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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.

Corus Entertainment Inc. (CJR.B-T) slashed its dividend as part of a plan to reduce its debt as it reported a loss of $935.9-million in its latest quarter and took a $1.01-billion non-cash impairment charge related to broadcast licences and goodwill.

The company says it will pay a quarterly dividend of six cents per class B share starting in September compared with its current dividend which is a monthly payment to shareholders of 9.5 cents per class B share.

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The reduction came as Corus says the loss amounted to $4.49 per share for the quarter ended May 31 compared with a profit of $66.7-million or 33 cents per share a year ago.

Revenue in what was the company’s third quarter totalled $441.4-million, down from $461.6-million in the same quarter last year.

On an adjusted basis, which excludes the impairment charge and other one-time items, Corus says it earned $78.1-million or 37 cents per share for the quarter compared with an adjusted profit of $70.1-million or 35 cents per share a year ago. Analysts on average had expected a profit of 36 cents per share, according to Thomson Reuters Eikon.

-The Canadian Press

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AGF Management Limited (AGF.B-T) reported income for the three months ended May 31 of $114.2-million, which was above expectations of $112.8-million and compared to $117.1-million for the three months ended May 31, 2017. EBITDA was $20.6-million compared to $29.2-million for the same period in 2017.

Diluted earnings per share came in at 21 cents compared to 16 cents for the comparative period. Adjusted EPS was 14 cents, which was slightly below expectations of 15 cents and compared to 16 cents for the comparative period.

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Total assets under management increased 5.6 per cent to $38.5-billion year-over-year.

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Pengrowth Energy Corp. (PGF-T) announced an update to its operational and development plans, including a targetted 40-per-cent production growth at its Lindbergh operation by 2020, compared to 2017. It also said its expansion spending will be aligned with cash flow generation “while adding no incremental debt.” The company also said it’s assessing third-party proposals to construct and own additional co-generation capacity at Lindbergh “to provide steam and power for further expansion in late 2020 allowing Pengrowth to focus capital on drilling new well pads and infill drilling.”

CEO Pete Sametz said the strategy “allows us to rapidly change gears depending on the price of oil, while still enabling us to pursue incremental production growth.”

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WPT Industrial Real Estate Investment Trust (WIR.U-T) says it closed a new US$300-million unsecured credit facility, which includes a US$175-million unsecured revolving credit facility and a US$125-million unsecured delayed draw term loan. The credit facility also contains an accordion feature that allows the REIT to increase availability by an additional US$300-million, the company stated.

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“With this new unsecured credit facility, the REIT has enhanced liquidity at more favorable pricing, giving us more capacity and flexibility to fund our growth and operating initiatives,” stated CEO Scott Frederiksen in a release.

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Blackbird Energy Inc. (BBI-X) reported sales of $6.4-million in the quarter ended April 30, which was in line with expectations of $6.3-million and compared to $3.3-million a year earlier. Its net loss was $47,000 or nil per share versus a loss of $1.5-million or nil cents a year ago.

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Emerald Health Therapeutics, Inc. (EMH-X) and Village Farms International, Inc. (VFF-T) said their Pure Sunfarms joint venture received an amendment to its cultivation license for its Delta 3 greenhouse from from Health Canada. “This amendment permits Pure Sunfarms to substantially expand its cannabis production to 225,000 square feet of the 1.1-million square foot Delta 3 production facility,” the company stated.

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Baylin Technologies Inc. (BYL-T) says its Advantech Wireless Technologies Inc. subsidiary has received an order from a NATO member country for more than $1-million of its military-grade X-Band Solid State Power Amplifiers (SSPAs) and Block Up Converters (BUCs).

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DHX Media Ltd. (DHX-T; DHXM-Q) says a special committee of the board is continuing its strategic review. “Management and the special committee continue to process multiple opportunities and expect to report back in due course,” the company said in a release. “The special committee confirms that the previously announced sale of a minority stake in Peanuts to Sony is on track and expected to close in July 2018.”

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