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Streetwise newsletter: B.C. pot producer Tilray weighs IPO; Richardson GMP countersues former broker Adam Woodward

Here are the top reads on deals and financial services over the last 24 hours,

Pot sector: Tilray Inc. is looking to become the next big publicly traded medical cannabis producer. According to people familiar with the matter, the British Columbia-based company is working with BMO Nesbitt Burns Inc. and New York City-based investment bank Cowen and Co. on an initial public offering. Story (Christina Pellegrini and Andrew Willis, for subscribers)

Lawsuit: Richardson GMP has fired back at a former star broker suing the investment dealer for wrongful dismissal and demanding repayment of $2.1-million in loans while denying allegations it ignored his pleas to help him deal with substance abuse. Story (Jeffrey Jones, for subscribers)

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Financing: A fast-growing Montreal startup hoping to bring the “sharing economy” to the office market has raised $60-million in a financing led by the Caisse de dépôt et placement du Québec, Singapore sovereign wealth fund Temasek and several U.S. venture capital firms. Story (Sean Silcoff, for subscribers)

Investing: Ten months after going public, Canaccord Genuity’s private-equity arm is close to taking over a business, allowing the investment bank to try its hand at an acquisition strategy that has felled some reputable Canadian names. Story (Tim Kiladze, for subscribers)

Regulation: Canadian securities regulators are providing additional clarity on what factors to consider when determining whether a particular cryptocurrency token offering contravenes securities laws. Story (Alexandra Posadzki, for subscribers)

Mining: Robert Friedland’s Ivanhoe Mines Ltd. is selling a minority stake to a Chinese state-owned firm, securing an important financing source, as uncertainty lingers over how a new African mining code could affect the Canadian base metals miner. Story (Niall McGee, for subscribers)

Fintech ventures: A new Canadian venture-capital fund focused on financial technology, and seeded by several top finance institutions operating in Quebec, has opened for business with $75-million in backing and two tech-sector veterans as partners. Story (Sean Silcoff, for subscribers)

Private equity fund targets asset managers: The torrent of asset-management industry tie-ups over the past few years put a spotlight on the largest players’ claims that size and scale hold the keys to success. But one Montreal family office is taking the opposite approach, betting that a new private-equity fund set to invest in North America’s smaller, niche money managers will lead to higher returns – even if a market meltdown is around the corner. Story (Jacqueline Nelson, for subscribers)

MORE FINANCIAL SERVICES NEWS

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International banking: HSBC will invest US$15-billion to US$17-billion in the next three years in areas including technology and China as it swings from a strategy of cost-cutting to growth, new chief executive John Flint said on Monday, while keeping profitability and dividend targets little changed. Story

MORE DEALS NEWS

Drug sector: A group of Takeda Pharmaceutical Co. Ltd. shareholders is trying to build support to block the US$62-billion acquisition of London-listed Shire Plc at an extraordinary general meeting, a leading member of the group told Reuters on Monday. Story.

INVESTORS

Analysis: Bank of Nova Scotia’s acquisition binge is weighing on its share price amid concerns about the bank’s ability to digest new assets valued at a whopping $7-billion. But while some analysts are growing nervous about the stock and slashing their outlook, contrarians should see the recent turbulence as a gift. Story (David Berman, for subscribers)

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