Cervus Financial drops investment dealers on private placement of stock

By Sheri Kasprzak

New York, Nov. 22 - Cervus Financial Group Inc. has dropped a syndicate of placement agents it had planned to use in a private placement of stock.

Desjardins Securities Inc. was the lead agent for the syndicate. Blackmont Capital Inc. was also part of the syndicate.

"The company is currently assessing non-broker lead financing and strategic opportunities," said a statement from the company.

The deal was first announced without pricing details on Nov. 8 and would have included 10 million shares.

Based in Toronto, Cervus provides mortgages through mortgage brokers.

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