CANACCORD ADAMS_
Connecting investors to growth worldwide

Canaccord’s operations are client-focused and, like our clients, global in scope and potential. Our growth strategy is designed to maximize opportunity and create value for our clients. In January 2006, Canaccord acquired Adams Harkness Financial Group, Inc., a Boston, Massachusetts based institutional investment bank. The combination of these US operations with our existing Canadian and European team formed our re-branded global capital markets division, Canaccord Adams.

The US geographic expansion enhances our capital markets capabilities, while maintaining our focus on the small to mid-cap market. Canaccord Adams now has greater depth in the seven business sectors that we research most intensively, and the global resources to manage larger transactions. We are active on seven exchanges, and able to source favourable costs of capital for our clients. Our global perspective ensures our responsive professionals generate the best idea for each client from the best markets worldwide.

Canaccord Adams’ focus and capabilities are already demonstrating success. In fiscal 2006, we raised $25.9 billion by completing 375 transactions that involved Canadian, US and European employees and clients. In November 2005, we led the largest transaction in our history, raising $504 million in total for UrAsia Energy (B.V.I.) Ltd. from all three regions. We listed five North American companies on London exchanges in the fourth quarter of fiscal 2006, including Sandvine Corporation, a Canadian based technology firm. Canaccord Adams led Sandvine’s initial public offering on AIM in March 2006.

In addition to growing our global reach, we identify strategic opportunities to serve our clients. In November 2005, we added oil and gas property acquisition and divestiture services to our Calgary based energy operations by acquiring Enermarket Solutions Ltd. Canaccord Enermarket Ltd. provides customized insight to clients active in this important resource market.

In May 2006, we announced Canaccord Adams’ first step in establishing a presence in the US domestic energy market. Our new Houston, Texas based team will focus on US domiciled, small to mid-cap energy companies with international exposure, expanding the scope and scale of our global energy practice.

Canaccord Adams is continuing a 25-year Adams Harkness tradition, the Summer Seminar. Held each August in Boston, this unique conference showcases our best ideas by bringing together institutional investors and leading growth companies, as well as venture capitalists and private firms. This popular event provides unparalleled access to investment opportunities from around the world.