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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.

Baytex Energy Corp. (BTE-T, BTE-N) announced preliminary results for its fourth quarter ended Dec. 30 including revenue of $428-million and adjusted funds flow of $232-million. Analysts are expecting revenue of $387.9-million for the quarter.

For the same quarter a year earlier, the company reported revenue of $358.4-million and adjusted funds flow of $110.8-million.

The company said its 2020 guidance remains unchanged with targeted production of 93,000 to 97,000 barrels of oil equivalent per day with exploration and development expenditures of $500-million to $575-million.

Separately, Baytex announced that it intends to offer US$500-million in senior unsecured notes due 2027 in a private placement offering, "subject to market and other conditions." The notes will pay interest semi-annually in arrears. "The final terms of the notes will be determined at the time of pricing," the company said.

Baytex said it intends to use the net proceeds from the offering and its existing unutilized credit facilities to redeem US$400-million of its outstanding 5.125% notes due June 1, 2021 and $300-million of its outstanding 6.625% debentures due July 19, 2022.

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Enerplus Corp. (ERF-T; ERF-N) announced that its 2020 exploration and development capital budget will be between $520-million to $570-million, down from $625-million in 2019.

CEO Ian Dundas said the 2020 plan is expected to generate 12-per-cent liquids production per share growth under the reduced capital program. “This plan is also expected to generate free cash flow at oil prices above US$50 per barrel WTI, a portion of which we intend to continue returning to shareholders through our dividend and opportunistic share repurchases,” he stated.

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NFI Group Inc. (NFI-T) announced a new contract with the Regional Transit Service, Inc. (RTS) in Rochester, New York for 10, 40-foot, zero-emission, battery-electric Xcelsior Charge heavy-duty transit buses, with an option to purchase up to 20 additional buses over the five-year term of the contract.

“The buses will help RTS achieve its vision of being the innovative mobility choice, while providing a more customer-focused transit experience,” NFI Group stated in a release. “With no tailpipe emissions, the Xcelsior Charge buses will commence a more efficient chapter of mobility for the greater Rochester area.”

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Enthusiast Gaming Holdings Inc. (EGLX-X) announced the company has received final approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange. Enthusiast Gaming expects its common shares will start trading on the TSX under the same ticker symbol “EGLX” on Jan. 27.

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Tetra Bio-Pharma Inc. (TBP-X) announced a $10-milllion bought-deal financing. The company said Echelon Wealth Partners Inc. has agreed to purchase 18,868,000 units of the company at a price of 53 cents per unit. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to buy one common share for 75 cents each for 36 months.

The company said it intends to use the net proceeds for working capital and general corporate purposes.

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Points International Ltd. (PTS-X; PCOM-Q) reported some preliminary fourth-quarter and full-year 2019 financial results on Tuesday. The company said fourth-quarter 2019 gross profit is expected to be between $17.3-million and $17.7-million, with adjusted EBITDA ranging between $6.8-million and $7.2-million. It said these are quarterly records. It said these expected results compare to $14.1-million of gross profit and $5-million in adjusted EBITDA in the fourth quarter of 2018.

“We are very pleased to have closed out 2019 with an exceptional fourth quarter and expect to report quarterly records in both gross profit and adjusted EBITDA,” said CEO Rob MacLean.

Points said it will report its final fourth-quarter and full-year 2019 results and issue its 2020 outlook on March 4.

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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 27/03/24 4:00pm EDT.

SymbolName% changeLast
ERF-T
Enerplus Corp
+1.15%26.28
BTE-T
Baytex Energy Corp
+1.92%4.77
NFI-T
Nfi Group Inc.
+3.98%13.32

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