Aeterna Zentaris Inc. (NASDAQ and TSX: AEZS) , a specialty biopharmaceutical company developing and commercializing a diversified portfolio of pharmaceutical and diagnostic products, overnight Tuesday said for the three-month period ended March 31, 2024, it reported a net loss of US$5.8 million, or $4.74 loss per common share, as compared with a net loss of $4.3 million, or $3.51 loss per common share (basic) for the three-month period ended March 31, 2023. It said the $1.5 million increase in net loss is primarily due to a $2.1 million decrease in revenue combined with a $1.2 million increase in selling, general and administrative expenses, mostly due to non-recurring expenses incurred for the anticipated merger. This was offset by a $1.4 million decrease in research and development expenses and a $0.4 million increase in net finance income.

Among other highlights, the company ended the quarter with $29.5 million in cash; the DETECT-trial recruitment was completed, and the company continues to expect the completion of the trial in the second quarter and top-line data in the third quarter of 2024; and the all-stock merger of equals transaction with Ceapro is expected to close in the second quarter of 2024.

Orla Mining (OLA.TO, ORLA) reported adjusted earnings for the first quarter were US$16.8 million or $0.05 per share. Net income was $17.5 million or $0.06 per share. Cash flow from operating activities before changes in non-cash working capital was $21.7 million. Exploration and project expenditure was $8.6 million during the quarter, of which $3.9 million was capitalized and $4.7 million was expensed. First quarter gold production was 33,223 ounces and gold sold was 32,046 ounces (pre-released). All-in sustaining costs was $909 per ounce of gold sold. As at March 31, 2024, Orla's cash balance was $118.1 million and net cash was $29.7 million.\ Subsequent to quarter end, the company made a $10.0 million re-payment towards its revolving credit facility reducing the outstanding balance drawn to $78.4 million.

With the acquisition of Contact Gold, Orla intends to increase the 2024 exploration budget in Nevada by $3.0 million. This extra expenditure will increase the total 2024 exploration spend to $14.0 million at South Railroad. During the first quarter, the company spent a total of $8.6 million in exploration and project development or 23% of the revised expected total spending for the year, of which $3.9 million was capitalized and $4.7 million was expensed. The company said it "remains on track" to meet its 2024 gold production guidance of 110,000 to 120,000 ounces and AISC guidance of $875 to $975 per ounce of gold sold.

Meanwhile, Andlauer Healthcare Group Inc. (TSX: AND) announced that the board has approved a substantial issuer bid under which the company will offer to purchase for cancellation up to 2 million subordinate voting shares of the company at a price of $45.00 per Share for an aggregate purchase price not exceeding $90 million. The company believes that the purchase of shares is "in the best interests of the company and represents an attractive investment by the company and an appropriate use of its excess cash-on-hand".

CES Energy Solutions Corp. (CEU.TO) entered into an underwriting agreement to sell, pursuant to a private placement, $200 million aggregate principal amount of 6.875% senior unsecured notes due May 24, 2029. It said the offering of notes supports the repayment of CES' outstanding $250 million secured Canadian Term Loan Facility under "more attractive" terms and provides a maturity extension to 2029 to further strengthen the capital structure to meet the needs of the company while reducing the cost of capital.

Imperial Metals Corporation (TSX:III) announced the Toronto Stock Exchange has accepted the company's Notice of Intention to make a Normal Course Issuer Bid to be transacted through the facilities of the TSX or alternative Canadian trading systems.
Pursuant to the Bid, the company may purchase up to 809,357 common shares, which represents 0.5% of the total 161,871,341 common shares of the company issued and outstanding as of May 14, 2024. Purchases will be made, at the discretion of the company, at prevailing market prices, commencing May 17, 2024 and ending no later than May 16, 2025.

Sulliden Mining Capital Inc. (SMC.TO) announced that Scott Moore has been appointed as the president and chief executive officer and a director of the company, effective immediately.