Toronto-PhosCan Chemical Corp. said Aug. 25 that it has mutually agreed with Cormark Securities Inc. that Cormark shall no longer be the company’s exclusive financial advisor with respect to its review of strategic alternatives and investment opportunities. PhosCan says it will instead engage financial advisors on an ad hoc basis, depending upon the nature of a transaction under consideration. PhosCan’s primary assets include C$68 million of cash, cash equivalents, and short-term investments, and a 100 percent interest in the Martison phosphate project in Hearst, Ont.
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