Investment Banking Winter Analyst - January to April 2027
Investment Banking & Advisory
Vancouver, BCIntern / Co-opInternshipRolling deadline
Canadian Investment Bank
Independent, B Corp-certified Canadian advisory boutique run as an alliance of senior bankers in Vancouver, Calgary and Toronto.
Fort Capital is an independent Canadian investment banking advisory firm founded in Vancouver in 2014 by former bulge-bracket and Canadian bank bankers, with offices in Vancouver, Toronto (2019) and Calgary (2020). It describes itself as an alliance of independent-minded bankers who build a custom team for each mandate, and advises on M&A, divestitures, capital raising, credit and project finance, fairness opinions and valuations. The range of mandate sizes is unusually wide for an independent: in 2026 alone it has been financial advisor to Aurora Cannabis on a hostile bid and to Luca Mining on a US$385M mine acquisition, and provided a fairness opinion to Orla Mining's special committee on its US$18.5B combination with Equinox Gold, alongside sell-side mandates for private owners in the $10M-$50M range. That lower-mid-market work was once run under a separate brand, Relay Transition Partners, which the firm folded back into Fort rather than hold two standards. It is a certified B Corporation, and in 2025 it added a wealth- and asset-management M&A practice by acquiring Toronto's Acquatio. For students, Fort runs a Student & Analyst program (summer and co-op) recruited office by office.
1 open roles23 deals5 people41 sources
Sell-side, buy-side and merger advice for private and public companies, frequently founder-owned mid-market businesses and TSX/TSXV mining issuers.
Fairness opinions and formal valuations for boards, trustees and special committees of public companies and income funds.
Advises on equity raises, credit facilities and project finance; dedicated credit advisory and project finance partners.
Wealth and asset management M&A practice formed in August 2025 through the acquisition of Acquatio.
Sector team of partners covering industrial and clean technology companies.
| Vancouver | BC | headquarters |
| Calgary | AB | office |
| Toronto | ON | office |
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From the inside
Reasons that work in interviews
5 reasons for Fort Capital
The spread of mandates is the firm's real argument and its own website buries it: in 2026 alone Fort advised Aurora Cannabis against a hostile bid, advised Luca Mining on a US$385M mine purchase, gave Orla's special committee a fairness opinion on an US$18.5B merger, and ran sell-sides for private owners in the $10M-$50M range. Pick two from opposite ends of that and ask how the same bench covers both.
The lower-mid-market work used to run under a separate brand, Relay Transition Partners, and the firm folded it back in rather than tell an owner their business belonged with the B team. Worth knowing before you ask about deal sizes: there is one standard here, not two.
Around sixty professionals across Vancouver, Toronto and Calgary, so a junior is on the deal rather than on one workstream of it.
Credit advisory, valuations and fairness opinions sit beside M&A, so the technical range is wider than a sell-side-only shop this size.
A certified B Corporation, which is rare for a Canadian dealer and worth a sentence only if it is something you actually care about.
Coming soon
We’re collecting the real technical and behavioural questions candidates were asked at Fort Capital, by role and office, and how each round runs.
When they’re in, they’ll be part of BSO Pro, which already has candidate reports for dozens of firms.
Interviewing there sooner than that? Get in touch and we’ll help you prepare.
Each row is a start season; the bars are when you apply. The track starts this month, so how far right a bar sits is how far off it is.
Winter 2027
Apply now
Open roles on BSO Jobs1
Fort Capital works as one generalist team: bankers staff deals across these sectors rather than joining a group, so there is no group to pick when you apply. Alliance-style boutique with offices in Vancouver, Calgary and Toronto that staffs a custom team per mandate; it presents six service lines rather than industry groups, with a Toronto-based wealth and asset management M&A practice.
Financial Services
Mergers & AcquisitionsSMB AdvisoryCapital FormationValuations & Fairness OpinionsStrategic Financial Advisory
Partner, Investment Banking (Founder)
Investment Banking (Vancouver)
Founded Fort Capital in 2014 after 23 years as an investment banker, from analyst to managing director, in Vancouver, Toronto and New York, including senior BC investment banking roles at RBC Capital Markets and Scotia Capital. UBC BCom (1991) and Portfolio Management Foundation graduate.
