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Bank of Montreal indications deal that is underwriting Canopy development, rendering it the first major bank that is canadian solution cannabis industry

Tuesday, September 3rd, 2019

Bank of Montreal indications deal that is underwriting Canopy development, rendering it the first major bank that is canadian solution cannabis industry

The financial institution of Montreal joined in to a major funding deal with certified Canadian cannabis company Canopy development, marking a policy shift that is significant for major banking institutions in the united states.

Canopy development, that is situated in Smith Falls, Ont. and is known as certainly one of Canada’s largest licensed cannabis producers, announced its $175-million purchased deal with GMP Securities LP and BMO Capital Markets. BMO is owned by Bank of Montreal.

With its statement, Canopy claimed that BMO and GMP led underwriting associated with the stock purchase involving just a little over five million shares associated with the public exchanged medical cannabis business. (more…)