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Canaccord Genuity Corp.’s Jamie Nagy says he now spends “120 per cent” of his time on cannabis deals — that’s in sharp contrast to just three years ago, when the co-head of mergers and acquisitions had almost no cannabis files on his table.

“I would still say we got into the sector as a firm reasonably early and we’ve developed a very deep domain of knowledge on how the cannabis industry operates, which has snowballed the number of deals that come to us,” according to Nagy.

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That’s not an overstatement — in 2018 alone, the Toronto-based investment bank either led or co-led 47 deals in the cannabis sector, valued at $2.49 billion, according to the numbers crunched by Financial Post Data.

Second in place was independent investment shop GMP Securities which was involved in 14 deals valued at $895 million over the course of 2018 — boutique investment dealer Eight Capital Corp. was third, with 16 deals under its belt, worth $636 million in total.