11:06:38 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Canaccord Genuity Group Inc
Symbol CF
Shares Issued 113,512,781
Close 2018-03-12 C$ 7.07
Market Cap C$ 802,535,362
Recent Sedar Documents

Globe says BMO the first big bank to lead a pot deal

2018-03-13 08:31 ET - In the News

See In the News (C-BMO) Bank of Montreal

The Globe and Mail reports in its Tuesday edition that in Canada, non-bank investment houses have dominated the weed industry, taking dozens of companies public, underwriting equity sales and advising on deals. The Globe's Christina Pellegrini writes that is because the biggest banks have mostly been watching from the sidelines, as they weigh the risks of banking these early-stage companies and selling their volatile shares into their vast retail platforms. BMO Nesbitt Burns in January co-led a $200-million financing for Canopy Growth, marking the first time a big bank has led a cannabis deal. The other co-lead in Canopy's January deal was GMP Capital, which brought Canopy's -- and the industry's -- first equity sale to market in April, 2014. Small firm Clarus Securities entered the fray in 2015 with Aphria, now the country's third-largest cannabis grower by market cap. It has also worked with businesses linked to Aphria, including Liberty Health Sciences and Nuuvera. In 2016, Canaccord Genuity jumped into the space as part of a share sale by Mettrum Health, which was sold to Canopy in early 2017, and has thrived in this market. Ever since, Canaccord has attracted clients in Canada and the United States.

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