Vancouver, British Columbia--(Newsfile Corp. - January 28, 2014) - Edgecrest Capital Corp, a Toronto-based, boutique securities firm launched in 2013, has acquired Stonecap Securities.
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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.
Charles Pennock, heady of equity capital markets at Stonecap, will be managing partner of investment banking at Edgecrest. Jeffrey White, previously the CEO of Stonecap, will be managing partner of institutional sales.
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, in a syndicate with Canaccord Genuity.
For more information about Edgecrest, please visit www.edgecrest.com.
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