CI Financial Corp (TSX:CIX) reached an agreement to acquire a 75% stake in WealthBar Financial Services Inc. on December 14, 2018. The consideration will be paid in cash. In addition to Tea Nicola, management of WealthBar is led by Chris Nicola, Co-Founder and Chief Technology Officer, and Neville Joanes, Chief Investment Officer and Chief Compliance Officer, all of whom will retain an ownership interest in the firm. WealthBar will continue to operate as a stand-alone business under the leadership of its management team. The transaction is expected to close in January 2019. BMO Capital Markets acted as financial advisor and Mark Longo, Patrick Sullivan, Tara Folk, Adam LaRoche, Lori Stein, Sam Ip and Dov Begun of Osler, Hoskin & Harcourt LLP acted as legal advisors to WealthBar. Rory ffrench, Michael Elder and Yasmina Mavani, Stacy McLean, Jordan Knowles, Julie Soloway, Fraser Malcolm, Paul Belanger and Jeffrey Shafer of Blake, Cassels & Graydon LLP acted as legal counsel to CI Financial. CI Financial Corp (TSX:CIX) completed the acquisition of a 75% stake in WealthBar Financial Services Inc. for CAD 23.7 million on January 23, 2019.