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Artist's rendition of RADARSAT-2, developed by MacDonald Dettwiler.

MacDonald Dettwiler

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 signed a contract with the National Oceanic and Atmospheric Administration (NOAA) to provide near real-time information from its RADARSAT-2 satellite.

It said the information will be used to provide "large and small scale ice and snow products, ice forecasting, and other monitoring services."

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It said the contract includes one base year and three annual renewal options.

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Just Energy Group, Inc. (JE-T; JE-N) reported fourth-quarter sales of $947.3-million down 12 per cent from a year earlier. Analysts were expecting revenue of $1.14-billion.

Its loss was $38.2-million or 30 cents per share versus a profit of $30.9-million or 14 cents a year earlier.

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Energy Fuels Inc. (UUUU-T; EFR-T) says it appointed two additional large shareholders to its board.

The company said the board and management now own about 11.7 per cent of the company's issued and outstanding shares.

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Home Capital Group Inc. (HGC-T) provided an update on its liquidity position after markets closed on Wednesday.

It said that, as of Tuesday, total available liquidity and credit capacity was about $1.48-billion including the undrawn amount of $600- million under its $2-billion credit facility. That level was consistent with the day before.

Home Trust high-interest savings account deposit balances stood at approximately $116.8-million, compared to $120.9-million the day before.

Total GIC deposits stood at approximately $12.36-billion and Oaken savings accounts stood at approximately $146-million, both similar to the day before.

On Thursday, Home Capital announced that James Lisson has been appointed to the board and that John Marsh is stepping down.

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Mr. Lisson spent 25 years at Osler, Hoskin & Harcourt in Toronto, where he was a partner and vice chair of the financial services group.

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ATS Automation Tooling Systems Inc. (ATS-T) reported fourth-quarter revenues of $265.7-million, up 8 per cent versus a year ago.

Earnings from operations were $16.8-million compared to $8.1-million.

Earnings per share were 8 cents compared to 2 cents a year ago. Adjusted EPS was 15 cents compared to 14 cents a year earlier.

Analysts were expecting earnings of 14 cents and revenue of $247.3-million.

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Holloway Lodging Corp. (HLC-T) says it has refinanced all of its 2017 mortgage maturities in a series of transactions that "significantly reduces" its cost of debt, aggregate interest expense and aggregate debt service.

The company has entered into a credit facility with a syndicate of lenders led by CWB Franchise Finance, a national branch of CWB Financial Group focused on hotel and restaurant lending.

The credit facility includes a $50-million term loan and a $30-million revolver.

It has also entered into a commitment letter for a mortgage secured by two hotels located in Alberta with a provincial credit union. It also repaid $90.3-million of debt set to mature in 2017.

Before these transactions, Holloway had a weighted average cost of debt of 6.29 per cent, aggregate annual interest expense of $13.5-million and aggregate annual debt service of $19.7-million.

After it's expected to have a weighted average cost of debt of 5.36 per cent, aggregate annual interest expense of $11.4-million and aggregate annual debt service of $15.7-million.

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 Liquor Stores N.A. Ltd. (LIQ-T) issued a statement on Thursday outlining what it calls "serious flaws" in the analysis and strategy of activist shareholder PointNorth Capital.

PointNorth, which owns 9.7 per cent of the company, launched a "costly and distracting proxy battle for control of the board just weeks after rejecting an offer from Liquor Stores for two board seats," the company said.

"Over the past six months, we repeatedly asked PointNorth to share its advice and constructive criticisms so we could either use its insights to improve our operations or help it to better understand our business. PointNorth consistently declined to share its thinking," stated chairman Jim Dinning.

"Now we know why: PointNorth's analysis is riddled with flaws. The biggest flaw is its assumption that what might have worked in government-controlled provincial monopolies, that by definition have no competitors, would work in our six highly competitive markets."

The company is asking shareholders to vote for its board nominees.

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Champion Iron Ltd. (CIA-T) says its Quebec Iron Ore Inc. subsidiary has signed an off-take agreement with Sojitz Corp., a Tokyo-based trading company, to purchase product from the re-commencement of commercial operations at the Bloom Lake Iron Mine near Fermont, Que.

Champion also said it arranged a $40-million debt and equity bridge financing to restart operations at Bloom Lake.

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Norsat International Inc. (NII-T; NSAT-N) says a special committee of independent directors has determined that a takeover proposal for $11 (U.S.) per share from Privet Fund Management LLC is superior to an agreement it struck with Hytera Communications Co.

It said Hytera has five business days to match the offer. The right-to-match period expires on May 25.

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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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