Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
Starlight Investments and KingSett Capital have signed a deal to buy Northview Apartment Real Estate Investment Trust (NVU.UN-T) in a transaction valued at about $4.8-billion, including debt.
Under the friendly deal, Northview unit-holders will have the option to receive $36.25 per trust unit in cash or receive their payment in units in a Canadian high yield multi-residential fund that will be publicly listed on closing.
Northview units closed at $32.50 on the Toronto Stock Exchange on Wednesday.
The deal, which has the unanimous support of the Northview board, requires approval by Northview unitholders. It includes an initial 30-day go-shop period that will run to March 20 that will allow Northview to solicit and evaluate alternative offers.
The transaction is expected to close during the third quarter of 2020.
-The Canadian Press
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Cargojet Inc. (CJT-T) reported fourth-quarter revenue of $139.7-million, an increase from $132.6-million for the previous year. Analysts were expecting revenue of $141-million,
Its net loss was $4.5-million or 32 cents per share versus a profit of $6.3-million or 47 cents per share. Adjusted EBITDA was $47.2-million, an increase of $7-million or 17.4 per cent versus the previous year.
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Quarterhill Inc. (QTRH-T), through a WiLAN subsidiary, has acquired a portfolio of patents from International Business Machines Corp. “The acquired patents relate to semiconductor manufacturing process technologies. All other terms of the agreement are confidential,” the company stated.
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North American Construction Group Ltd. (NOA-T; NOA-N) announced fourth-quarter revenue of $189.5-million, compared to $131-million for the same period in the prior year.
Net income was $8.2-million or 28 cents per share versus $2.7-million or 10 cents per share a year earlier. Adjusted EPS was 38 cents versus 18 cents a year earlier.
Analysts were expecting revenue of $207-million and adjusted earnings of 41 cents per share.
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Sienna Senior Living Inc. (SIA-T) announced fourth-quarter revenue of $172-million up from $169.4-million a year ago. Analysts were expecting revenue of $168.9-million.
Net income was $1.1-million or 1.7 cents per share versus net income of $302,000 or 0.6 cents per share a year earlier.
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Guardian Capital Group Ltd. (GCG-T) reported revenue of $49.9-million in the fourth quarter, up from $44.3-million a year ago. Analysts were expecting revenue of $47.4-million.
Net earnings attributable to shareholders were $30.8-million versus a loss of $70.4-million a year earlier.
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Osisko Gold Royalties Ltd. (OR-T; OR-N) reported revenue of $51-million down from $115.3-million a year earlier. Its net loss was $155.2-million or $1.04 per share versus a loss of $113.9-millio nor 73 cents a year earlier.
Adjusted earnings were $10.3-million or 7 cents per share compared to $13-million or 8 cents per share a year ago.
Analysts were expecting revenue of $47.3-million and adjusted earnings of 6 cents.
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Summit Industrial Income REIT (SMU.UN-T) reported fourth-quarter revenue from income properties of $41.2-million up from $26.8-million a year earlier. Net income was $66.3-million or 49 cents per unit compared to $59.3-million or 66.7 cents a year earlier.
Funds from operations (FFO) came in at $19.3-million or 14.4 cents versus $12.6-million or 14.1 cents a year earlier. Analysts were expecting FFO per unit of 15 cents and revenue of $41.1-million.