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

WestJet Airlines Ltd. (WJA-T) commented after markets closed Monday on the federal government’s announcement concerning the pending release of passenger protection regulations.

The company said it will "review the regulations for potential impact on the obligations of our partners in the air travel supply chain, including federal government agencies, along with potential impacts on airfares and consumers," once the draft regulations are released on Dec. 22.

"We look forward to the opportunity to participate in the upcoming public consultation to ensure the draft regulations achieve the appropriate balance sought by the Minister of Transport," the company stated.

**

TransAlta Corp. (TA-T; TAC-N) announced an investment in the Tidewater gas pipeline and an investment in a wind project in Alberta. The company said it will exercise its option to acquire 50-per-cent ownership in the gas pipeline connecting Tidewater Midstream and Infrastructure Ltd. (TWM-T)'s Brazeau River Complex to TransAlta’s generating units at Sundance and Keephills.

TransAlta also said it will invest $275-million in its 207 MW Windrise wind project, "which was selected by the Alberta Electric System Operator as one of the two successful projects in the Renewable Electricity Program ("REP") Round 3."

The company also said it expects to deliver between $270-million and $330-million of free cash flow in 2019.

**

ATS Automation Tooling Systems Inc. (ATA-T) said it has received an order booking from a global life sciences customer, a current customer, valued at about $60-million. The company said the order includes design, delivery and installation of two “turnkey, fully automated manufacturing and packaging systems.”

"This order booking follows on our successful relationship with a market leader in life sciences and gives ATS the opportunity to deploy its capabilities to deliver innovative, high-quality automation solutions," said Andrew Hider, CEO of ATS.

**

Laurentian Bank of Canada (LB-T) said its chair Isabelle Courville will complete her term at the annual meeting of shareholders in the spring of 2019, after having served for 12 years, which the bank said it in line with its policy governing the term limits for directors. Michael Mueller joins the board as vice chair and the board also announced its intention to appoint him as chair, the company stated.

**

Holloway Lodging Corp. (HLC-T) announced that it sold the Holiday Inn hotel in Ottawa for $50-million. Holloway estimates that it will record a gain on sale of approximately $26.3-million in the fourth quarter and does not anticipate paying any cash tax on the sale of the property.

The company also said issued a notice of redemption to the holders of its 7.5 per cent Series C convertible unsecured subordinated sdebentures due Sept. 30, 2021 and announced its intention to buy back about 1.2 million of its common shares at $6.50 each, or about 7 per cent of its outstanding shares. It said the price is a 10.2-per-cent premium over Monday's closing price.

**

theScore, Inc. (SCR-X) announced plans to launch a mobile sportsbook in the U.S. after securing market access through an official licensing partnership with Darby Development LLC , the operator of the Monmouth Park Racetrack in New Jersey and the New Jersey Thoroughbred Horsemen’s Association.

“This agreement paves the way for theScore to offer online and mobile sports betting across New Jersey, subject to receiving all required approvals and licenses from the State of New Jersey Division of Gaming Enforcement and the New Jersey Racing Commission,” the company stated. “Subject to receipt of these approvals, theScore anticipates rolling out its sports betting platform in New Jersey in mid-2019.”

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Eldorado Gold Corp. (ELD-T; EGO-N) said it’s proceeding with a 5:1 consolidation of the common shares of the company effective Dec. 27.

“Following the consolidation, the number of outstanding common shares of the company will be reduced from approximately 794 million outstanding common shares to approximately 159 million outstanding common shares,” the company stated.

**

Luxfer Holdings PLC (LXFR-N) said it’s buying Neo Performance Materials Inc. (NEO-T) for US$612-million in cash and stock. Neo Performance Materials manufactures rare earth and rare metal-based functional materials.

"The transaction accelerates Luxfer’s strategy to become a leading global manufacturer of highly-engineered advanced materials for high-end applications," the company stated.

If the deal is approved, shareholders of Neo Performance Materials will receive US$5.98 in cash and 0.395 Luxfer shares for each common share of Neo Performance Materials. Post-transaction, current Luxfer shareholders will own approximately 63 per cent of the combined company on a pro forma basis.

Luxfer said it has arranged US$375-million in committed financing in a syndicated term loan B to fund the cash portion of the purchase price, fees and expenses, and refinance existing debt.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 2:05pm EDT.

SymbolName% changeLast
LB-T
Laurentian Bank
+0.07%28.05
TA-T
Transalta Corp
-0.69%8.69
TAC-N
Transalta Corp
-0.62%6.41
ELD-T
Eldorado Gold
+0.69%19.1
EGO-N
Eldorado Gold Corp
+1.15%14.13
LXFR-N
Luxfer Holdings Plc
-1.14%10.37
NEO-T
NEO Performance Materials Inc
+3.25%6.36

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