounts stood at approximately $146-million.


Ballard Power Systems (BLDP-Q; BLDP-T) says its FCveloCity®-HD 85-kilowatt fuel cell engine will power a hybrid class 8 drayage truck built by Kenworth Truck Company.

The company said the truck is planned to haul shipping containers from the ports of Los Angeles and Long Beach to area warehouses and intermodal facilities during a two-year demonstration program.


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DHX Media (DHXM-Q; DHX.A-T: DHX.B-T) says Nickelodeon has licensed 20 half-hour episodes of Massive Monster Mayhem, an original kids show that is a sci-fi competition series that combines live action and CGI animation. It "features live gameplay by kids in futuristic challenges against gigantic Monster Superstars for the chance to win prizes and save the planet from destruction."

The series is scheduled to premiere later this year, the company said.

Global distribution of the will be handled by DHX Media. The consumer products licensing will be managed by DHX Brands.


Pengrowth Energy Corp. (PGF-T; PGH-N) says it received notice from the New York Stock Exchange on Tuesday that it's "no longer in compliance" with one of its continued listing standards.

That's because it's stock has been below $1 (U.S.) for more than 30 days straight.

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"Non-compliance with the NYSE's price listing standard does not affect Pengrowth's business operations nor does it breach or cause an event of default under any of Pengrowth's agreements with its lenders," the company said. "Pengrowth continues to be in compliance with the terms of all of those agreements. In addition, non-compliance with the NYSE minimum share price listing standard does not affect the continued listing and trading of Pengrowth's common shares on the Toronto Stock Exchange."

Pengrowth has six months to regain compliance.


Storagevault Canada Inc. (SVI-T) says it's buying two stores in the Montreal area for a total of $16.6-million.

It also confirmed a recent $396.6-million purchase by its Sentinel Storage portfolio.


Granite Real Estate Investment Trust (GRT.UN-T) says it has filed a proxy circular for its annual general meeting on June 15, asking unitholders to vote in favour of its new board nominees replacing two members who are retiring.

Granite also issued a letter stating the "successful execution of its strategy has driven significant gains for investors and enhanced its growth prospects."

It went on to say that its letter, "also warns unitholders of the threat that dissident unitholders FrontFour Capital and Sandpiper Group pose to Granite's future."

Those unitholders intend to nominate their own people to the board.

"The dissidents have a track record of value destruction in the real estate sector, a history of related party transactions and a short-term orientation," the REIT said. "Moreover, the arguments they have made against Granite are weak, misleading or false."


Dream Global REIT (DRG.UN-T) says it bought SPE III Runway SPRL, a Belgian entity whose main asset is the Airport Plaza multi-tenant office complex in Brussels, for $143-million.

"The purchase price was funded with proceeds from the trust's March equity offering and its revolving credit facility," the REIT said in a release.

The trust also said it's in exclusive negotiations on another acquisition in Stuttgart, Germany.

"Following this acquisition, the Trust will have fully deployed the proceeds raised in its most recent public offering of units," it said.


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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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