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CannaRoyalty Corp
Symbol CRZ
Shares Issued 56,318,410
Close 2018-10-19 C$ 8.42
Market Cap C$ 474,201,012
Recent Sedar Documents

FP says Hexo, rivals see Desjardins soften pot stance

2018-10-22 09:32 ET - In the News

See In the News (C-HEXO) Hexo Corp

The Financial Post reports in its Saturday edition that Desjardins Group has softened its stance on cannabis, and is now accommodating clients and members who want to participate in the industry. The Post's Geoff Zochodne writes that chief executive officer Guy Cormier says: "Do we want to invest in this market? Do we want to be a leader in this market? Totally, no. But we will be there to do business with members and clients that we know very well." Mr. Cormier says Desjardins is already financing some "players" in Quebec. Mr. Cormier says he is not ruling out financing in the capital markets, but that he would remain selective. "If there is an opportunity, we will look at it, but it will be more case by case." Mr. Cormier's comments are softer than those he made in 2017, when he flatly ruled out any interest by Desjardins in the cannabis industry, according to Quebec media reports. The cannabis industry has also been a sensitive subject for Canada's big banks. In general, the major lenders have been leery of the marijuana industry, which remains illegal at the federal level in the United States, where a number of the banks do business. Mr. Cormier says Desjardins is approaching the industry with caution.

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