|By Marketwired .||
|July 29, 2014 12:26 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/29/14 -- Salman Partners Inc. ("Salman") and Woodstone Capital Inc. ("Woodstone Capital") are pleased to announce that they have reached an agreement to amalgamate in order to create a diversified, independent Canadian Investment Dealer.
The business combination will join the forces of two veteran IIROC Dealer Members to expand the range of investment services they provide to their growing, sophisticated client bases.
"We are delighted to add Woodstone Capital's retail and wealth management strength to our integrated investment platform," said Terry Salman, CEO, "This is an important step in our continued strategic response to the changing structure of our industry; we believe there's an opportunity for an independent full service dealer to offer alternatives to the larger dealers."
Woodstone's President, Mahmood Ahamed, added, "Our advisors have always been able to compete at a very high level, providing excellent advice and service. We believe the combined firm will expand our retail investment dealer business by offering a wider breadth of service and by attracting new advisors to the firm."
Completion of the transaction is anticipated in the Fall of 2014, subject to regulatory approvals and standard closing conditions.
Salman was established in 1994 and has a strong reputation as an independent corporate finance, investment banking and institutional trading firm. Since 2002, Salman Partners has participated in over 370 transactions that, together with other syndicate members, raised over $20 billion. Salman Partners is known for its independent research whose top picks have historically outperformed the benchmark TMX over a five year time horizon. Salman has offices in Vancouver, Calgary and Toronto and is an IIROC Dealer Member, a member of the Canadian Investor Protection Fund (CIPF), and a participating organization of the Toronto Stock Exchange, TSX-Venture exchange, and the Canadian Securities Exchange.
Woodstone Capital Inc., founded in 1997, is well-established as a boutique retail broker providing outstanding service to its sophisticated client base, which is comprised of institutions and high net-worth clients. Since 2001 Woodstone has been instrumental in raising hundreds of millions of dollars for junior issuers that have gone on to become mid-cap and large-cap companies. Woodstone is an IIROC Dealer Member, a member of the Canadian Investor Protection Fund (CIPF), and a participating organization of the Toronto Stock Exchange and the TSX-Venture exchange.
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