Velan Inc. (T.VLN) hit a new 52-week high of $16.00; Velan reported solid financial results for the three months ended November 30, 2009. Sales for the quarter were $111.2 million, up slightly over last year's strong sales.
The net earnings for the three months were $7.6 million, or $0.34 per share. For the nine months ended November 30, 2009. The gross profit of the third quarter of $34.4 million, or 30.9% of sales, compared to a gross profit of $27.4 million, or 24.9% of sales, recorded last year.
C.A. Bancorp Inc. (T.BKP) hit a new 52-week high of $1.41; C.A. Bancorp Inc. announced that it has closed a $1.2 million follow-on interest yielding mortgage investment in Kingswood Drive Kitchener Limited Partnership. The Partnership owns a 360-unit Kingswood Apartment Complex located in Kitchener, Ontario.
C.A. Bancorp owns a 80% limited partnership interest in the Partnership, Centurion Apartment Properties Limited Partnership holds 10%, and the remaining 10% is held by an outside institutional investor, all on a pari-passu basis. C.A. Bancorp's 80% limited partnership interest was purchased for $6.0 million. C.A. Bancorp's $1.2-million mortgage investment is being matched on a proportionate basis by the other two limited partners ($150,000 each).
The total $1.5 million in mortgage proceeds will be utilized by the Partnership to refinance existing debt and to fund future unit upgrades and yields an interest rate of 10%.
Polymet Mining Corp. (T.POM) hit a new 52-week high of $3.89; no news announcements today
Continental Precious Minerals Inc. (T.CZQ) hit a new 52-week high of $1.20; no news announcements today
North American Palladium (T.PDL) hit a new 52-week high of $4.63; no news announcements today
IESI-BFC Ltd. (T.BIN) hit a new 52-week high of $17.56; no news announcements today
Sierra Wireless (T.SW) hit a new 52-week high of $13.44; no news announcements today
Sears Canada Inc (T.SCC) hit a new 52-week high of $24.79; no news announcements today
ATS Automation (T.ATA) hit a new 52-week high of $8.45; no news announcements today
Exchange Income Corp. (T.EIF) hit a new 52-week high of $13.91; no news announcements today
