Can you explain to me what your company Tormont Group is all about?
Tormont Group is a cross border Advisory to US and Canada, helping private companies raise capital. We introduce them to investment banks and other relevant parties so we can take them public in Canada.
We also help companies with mergers and acquisitions. We operate like an investment bank except we don’t raise capital.
When Was The Tormont Group launched?
We launched October 2013.
What is your role with the Tormont Group?
Founder of the Tormont Group
Did you see a need in the market place for an advisory service like the one you offer?
Yes. The reason was that smaller companies in the US by virtue of size difference between the two countries, the smaller companies in the US are larger companies in Canada. Canada is a very receptive country and community on the investment side for smaller companies – so bringing these companies into Canada makes a lot of sense it could be institutional and retail investor capital is here and the ability to list quickly on a globally recognized stock exchange. The US been a much larger country those companies would not be in a position to go public until they were much larger. For companies that have a great growth profile or interesting sectors doing disruptive things coming to Canada is a wonderful opportunity to raise capital and achieve liquidity and all the other good things with going public.
What services are offered during Tormont50 roadshow
Tormont50 is a sister company to the Tormont group. Tormont50 helps smaller companies reach investment advisor high net worth investor audiences by hosting investor roadshows. These are one-day events held throughout Toronto and Vancouver. The CEO of the company joins Tormont50 roadshow to meet potential new investors and build relationships.
How do you acquire your clients?
Through word of mouth and referrals.
What impact has Covid- 19 had on your industry?
On the Advisory side, it has become much busier as smaller companies seek to raise capital. We recognize that there is a lot more new innovation coming up right now as people have more time to reflect on innovation and creating new opportunities.
On the Tormont50 side – roadshows are no longer happening due to social distancing so this has been suspended for now.
For Tormont our Accounts Receivable have grown substantially – so cash flow has slowed down in the business.
What Advice Would You Give Someone Looking To Get Into The Advisory Service Business?
The first step is to create their own company and get their company to a successful position. Anything they can do in the Capital market and combined with starting their own company is key. Experience in Capital markets is important.
What are your next steps going forward?
I have been appointed the new CEO and President for a company Called DelphX Capital Markets.
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