TSX Buys Stake in CanDeal

On July 8, 2002, The Toronto Stock Exchange Inc. (TSX) completed a subscription of shares of CanDeal.ca Inc., which gave it a 40 per cent equity stake in the company. As part of this new relationship, TSX will also be providing certain technology services to CanDeal. The value of the deal is confidential.

CanDeal is a joint venture company created last year by BMO Nesbit Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc., and technology partners, Basis100 Inc. and Moneyline Telerate.

Representing TSX were in-house counsel Leonard Petrillo and Joseph Ernst, together with Donald Ross, John Leddy, Iain Scott and Dan Logan of Osler, Hoskin & Harcourt LLP.

Rene Sorell, David Armstrong and Ian Michael (corporate finance, M&A) and Barry Sookman and David Ma (technology) of McCarthy T├ętrault LLP acted for CanDeal in connection with its incorporation, initial capitalization and regulatory approvals and this subscription by TSX.