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Kelowna-based Paragon Pharmacies Ltd. (TSX-V:PGN) has acquired Winnipeg, Manitoba's Alentex Pharmacy for $7.5 million in cash. Alentex provides pharmaceutical services to assisted living and long-term care homes in the Winnipeg area.

Vancouver's Ascendant Copper Corp. (TSX:ACX) plans to buy Montreal's St. Genevieve Resources Ltd. (CNQ:SGVL) in an all-share deal estimated to be worth up to $6.3 million.

The Canfor Pulp Income Fund (TSX:CFX) is still assessing the cost of a fire that damaged one of its mills in Prince George late Tuesday. The fire broke out at P.G. Pulp and Paper and damaged the large conveyer that brings chips into the mill.

In its first announcement since beginning a major review of assets in November, QLT Inc. (TSX:QLT;Nasdaq:QLTI) said it will cut its workforce and sell both its Vancouver headquarters and its American subsidiary.

Led by activist investor George Armoyan, Halifax-based Clarke Inc. (TSX:CKI) has acquired a majority stake in Vancouver's ailing Art in Motion Income Fund (TSX:AIM.UN). In a private placement, Clarke acquired GVP Holdings Inc.

Vancouver's Galena Capital Corp. (TSX-V:FYI) plans to acquire Norma Canada in an all share deal worth roughly $9.7 million. The acquisition will give Galena two mineral properties in Mexico and four in Peru in exchange for 4.2 million Galena shares.

Vancouver's Xantrex Technology Inc. (TSX:XTX), which develops power products for the alternative energy industry, has won a $25 million contract to provide wind power converters to an undisclosed company.

B.C. is projected to remain one of Canada's strongest economies in 2008, despite continued fallout from the U.S. sub-prime mortgage crisis that continues to ripple through the global economy. Warren Jestin, Scotiabank's chief economist, said B.C.

A subsidiary of Vancouver's Polaris Minerals Corp. (TSX:PLS) has bought 12.6 acres of land within the Port of Long Beach, California, for an undisclosed sum. The site acquired by Eagle Rock Aggregates Inc.

Vancouver-headquartered CY Oriental Holdings Ltd. (TSX-V:CYO) has completed its first shipment of branded apparel from its new manufacturing plant in Tengzhou, China.