Partner, Investment Banking
Investment Banking (Vancouver)
Founding partner in 2014 after 17 years in large-cap investment banking in Vancouver and New York, including CIBC Capital Markets and Merrill Lynch. Focuses on divestitures and M&A for founders, families and PE-backed private companies. CFA; UBC BCom.
Partner, Investment Banking
Investment Banking (Vancouver)
20+ year investment banker who has advised on more than $20B of transactions at Fort, working largely with mining executives. Previously Managing Director, Mining Investment Banking and Head of Venture Capital at Canaccord Genuity, and earlier at PwC. Fellow chartered accountant; UBC Sauder alumnus.
Partner, Investment Banking
Investment Banking (Calgary)
Calgary partner with 30+ years in investment banking; founded Thunderstone Capital before joining Fort. Involved in over $25B of M&A and $22B of financings. UBC BCom (1989), CFA (1993).
Partner, Investment Banking
Investment Banking (Vancouver)
15 years advising entrepreneurs, boards and PE investors on buy-side and sell-side M&A and capital raises across industrials, business services, consumer and climate. CPA, CA and CBV; former President of ACG British Columbia.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Nov 24, 2025
Dan BenoitHire
Partner (Toronto)
— → Fort Capital
Project finance specialist with 7+ years at Brookfield Renewable and his own energy-transition advisory firm joined as a Toronto partner.
Aug 11, 2025
Joe MillottTeam build
Partner
Acquatio → Fort Capital
Fort acquired Toronto wealth-management M&A boutique Acquatio to form Fort Capital Financial Services; founder Joe Millott joined as Partner and Ben Ewasko as Vice President.
Sep 21, 2026
Cozamin Mine
Financial advisor to Luca Mining (buy-side) · Copper / silver mining
Buyer Luca Mining Corp.
Luca agreed to acquire the Cozamin copper-silver mine in Zacatecas from Capstone Copper for US$290M upfront and up to US$95M deferred and contingent, US$385M in total. Fort Capital shows the mandate as financial advisor.
Sep 2, 2026
Aurora Cannabis Inc.
Financial advisor to Aurora Cannabis (defence) · Cannabis
Buyer Curaleaf Holdings, Inc.
Unsolicited take-over bid by Curaleaf for Aurora Cannabis. Aurora's board formed a special committee and recommended shareholders reject the bid; Fort Capital is named in Aurora's filings as the company's financial advisor.
May 13, 2026
Orla Mining Ltd.
Fairness opinion to the Special Committee of Orla Mining · Gold mining
Buyer Equinox Gold Corp.
All-share combination of Orla and Equinox creating a senior North American gold producer with an implied combined market capitalisation of about US$18.5B. Fort Capital provided a fairness opinion to Orla's special committee alongside Scotiabank.
Apr 15, 2026
Safari Flower Company
Financial advisor to Aurora Cannabis (buy-side) · Cannabis
Buyer Aurora Cannabis Inc.
Aurora acquired EU GMP-certified Ontario cultivator Safari Flower for aggregate consideration of ~C$26.5M in shares and cash.
Oct 7, 2025
SolidCAD
Financial advisor to Cansel and SolidCAD · Technology Services (Design Software)
Buyer Symetri (Addnode Group) · Seller Cansel
Symetri, part of Sweden's Addnode Group, agreed to acquire SolidCAD, Canada's largest Autodesk Platinum partner, from Cansel.
Jul 7, 2025
Horizon Copper Corp.
Financial advisor to Horizon Copper and fairness opinion to its board · Copper / royalties
Buyer Royal Gold Inc.
All-cash acquisition of Horizon Copper by Royal Gold at C$2.00 per share (~US$196M equity value; ~US$410M implied enterprise value).
