12:17:02 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canaccord Genuity Group Inc
Symbol CF
Shares Issued 113,512,781
Close 2018-03-08 C$ 6.92
Market Cap C$ 785,508,445
Recent Sedar Documents

Globe says Maricann CEO claims underwriter killed deal

2018-03-09 08:27 ET - In the News

See In the News (C-MARI) Maricann Group Inc

The Globe and Mail reports in its Friday, March 9, edition that Maricann Group chief executive officer Ben Ward is taking aim at the underwriters who terminated a recent financing. The Globe's Tim Kiladze and Christina Pellegrini write that in late January, Maricann announced a bought deal to raise at least $70-million, with Eight Capital and Canaccord Genuity serving as the lead banks. They each had agreed to buy 40 per cent of the deal from Maricann and then resell those securities to other investors. Last week, the syndicate of underwriters formally cancelled the deal after The Globe reported that Maricann had not disclosed a probe by the Ontario Securities Commission into Mr. Ward. The OSC has also made inquiries into recent trading by company directors. Mr. Ward alleges that an unnamed underwriter sought to tank the deal because pot stocks tumbled shortly after the financing was launched. He said: "We believe the underwriter in question was working with clients that shorted our stock in the wake of the deal collapsing with the intention of destroying Maricann's shareholder value and making off like bandits at the same time. ... There was clearly something nefarious afoot."

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