TORONTO, Feb 4 (Reuters) – If the shoe fits, wear it.

That’s how Bay Street, the heart of the Canadian financial district, is reacting to a report that Canaccord Financial Inc <CF.TO>, one of the country’s top independent brokerages, is in talks to buy closely held Genuity Capital Markets, a fledgling but well-connected M&A shop.

Market observers say Genuity and Canaccord may actually form a perfect pair.

Canaccord is one of Canada’s largest independent brokerages and since its founding in 1950 has built a strong presence in Canada’s mining space, particular among juniors and midcaps.

TORONTO, Feb 3 (Reuters) – Colombia could add as much as 6 billion barrels of oil to its reserves over the next decade if exploration holds at the current pace and state-controlled Ecopetrol <ECO.CN> boosts recovery rates, a top energy official said on Wednesday.

Colombia’s National Hydrocarbons Agency will auction nearly 200 oil and gas exploration blocks in June as part of a program that began in 2004.

The sales are likely to boost proven oil and gas reserves from a current 1.5 billion barrels of oil equivalent as investment picks up into one of Latin America’s fastest growing energy sectors.

“The optimistic scenario would be that we’d go to in excess of 6 billion barrels of oil between now and 2020 and that would bring us to a very comfortable position,” agency director Armando Zamora said in Toronto during the first leg of a road trip to present the auction to Canadian investors.

TORONTO, Jan 22 (Reuters) – Companies will raise much less money in Canadian capital markets this year as fewer seek to buffer balance sheets, and shares rather than cash are used to finance acquisitions, according to one of Canada’s leading investment bankers.

But the Canadian IPO market is likely to come back in 2010 from its near drought in 2009, said Philip Smith, the deputy head of global investment banking at Scotia Capital. Other forms of financing such as secondary and preferred offerings, may taper off, he said.

Last year was a time of wholesale capitalization, typified by very large financings by companies that had not issued equity in many years. The list included Manulife Financial Corp <MFC.TO>, Canadian Pacific Railway <CP.TO> and Barrick Gold Corp <ABX.TO>.

Smith, whose Bank of Nova Scotia <BNS.TO> ranked third last year in Canadian equity and equity-related issuance, sees far fewer financings of that kind in 2010.

TORONTO, Jan 18 (Reuters) – Infrastructure renewal, government stimulus spending and the end of the traditional income trusts will drive Canadian private equity deals higher in 2010, according to a top industry player.

Gregory Smith, the president of the Canadian Venture Capital and Private Equity Association (CVCA), told Reuters that buyout firms could participate in as many as 30 percent more deals this year than last, helped in part by narrowing spreads between the buy and sell on potential deals.

“I think you’ll see investment activity improve, enhanced investment activity,” Smith said weeks ahead of the official release of CVCA figures for 2009 and for its 2010 outlook.

“The difference between January 2010 and January 2009 is that in January 2010 people actually have a view. People this year are prepared to make commitments based on their outlook.”

TORONTO/CALGARY (Reuters) – Billions of dollars of natural gas assets in Western Canada could change hands this year as energy income trusts convert into corporations and raise capital for acquisitions, bankers and portfolio managers say.

Canada’s trusts lose their favored tax status in just 12 months, so they are shifting away from strategies aimed at paying their investors large sums of cash. Instead they now are looking promote production and share-price growth.

The year’s first major energy-sector financing highlights the shift. ARC Energy Trust <AET_u.TO> raised a greater-than-expected C$252 million ($242 million) in an equity offering this week to pay for natural gas assets.

“Management of these companies need to change their focus from one of ‘let me get cash flow and distribute it to my unit holders,’ to ‘I’m going to get cash flow and use it to grow shareholder value,’” said Tim Logan, a portfolio manager for Cockfield Porretti Cunningham in Toronto.

TORONTO/CALGARY, Jan 8 (Reuters) – Billions of dollars of natural gas assets in Western Canada could change hands this year as energy income trusts convert into corporations and raise capital for acquisitions, bankers and portfolio managers say.

Canada’s trusts lose their favored tax status in just 12 months, so they are shifting away from strategies aimed at paying their investors large sums of cash. Instead they now are looking promote production and share-price growth.

The year’s first major energy-sector financing highlights the shift. ARC Energy Trust <AET_u.TO> raised a greater-than-expected C$252 million ($242 million) in an equity offering this week to pay for natural gas assets.

“Management of these companies need to change their focus from one of ‘let me get cash flow and distribute it to my unit holders,’ to ‘I’m going to get cash flow and use it to grow shareholder value,’” said Tim Logan, a portfolio manager for Cockfield Porretti Cunningham in Toronto.

TORONTO (Reuters) – BMO Capital Markets is looking to ramp up staffing in China and India, betting its mining and energy expertise and backing of a financially strong parent will give it an edge over investment banking rivals in Asia.

The unit of Bank of Montreal, Canada’s No. 4 lender, sees China’s resource-hungry state-owned enterprises (SOEs) as a key market for its services as a global economic recovery boosts commodity prices, and interest in deals.

“We are actively looking to broaden our footprint in each country, and that will mean dedicating more resources to meet growing client demand,” Michael Rayfield, vice-chair at BMO Capital Markets, told Reuters in a round-table interview.

The bank has four offices in China, in Beijing, Guangzhou, Shanghai and Hong Kong. It has one office in India, in Mumbai.

TORONTO (Reuters) – Canadian gold producer Goldcorp Inc raised its bid for junior miner Canplats Resources Corp for the second time in a week on Tuesday, matching an increased offer from Minera Penmont and winning support from its takeover target.

Goldcorp, which has been growing aggressively, said it raised its bid to C$4.80 a share, comprised of C$4.60 a share cash plus shares of a newly formed company that will hold Canplats’ Mexican exploration assets.

Assuming 58,634,040 common shares — the number from a Canplats filing earlier this year — that would value the Goldcorp offer at some C$281.44 million ($270 million).

“The Penmont proposal is of no further effect because Goldcorp has exercised its right to match,” Goldcorp said in a statement.

TORONTO, Dec 29 (Reuters) – Canadian gold producer Goldcorp Inc <G.TO> raised its bid for junior miner Canplats Resources Corp <CPQ.V> for the second time in a week on Tuesday, matching an increased offer from Minera Penmont and winning support from its takeover target.

Goldcorp, which has been growing aggressively, said it raised its bid to C$4.80 a share, comprised of C$4.60 a share cash plus shares of a newly formed company that will hold Canplats’ Mexican exploration assets.

Assuming 58,634,040 common shares — the number from a Canplats filing earlier this year — that would value the Goldcorp offer at some C$281.44 million ($270 million).

“The Penmont proposal is of no further effect because Goldcorp has exercised its right to match,” Goldcorp said in a statement.

TORONTO, Dec 29 (Reuters) – Canadian gold producer Goldcorp Inc <G.TO> raised its bid for junior miner Canplats Resources Corp <CPQ.V> for the second time in a week on Tuesday, matching a rival offer from Minera Penmont.

Goldcorp, which has been growing aggressively, said it raised the value of its bid to C$4.80 a share, comprised of C$4.60 a share cash plus shares of a newly formed company that will hold Canplats’ Mexican exploration assets.

In a filing earlier this year, Canplats said it had 58,634,040 fully paid and non-assessable common shares, which would value the Goldcorp offer at some C$281.44 million ($270 million).

“The Penmont proposal is of no further effect because Goldcorp has exercised its right to match,” Goldcorp said in a statement.