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Our roundup of Canadian small-caps making news and on the move today. This post will be updated through the morning.

Canadian telecom services provider Mitel Networks Corp. said it would buy mobile networking software maker Mavenir Systems Inc. for $560-million in cash and stock.

Mitel earlier tried to buy ShoreTel Inc but the smaller U.S. company rejected its raised bid of $574-million in November.

Buying Mavenir will help Mitel tap the Voice over Long-Term Evolution (VoLTE) market, which repackages voice calls as data and transmits them over carriers' high-speed data networks.

Mavenir's stockholders will receive $11.08 and 0.675 Mitel share for every share they hold. The offer is valued at $17.94, based on Mitel's Friday close.

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Allana Potash Corp. announced positive results of an independent Preliminary Economic Assessment on the production of sulfate of potash at its Danakhil Potash Project in Ethiopia.

The PEA is based on commercial operations that produce one million tonnes per year of a standard SOP product over an estimated operating life of 77 years.

Farhad Abasov, CEO of Allana commented: "The PEA's extremely positive results give Allana great confidence in the SOP potential at the project and management will evaluate undertaking a full feasibility study for the production of SOP. The PEA also allows Allana to move forward confidently with its project finance plans and ongoing talks with potential strategic partners. Allana has retained a financial advisor to assist the company in its evaluation of various options to maximize the value of the SOP potential for Allana shareholders."

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Coastal Gold Corp. and Sulliden Mining Capital Inc. have signed a definitive arrangement agreement under which Sulliden will acquire all of the issued and outstanding common shares of Coastal Gold.

Sulliden will acquire each outstanding Coastal Gold common share for 0.05 of a Sulliden share. The exchange ratio represents $0.0166 per Coastal Gold common share, based on Sulliden's 60-trading day volume weighted average price of $0.33. The implied transaction value is approximately $4.06-million, including the assumption of $1.25-million in debt.

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Bankers Petroleum Ltd. announced the results of its Dec. 31, 2014, independent reserves evaluation. 1P and 2P reserves were cut between 12 per and 15 per cent.

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Just Energy Group Inc. announced it will pay a March quarterly dividend at 0.125 per share, or 50 cents on an annual basis.

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Fission Uranium Corp. announced results from hole PLS15-343 and the discovery of new high-grade at the R600W zone at its PLS property in Canada's Athabasca Basin region. The land-based hole returned 9.31m of greater than 10,000 cps radioactivity over a 65.5m mineralized interval, including a continuous 8.85m mineralized interval of greater than 10,000 cps radioactivity with peaks up to 52,900 cps at shallow depth.

Ross McElroy, President, COO, and Chief Geologist for Fission, commented, "This is an absolutely tremendous result that gives us high grade mineralization over half a kilometer west of Triple R deposit, which is wide open in all directions. It immediately puts the R600W zone into an elite class, hosting significant high-grade uranium mineralization, similar to that seen in the Triple R deposit to the east."

Raymond James analyst David Sadowski raised his price target to $2.50 (Canadian) from $2.30 and reiterated a "strong buy" rating after reviewing the latest announcement from Fission. "The key differentiator of 'R600W' is that it is situated entirely on-land (unlike R00E and R780E which are underneath Patterson Lake) and if the zone continues to grow, we believe this could have several positive implications for future development; raises the target on eventual contained metal (we see >150 Mlbs as likely); and should provide additional comfort to potential suitors of the company on the project's 'mineability'," he said in a note.

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Accord Financial Corp. announced a rebranding of its equipment financing subsidiary, Varion Capital Corp., which will begin doing business as Accord Financial. Accord acquired Varion in January 2014, and the name change completes the transition of the subsidiary into a "national equipment finance company operating under the Accord banner," the company said.

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Patient Home Monitoring Corp. named David Hayes as its new chief executive officer. Mr. Hayes founded Resource Medical Group, a company focused on pulmonary disease services, which was acquired by Patient Home Monitoring in January 2014. The company also announced that Jess Cuthbert, co-founder of Resource Medical Group, will become chief operations officer. "I am confident that the new executive team will continue to execute on our organic growth plan as we make more and more acquisitions," said Michael Dalsin, chairman of Patient Home Monitoring.

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Trez Capital Mortgage Investment Corp. announced the initial closing of its Capital Finance Fund V with $139-million of committed capital. The company launched the fund in response to strong institutional demand for its four predecessors, which raised a total of $369-million between 2008 and 2014.

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Centric Health Corp. said it has acquired 100 per cent of the shares of Pharmacare Fulfillment Center Ltd., an Edmonton-based specialty pharmacy business operating under the Care Plus, Pharmacare and Lidia's Pharmacy brands. "The addition of the Care Plus Group effectively expands our number of residents serviced by almost 25 per cent, further solidifying our position as one of the top three long-term care and retirement community pharmacy providers in Canada," said David Cutler, CEO of Centric Health. The total consideration for the acquisition, including future payments tied to earnings, will be up to $34-million.

With a file from Reuters

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