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) reported its third-quarter profit fell compared with a year ago as its revenue grew eight per cent.
The television and radio broadcaster says its net income attributable to shareholders totalled $29.6-million or 14 cents per diluted share for the quarter ended May 31, down from $40.7-million or 19 cents per diluted share a year earlier. The expectation was for earnings of 20 cents per share in the latest quarter, according to S&P Captial IQ.
Revenue for the three-month period totalled $433.5-million, up from $402.3-million. The expectation was for revenue of $417-million.
The increase came as revenue at the company’s television business rose to $404.1-million compared with $379.8-million a year ago.
Radio revenue at Corus totalled $29.3-million for the quarter, up from $23.2-million in the same quarter last year.
Corus CEO Doug Murphy says its portfolio of businesses is producing growth on all fronts, delivering strong consolidated revenue gains for the fifth consecutive quarter.
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Tidewater Renewables Ltd. (LCFS-T) announced a multi-year agreement with an investment-grade company to sell Federal Clean Fuel Regulation (CFR) credits that it will receive through the production and sale of fuel produced at the Renewable Diesel & Renewable Hydrogen Complex in Prince George, B.C.
“This is Tidewater Renewables’ inaugural CFR credit sale, which we believe is the first of its kind in Canada,” stated CEO Joel MacLeod.
As part of the transaction, Tidewater Renewables has agreed to sell a total of 45,000 CFR credits at $95 each. “This multi-year agreement, which extends to June 30, 2025, adds previously unrecognized value for CFR credits and Tidewater Renewables will receive total proceeds of over $4-million over the term of this agreement,” it stated.
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Coeur Mining Inc. (CDE-N) announced an agreement with Cormark Securities Inc. to sell five million common shares Victoria Gold Corp. (VGCX-T) at a price of $10.90 per share to qualified purchasers, for gross proceeds of approximately C$54.5-million.
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Shawcor Ltd. (SCL-T) announced it has finalized the sale and leaseback agreement for its Rexdale facility and said net proceeds of approximately $49-million exceeded the previously communicated amount. Proceeds from the property sale will be used to reduce debt, it stated.
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BTB Real Estate Investment Trust (BTB.UN-T) announced the acquisition of an industrial property in Edmonton for $12.95-million, excluding transaction costs and adjustments.
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With a file from The Canadian Press
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