The cannabis industry faces a raft of stiff regulatory and financial hurdles even where it’s operating legally.Dave Chan/The Globe and Mail
Why takeovers are back in Canada's mining sector
The country's largest mining companies have lost their way, according to geologist Mark O'Dea. Heavy debt loads, a hangover from the last commodity boom, along with cost overruns on megaprojects and five years of weak metals prices have combined to all but paralyze the industry's major players, in Mr. O'Dea's view. He sees the sector's collective state of stupor as fatally short-sighted; big-name companies are chewing through reserves and failing to replace them by acquiring new mines. Story
Canadian Securities Exchange to pot firms with U.S. ties: We're open for business
The Canadian Securities Exchange tried to quell growing concerns in the country's cannabis sector over legal risk, reiterating Friday that its market welcomes new stock listings of pot companies with assets in the United States should they meet its disclosure rules and other listings standards. Story
Co-CIOs leaving Sprott after management buyout
Dennis Mitchell is leaving Sprott Inc. alongside co-chief investment officer Scott Colbourne, as a result of a buyout of the firm's mutual-fund business. In April, Sprott's chief executive officer, John Wilson, and president, James Fox, bought Sprott Asset Management for $46-million. At the time, Sprott Asset Management had $3-million in assets. Story
Stock-trading policy change looms over cannabis industry
A company owned by Canada's major stock-exchange operator is considering a move that would make it difficult for investors to trade the shares of cannabis companies with U.S. assets, potentially disrupting the flow of millions of dollars into the burgeoning marijuana industry. Story
Home Capital rebuilding mortgage pipeline, but challenges remain
Executives at Home Capital Group Inc. say they are entering a new phase in the company's recovery, promising to gradually turn on the taps and increase the flow of new loans it is underwriting. Story
Clementia Pharmaceuticals looks to raise $138-million in IPO
Montreal-based Clementia Pharmaceuticals Inc. is looking to raise as much as $138-million (U.S.) in its initial public offering, the latest in a resurgence of stock offerings from Canadian companies. Story
CPPIB targets celebrity and sports stars in latest deal
The country's largest pension fund is getting a little closer to celebrity status. The Canada Pension Plan Investment Board said Wednesday that it had struck a deal to invest in a U.S.-based event operator and talent agency that represents a wide range of artists and sports stars. CPPIB will take an 8 per cent equity stake in the privately-owned William Morris Endeavor Entertainment LLC (WME-IMG) worth $400-million (U.S.). Story
NextBlock Global raises $20-million in first fundraising round
With online currencies such as bitcoin and ether capturing the imagination of tech-savvy investors, a new Canadian company is looking to give investors exposure to the volatile and fast-moving world of blockchain technology. Story
Editor's note: Due to a statutory holiday in some parts of Canada, the Streetwise newsletter will resume Wed., Aug. 9.