GMP Capital loses two key mining bankers

Independent investment bank GMP Capital Inc. has lost two of its key mining bankers.The Toronto-based seller announced late on Monday that Doug Bell, vice-chairman, investment banking, and a named executive officer with the company, is leaving to start his own company. Mr. Bell was with GMP for eight decades.A GMP spokesperson also confirmed on Tuesday that Ron D'Ambrosio, a managing director in the mining industry since 2010, has left the firm. Sources Read more [...]

Streetwise newsletter: Aurora goes hostile for CanniMed; BMO names first chief digital officer

Aurora Cannabis Inc. says it is forging ahead with plans to establish a hostile takeover bid to acquire CanniMed Therapeutics Inc., a move that would create Canada's second-largest medical-cannabis firm behind Canopy Growth Corp.. Christina Pellegrini (readers)Bank of Montreal has carved out a new role to direct its electronic modernization and plucked a senior executive from U.S. bank Wells Fargo amp; Co. to fill it. James Bradshaw (readers)Fallen Vancouver tech celebrity BuildDirect.com Technologies Read more [...]

Streetwise newsletter: Last week’s best reads: Aphria, Ivanhoé Cambridge

Best of the WeekAphria defiant amid possible ban from TSXThe stalemate between Canada's largest stock market and its largest publicly listed cannabis firm with assets in the USA shows no signs of lifting any time soon. Christina Pellegrini (readers) Ivanhoé Cambridge attempts to sell stakes in major malls in Toronto, Calgary, Greater VancouverIvanhoé Cambridge is attempting to sell its stakes in three Canadian malls -- a deal that could be worth more Read more [...]

Aphria defiant amid possible ban from TSX

The stalemate between Canada's largest stock market and its largest publicly listed cannabis firm with assets in the USA shows no signs of lifting any time soon.A month ago, the Toronto Stock Exchange (TSX) said it would prohibit shares of bud firms found to be in breach of U.S. federal drug law from its own market. It intends to initiate a sector-wide inspection by the end of the year, however, has yet to publicly lay out how it will apply its own policy.Canadian grower Aphria Inc., whose stock Read more [...]

Streetwise newsletter: Home Capital’s struggles; Element AI to advise Korean Finance

Recovering mortgage lender Home Capital Group Inc. returned to profitability in the third quarter but fought to issue enough new house loans as it undertakes a quick overhaul of its business. James BradshawDAILY DEALSCanniMed Therapeutics Inc. is urging shareholders to wait until the business has time to review an unsolicited takeover offer by Aurora Cannabis Inc. before doing anything. Canadian oil manufacturer Cenovus Energy Inc has put a bundle of some Read more [...]

Streetwise newsletter: Marijuana SPAC eyes Neo listing, Glencore-Teachers deal will see new mining royalty company

An investment vehicle devoted to the budding legal cannabis industry is looking to go public in Canada on the Aequitas Neo Exchange Inc. and increase $125-million (Christina Pellegrini, for readers)DAILY DEALSGlencore PLC is close to finalizing a $700-million (U.S.) deal with the Ontario Teachers' Pension Plan to create a new base-metals royalty company, according to people knowledgeable about the matter. Poshmark, which offers an online marketplace to buy and sell trend products, announced Read more [...]

Amid rising protectionism, BMO places bet on trade finance

Global trade winds may be blustery, but that hasn't stopped Bank of Montreal from dropping anchor in Singapore to pursue new business. With its deep harbour and sophisticated port, Singapore is the gateway to a rich corridor for worldwide trade, and BMO has been mulling an investment to build out its capabilities in the Southeast Asian hub for at least four years. But it was only in the past year that the plan turned serious. Offices such as the one BMO has been building in Singapore serve Read more [...]

Streetwise newsletter: Last week’s best reads: CRA, Loblaw, HBC

A bitcoin craze sweeps Bay Street – and looks a lot like the dot-com boom Clad in a baseball cap and a dark polo shirt, Anthony Di Iorio is a stark contrast against the sea of suits. He paces across the stage as he addresses a crowd of more than 400 portfolio managers, investment advisers and high net worth investors gathered in Toronto's financial district to learn about bitcoin. "How many here are thinking that they want to invest in the space?" Mr. Di Iorio asks. Most of the hands in the Read more [...]

Streetwise newsletter: Manulife eyeing Alternatives for John Hancock U.S. unit

Canadian insurer Manulife Financial Corp is "considering all options" for the future of its John Hancock U.S. unit, new Chief Executive Officer Roy Gori said in an interview on Thursday. DAILY DEALSATamp;T Inc won't sell cable network CNN to win antitrust approval of its proposed $85.4-billion purchase of media company Time Warner Inc and will fight the government in court if both sides can't reach an agreement, the wireless company's chief executive said. Read more [...]

Streetwise newsletter: CRA fight could cost Loblaw; U.K. regulator delays banning jailed Libor Dealer

With Canadian-owned offshore businesses facing increasing scrutiny, a Loblaw Cos.. Ltd. affiliate is fighting with the Canada Revenue Agency over taxes on the earnings of a Barbadian subsidiary, in a battle that could cost the grocer greater than $350-million. (Josh O'Kane, readers)Britain's markets regulator said on Wednesday it would postpone banning accusing former dealer Tom Hayes in the financial services sector prior to an investigation into his conviction was completed. DAILY DEALS Read more [...]