Eight Capital, a Canadian investment dealer specializing in cannabis and junior resources, is shutting down after its partnership committee voted to dissolve the firm. Roughly a dozen employees are expected to join Stifel Canada. The firm's closure reflects broader challenges facing independent investment dealers in Canada, particularly in the junior resource and cannabis sectors.
Eight Capital, a Bay Street investment dealer that specialized in speculative industries such as cannabis and junior resources, is winding down, according to four sources familiar with the situation.
The Globe is not naming its sources because they were not authorized to speak publicly. Eight and Stifel did not return requests for comment. In recent years Eight has leaned more heavily on its junior resources and technology practices and has won some notable mandates, including serving as a joint bookrunner for Foran Mining Corp.’s $260-million share offering in 2024. But deal flow in these sectors has fallen dramatically and independent investment dealers of all stripes have struggled.
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