Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Canopy Growth Corp. (WEED-T) reported third-quarter net income of $3-million or 2 cents per share compared to a net loss of $3.3-million or 4 cents a year earlier.
Revenue of $9.8-million was an 180-per-cent increase over the prior year period.
The company had more than 29,000 registered patients at Dec. 31, compared to about 8,000 at the same time a year earlier.
PI Financial analyst Jason Zandberg said revenue of $9.8-million was slightly below his expectations of $10.2-million and that product availability impacted sales. In an email to the Globe and Mail, Mr. Zandberg said he believes today's sell off is "exaggerated by the significant share price increase in recent days." In a note to investors, he said "management indicated that the level of social media interest since it changed its ticker to WEED has spiked considerably."
Ballard Power Systems Inc. (BLDP-Q; BLDP-T) said it will be providing 20 fuel cell engines to a subsidiary of New Flyer Industries Inc. (NFI-T) as part of the Fuel Cell Electric Bus Commercialization Consortium (FCEBCC).
"This program represents an important next step in the broader adoption of fuel cell buses in the U.S. market," Karim Kassam, Ballard's vice president of commercial said in a release.
Electrovaya Inc. (EFL-T) reported first-quarter revenue of $1.1-million (U.S.) compared $8.2-million a year earlier.
The net loss was $2.4 million compared to the net profit of $3.3-million a year earlier.
The first quarter "is part of the transition period" for the company," said CEO Sankar Das Gupta, "and we expect to be able to build on relationships, new products and new industrial market sectors [in calendar year] 2017."
Clairvest Group Inc. (CVG-T) reported third-quarter net income of $30.8-million or $2.03 per share compared to net income of $11.9-million or 78 cents per share a year earlier.
It said the net income for the third quarter of fiscal 2017 reflects the net investment gains on the sale of Cieslok.
"We concluded the third quarter on a very positive note, realizing an outstanding return on Clairvest's investment in Cieslok and completing a successful recapitalization of the Rivers casino," co-CEO Ken Rotman said in a release.
NeuLion, Inc. (NLN-T) says Tim Alavathil is taking on the role of chief financial officer, effective immediately.
He replaces Trevor Renfield, who resigned on Monday.
" NeuLion would like to thank Mr. Renfield for his leadership and contributions since joining the company following its acquisition of DivX, and wishes him all the best in the future," the company said.
Yellow Pages Ltd. (Y-T) reported fourth-quarter revenues of $202.7-million down 3 per cent, as compared to $208.5-million for the same period a year earlier.
Analysts were expecting revenue of $210.3-million.
Digital revenues grew 10.8 per cent to $143.1 million, representing 70.6 per cent of total revenues. Print revenues decreased 24.8 per cent year-over-year and amounted to $59.6-million of revenues during the fourth quarter ended Dec. 31.
The company recorded a net loss of $431.6-million compared with net earnings of $5.9-million for the same period in 2015.
Before an impairment charge, net of income taxes, net earnings were $6.8-million for the fourth quarter ended Dec. 31.
The company recorded an impairment loss of $600-million related to "certain of its intangible assets, namely its trademarks and non-competition agreements."
Merus Labs International Inc. (MSL-T; MSLI-Q) reported first-quarter revenue of $26.1-million, up from $15.9-million a year earlier.
Its net loss increased to $6.3-million from $900,000 a year earlier. It said $4.3-million of the increase was attributable to foreign exchange.
Adjusted EBITDA increased to $10.8-million from $8.5 million a year earlier.
Callidus Capital Corp. (CBL-T) provided an update on its process to explore privatization of the company, saying 17 parties were approved to enter into non-disclosure agreements.
"We expect to continue the dialogue with a smaller number of interested parties in the next stage of the process, which will focus on the consideration of transaction and operational structures proposed by interested parties while ensuring the previously disclosed minimum valuation threshold remains in place," CEO Newton Glassman said in a release.
The company said the process remains on schedule to be completed by the end of the second quarter of 2017.
Sabina Gold & Silver Corp. (SBB-T) is raising $5.5-million in a bought-deal private placement flow-through financing.
It has an agreement with a syndicate of underwriters to buy nearly 3.2 million flow-through common shares at a price of $1.75 each.
Proceeds will be used to explore and advance its Back River Gold Project.
Petrus Resources Ltd. (PRQ-T) is buying about 40 barrels of oil equivalent per day of production and undeveloped land in the Ferrier area from a private company.
It also announced it was raising $4-million in a non-brokered private placement of approximately 1.6 million shares at $2.53 each.
"It is anticipated that the common shares will be subscribed for by a director of the company," Petrus said in a release.
Pine Cliff Energy Ltd. (PNE-T) approved a capital budget of $18.5-million for 2017 and is budgeting annual production volumes to range from 21,250 to 21,750 barrels of oil equivalent per day (boe/pd), weighted 94 per cent to natural gas.
Pine Cliff's fourth quarter 2016 production was 21,525 boe/pd weighted 93 per cent to natural gas, the company said.
Pine Cliff exited the year with production of approximately 22,000 boe/pd, weighted 94 per cent to natural gas.
The company also said it reduced its bank debt to $30.9-million at Dec. 31 from $155.9-million a year earlier, due largely to the disposition of assets.