I'm Mittita Barber for Investmentpitch.com
Edgecrest Capital Corp, a Toronto-based boutique
securities firm launched in 2013, has acquired
StoneCap Securities.
Edgecrest will be adding 10 employees, including
two investment bankers, three salespeople
and four research analysts, and Conrad Beyleveldt,
StoneCap's chief financial officer and chief
operating officer.
Beyleveldt will replace Keith Harris, who
is retiring but will remain on the board.
The acquisition will also give Edgecrest access
to the U.S. securities markets, through StoneCap's
U.S. subsidiary.
David Beatty, Edgecrest CEO stated, "We see
a genuine opportunity now for a new, high
quality and low-cost independent platform
with strong investment banking skills and
a lean sales and trading platform."
Although Edgecrest's stated four-year goal
is to become one of the largest three Canadian
independent brokerages in small-cap mining,
international energy, and oil field services,
it also plans to identify and provide high-quality,
innovative special situation investments,
in a variety of industry sectors, to its institutional
clients.
This week, Edgecrest announced it was underwriting
a convertible debenture and warrant offering
for North American Palladium (TSX:PDL), in
a syndicate with Canaccord Genuity.
For more information about Edgecrest, please
visit www.edgecrest.com.
I'm Mittita Barber for Investmentpitch.com
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and it not a recommendation to buy or sell
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