Small cap news round-up

MTI Wireless Edge has won a new contract worth $600m from an existing European customer in the military sector.

The AIM-listed developer and manufacturer of sophisticated antennas and antenna systems said the contract represents an additional element to the one announced on 14 June and will be delivered until mid-2018.

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AIM-listed 1PM has announced plans to launch a secured loan note programme (SLNP) to raise up to £7.5m in borrowing from private and institutional investors to meet demand for loans from SMEs and provide the flexibility to fund adjacent products and potential acquisitions.

The company, which provides finance facilities to the SME sector, said the SLNP will be arranged and administered through LGB Corporate Finance, which will also act as a security trustee.

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Producer and marketer of stevia sweetening ingredients PureCircle announced its unaudited interim results for the six months to 31 December on Tuesday, with sales of $47.2m, a decrease of 13.4%, as a direct consequence of temporary import restrictions from US Customs and Border Protection.

The London-listed firm said sales outside of the US increased 10%.

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Radiation detection technology company Kromek announced on Tuesday that it was awarded a contract, valued at $0.99m, by an existing US-based customer for the upgrade of its advanced security screening detectors that have been deployed since 2009.

The AIM-traded firm described the unnamed customer as a global leader in aerospace and defence technologies.

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Domain name sales and services platform CentralNic Group updated the market on its performance in 2016 on Tuesday, as it outlines its strategy for the year ahead.

The AIM-traded company said it continued to grow in 2016 as recurring revenues increased, with group revenue improving by more than 110% to £22.1m.

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Shares in Mountfield Group are up almost 40% after saying the problems it had faced in past years were now behind it.

It added subsidiaries Connaught Flooring Ltd (CAF) and Mountfield Building Group (MBG) had traded profitably in 2016.

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East Russia-focussed nickel-copper sulphide mineral exploration and resource development company Amur Minerals Corporation announced its plans for the 2017 field programme on Tuesday.

The AIM-traded firm said the programme would be comprised of the continuation of exploration drilling and the completion of additional site investigation work related to engineering work for consideration in the development of Kun-Manie.

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Shares in RedstoneConnect are up more than 10% after stating it expects reported pre-tax profit to be about £1.5m, with adjusted EBITDA seen coming in at about £2m.

Chief executive Mark Braund noted RedstoneConnect's progress in the past year.

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Shares in SQS Software Quality Systems are down more than 11% after it flagged an expectation of subdued growth in the US market, but anticipated growth in German-speaking countries, UK, Ireland and Italy.

Current trading, it said, however, and ongoing strategic developments were in line with management expectations following recent significant contract wins.

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Shares in exploration and mine development company Ortac Resources are up almost 8% after it lifted its investment in Casa Mining to 21.71%.

It acquired 69,444 shares through a private placement at $0.72 a share, taking the company's total stake to 1.56m shares.

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Sunrise Resources' shares fell almost 9% after the diversified mineral exploration and development company raised £250,000 at 0.1p a share in a placing.

The company said net funds raised would be used to progress its industrial mineral and precious metal projects in Nevada, as well as for general working capital.

Ireland-based agri-services group Origin Enterprises is to buy Bunn Fertiliser for up to £18.2m, in order to expand its fertiliser capacity.

The acquisition, which is subject to clearance from the Competition and Markets Authority in the UK, would extend Origin's existing fertiliser blending activities, as well as its customer service capabilities, and enable it to optimise operation and logistic efficiencies.

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AIM-listed Craneware reported a rise in half-year revenue and profit and said it was well positioned for future growth.

In the six months to the end of December, revenue grew 16% to $26.8m, with adjusted earnings before interest, taxes, depreciation and amortisation up 16% to $8.2m.

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AIM-listed FastForward Innovations has invested in Canadian medicinal marijuana company Nuuvera Corp in a bid to capitalise on the increasing global deregulation of the drug.

FastForward paid CA$3m for a 4.7% stake in Nuuvera as part of a CA$43.65m equity fundraise, of which it subscribed for 3m Nuuvera shares at CA$1 each.

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AIM-listed Staffline has announced the acquisition of Ireland-based Oak Recruitment, which specialises in industrial recruitment on a temporary and contract basis, for an undisclosed sum.

Established in 2006, with premises in Cork, Dublin and Limerick, Oak Recruitment has been supplying staff to the industrial supply chain for 11 years and brings with it specialist recruiters with in-depth knowledge and experience.

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AIM-listed Benchmark Holdings has signed a long-term agreement with salmon producer SalMar to provide genetics, health and knowledge services to the company.

Benchmark said the full suite of services it is providing illustrates its "leading position in the market, as well as its ability to offer a wide spread of products and solutions across the salmon's life cycle".

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Footwear retailer Shoe Zone has promoted Jonathan Fearn as chief financial officer and a member of the board with immediate effect.

Fearn joined the AIM-listed company in July last year as finance director from Celesio Group, formerly Lloyds Pharmacy.