“CIBC Private Wealth Management” consists of services provided by CIBC and certain of its subsidiaries, through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC World Markets Inc. and ISI are both Members of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. CIBC Private Wealth Management services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth Management” are registered trademarks of CIBC. This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change. CIBC and CIBC World Markets Inc., their affiliates, directors, officers and employees may buy, sell, or hold a position in securities of a company mentioned herein, its affiliates or subsidiaries, and may also perform financial advisory services, investment banking or other services for, or have lending or other credit relationships with the same. CIBC World Markets Inc. and its representatives will receive sales commissions and/or a spread between bid and ask prices if you purchase, sell or hold the securities referred to above. © CIBC World Markets Inc. 2021.Yields/rates are as of 02-28-2021 and are subject to availability and change without notification. Minimum investment amounts may apply. CIBC Wood Gundy is a division of CIBC World Markets Inc., a subsidiary of CIBC and a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. Graham Isenegger & Neil Chappell are Investment Advisors with the Blue Heron Advisory Group of CIBC Wood Gundy in Victoria, BC
Aritzia Inc. 12,1b,2g,3a,3c
Bank of Montreal 2a,2c,2e,2g,3a,3c,7
Boralex Inc. Class A 2a,2c,2e,2g
CAE Inc. 2a,2c,2e,2g,9
Canadian Natural Resources Ltd. 2a,2c,2e,2g,7
Canadian Pacific Railway Ltd. 2a,2c,2e,2g,3a,3c,7,9
Canadian Tire Corporation, Ltd. 13,2g,7
Canadian Western Bank 2a,2c,2e,2g
Canfor Corporation 2g,3a
CI Financial Corp. 2a,2c,2e,2g
Colliers International Group Inc. 12,2a,2c,2e,2g
Corus Entertainment Inc. 13,2g
ECN Capital Corp. 2a,2c,2e,2g,3a,3c
Enerflex Ltd. 2g
Finning International Inc. 2g,3a,3c
First Quantum Minerals Ltd. 2a,2e,2g,7
Franco-Nevada Corporation 2a,2e,2g,7
Hudbay Minerals Inc. 2a,2e,2g,8,CD61
Hydro One Limited 2a,2c,2e,2g
Imperial Oil Limited 2g
Innergex Renewable Energy Inc. 2g
Lightspeed POS, Inc. 2a,2c,2e,2g
Lundin Mining Corporation 2a,2e,2g
Magna International Inc. 2a,2c,2g,7
Manulife Financial Corp. 2a,2c,2e,2g,7
MTY Food Group Inc. 2a,2e,2g
National Bank Of Canada 2a,2c,2e,2g,3a,3c,7
Northland Power Inc. 2a,2c,2e,2g,3a,7
Nutrien Ltd. 2a,2c,2g,7
Ovintiv Inc. 2g
Power Corporation of Canada 12,2g,7
Sun Life Financial Inc. 2a,2c,2e,2g,7
Superior Plus Corp. 2a,2e,2g,9
Teck Resources Limited 12,2a,2e,2g,7
Toronto-Dominion Bank 2a,2c,2e,2g,3a,3c,7
Seven Generations Energy Ltd. 2f,2g
Sleep Country Canada Holdings Inc. 2g
Tourmaline Oil Corp. 2a,2e,2g
1b CIBC WM Inc. makes a market in the securities of this company.
2a This company is a client for which a CIBC World Markets company has performed investment banking services in the past 12 months.
2c CIBC World Markets Inc. has managed or co-managed a public offering of securities for this company in the past 12 months.
2e CIBC World Markets Inc. has received compensation for investment banking services from this company in the past 12 months.
2f CIBC World Markets Corp. expects to receive or intends to seek compensation for investment banking services from this company in the next 3 months.
2g CIBC World Markets Inc. expects to receive or intends to seek compensation for investment banking services from this company in the next 3 months.
3a This company is a client for which a CIBC World Markets company has performed non-investment banking, securities-related services in the past 12 months.
3c CIBC World Markets Inc. has received compensation for non-investment banking, securities-related services from this company in the past 12 months.
7 CIBC World Markets Corp., CIBC World Markets Inc., and their affiliates, in the aggregate, beneficially own 1% or more of a class of equity securities issued by this company.
8 An executive of CIBC World Markets Inc. or any analyst involved in the preparation of this research report has provided services to this company for remuneration in the past 12 months.
9 An executive committee member or director of Canadian Imperial Bank of Commerce (CIBC), the parent company to CIBC World Markets Inc. and CIBC World Markets Corp., or a member of his/her household is an officer, director or advisory board member of this company or one of its subsidiaries.
12 The equity securities of this company are subordinate voting shares.
13 The equity securities of this company are non-voting shares.
CD61 The Associate who covers Hudbay Minerals Inc. previously owned shares in the company, but was required by CIBC World Markets policy to sell the entire position before the issuance of this report.