13:50:38 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canaccord Genuity Group Inc
Symbol CF
Shares Issued 113,511,468
Close 2017-11-03 C$ 4.55
Market Cap C$ 516,477,179
Recent Sedar Documents

Globe says CIBC quits underwriting blockchain fund

2017-11-06 08:08 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce

The Globe and Mail reports in its Saturday edition that unnamed sources say CIBC World Markets has pulled out as an underwriter for a $100-million blockchain-focused venture capital fund led by Alex Tapscott. The Globe's Niall McGee and Alexander Posadkzi write CIBC's decision to withdraw came after Forbes said four people who had been named in marketing materials as advisers to the fund had not, in fact, agreed to that. The fund, named NextBlock Global, is aiming to go public on the TSX Venture Exchange, and Mr. Tapscott is the chief executive officer. CIBC and Canaccord Genuity Group were named co-underwriters of the deal. An e-mail sent by CIBC to investors on Friday said the bank "has withdrawn as an agent from the NextBlock Global Ltd. private placement." Vinny Lingham, CEO of U.S.-based blockchain startup Civic, said Mr. Tapscott used his name falsely as an adviser in materials designed to market the fund. He said he confronted Mr. Tapscott about the matter over an e-mail recently and that Mr. Tapscott initially denied using his name. The Globe identifies several others people who were unaware their names and pictures were being used in NextBlock promotional material.

© 2024 Canjex Publishing Ltd. All rights reserved.