Canaccord Financial and China’s Eximbank To Create US$1-billion Natural Resource Fund
Toronto-headquartered financial services firm Canaccord Financial Inc. and the Import Export Bank of China (Eximbank) announced their intent to establish a US$1 billion fund focused specifically on investing in the Canadian resource sector. A memorandum of understanding to create the “Canada-China Natural Resource Fund” (CCRF) was signed by Paul Reynolds, President and CEO of Canaccord Financial Inc., and Zhu Xinqiang, Vice President of Eximbank. The objectives of the CCRF are to invest in both public and private natural resource and energy companies or projects in Canada, and in companies that are listed, or have the potential to list on, Canadian stock exchanges; promote interaction and sustainable development among Chinese, Canadian and other natural resources companies; and create opportunities for substantial returns on investment through the strategic and market-oriented allocation of Fund capital.
Information summarized from: Canaccord Financial Inc. Press Release