Cervus to conduct brokered private placement of stock

By Sheri Kasprzak

New York, Nov. 8 - Cervus Financial Group Inc. said it intends to conduct a private placement of stock through a syndicate of agents led by Desjardins Securities Inc.

The offering, which has not yet been priced, will include 10 million shares.

Blackmont Capital Inc. will also be part of the syndicate.

Proceeds will be used for general corporate purposes and balance sheet enhancement.

Based in Toronto, Cervus provides mortgages through mortgage brokers.

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