The Globe and Mail reports in its Thursday, Aug. 16, edition that Canaccord Genuity is a potential buyer of a marijuana business after it launched a takeover vehicle that is searching for an acquisition worth up to $250-million. The Globe's Andrew Willis writes that Canaccord filed the paperwork on Wednesday for an initial public offering from a cannabis-focused special-purpose acquisition corporation, or SPAC. It said the cannabis SPAC will attempt to acquire a privately owned business with an enterprise value of between $50-million and $250-million. Its plan is to stage a friendly takeover of an American or European weed company that wants to go public. Valuations in these regions are significantly less than comparable Canadian companies. Investment bankers involved in the SPAC said domestic cannabis producers can raise money from a variety of sources, including stock offerings, royalty financing and bank loans, while many foreign cannabis businesses face capital constraints as a result of regulatory issues. Canaccord plans to raise up to $40-million for the SPAC by selling units for $3 each. The new cannabis SPAC plans to list on the NEO stock exchange. Cormark Securities is also working on the offering.