Mar 17, 2025
NM Energy Holding Canada Corp. (New Mexico uranium projects)
Financial advisor and fairness opinion to the audit committee · Mining - Uranium
Buyer Verdera Energy Corp. · Seller enCore Energy Corp.
enCore agreed to sell the subsidiary holding its New Mexico uranium projects to related-party Verdera Energy; an audit committee of disinterested directors oversaw the sale.
Jan 27, 2025
Porcupine Complex (Timmins, Ontario)
Financial advisor to Discovery · Mining - Gold
Buyer Discovery Silver Corp. · Seller Newmont Corporation
Discovery agreed to buy Newmont's Porcupine gold complex for US$425 million in total consideration, financed with Franco-Nevada funding and a public offering.
Dec 12, 2024
O3 Mining Inc.
Financial advisor to the special committee; fairness opinion to the board and special committee · Mining (gold)
Buyer Agnico Eagle Mines Limited
Agnico Eagle agreed to make a friendly all-cash take-over bid for O3 Mining at C$1.67 per share, valuing O3 at about C$204 million on a fully diluted in-the-money basis.
Aug 12, 2024
Osisko Mining Inc.
Financial advisor to the special committee; fairness opinion · Mining (gold)
Buyer Gold Fields Limited
Gold Fields agreed to acquire Osisko Mining for C$4.90 per share in cash (about C$2.16 billion fully diluted), consolidating full ownership of the Windfall project.
Jun 11, 2024
Copperleaf Technologies Inc.
Independent financial advisor (fixed fee) to the special committee and board; fairness opinion · Software
Buyer IFS AB (Industrial and Financial Systems)
IFS agreed to acquire Copperleaf for $12.00 per share in cash by plan of arrangement, a total equity value of about $1.0 billion on a fully diluted basis.
Jun 13, 2023
Premium Nickel Resources Ltd. (equity and term loan financing)
Financial advisor to PNRL on the financing transactions · Mining
Premium Nickel Resources announced equity and term loan financing transactions, closed later in June 2023.
May 2, 2022
BaseCore Metals royalty and stream package
Financial advisor to Sandstorm · Mining (Royalties & Streams)
Buyer Sandstorm Gold Ltd. · Seller BaseCore Metals LP
Sandstorm agreed to buy nine royalties and one stream from BaseCore Metals as part of the US$1.1 billion portfolio expansion it announced alongside the Nomad acquisition.
Dec 11, 2020
Cozamin Mine silver stream
Financial advisor to Wheaton International · Mining (Streaming)
Buyer Wheaton Precious Metals International Ltd. · Seller Capstone Mining Corp.
Wheaton Precious Metals agreed to pay Capstone US$150 million upfront for a silver stream on Capstone's Cozamin mine in Mexico.
Feb 27, 2020
Midas Gold Corp.
Independent financial advisor and fairness opinions to the special committee · Mining (Gold)
Buyer Paulson & Co. Inc. (lead investor)
Midas Gold entered funding agreements for US$35 million, led by convertible notes for Paulson & Co. plus a brokered offering of up to C$13.3 million.
Jan 14, 2019
Goldcorp Inc.
Financial advisor to the special committee; fairness opinion · Mining (Gold)
Buyer Newmont Mining Corporation
Newmont agreed to acquire Goldcorp in a stock-for-stock transaction valued at about US$10 billion (equity), creating Newmont Goldcorp.
Mar 29, 2017
Alexco Resource Corp. (Keno Hill silver purchase agreement)
Financial advisor to Alexco on the restructuring of the silver purchase agreement · Mining (Silver)
Buyer Silver Wheaton Corp.
Alexco and Silver Wheaton amended their Keno Hill silver purchase agreement, with Alexco issuing three million shares to Silver Wheaton as consideration.
Jun 7, 2016
Goldrock Mines Corp.
Financial advisor and fairness opinion to the Goldrock board · Mining
Buyer Fortuna Silver Mines Inc.
Fortuna agreed to acquire Goldrock Mines, owner of the Lindero gold project in Argentina, in a share exchange with a total equity value of about C$129 million.
Undated
Orla Mining Ltd.
Fairness opinion to the Special Committee of Orla Mining · Gold mining
Buyer Equinox Gold Corp.
At-market combination of Equinox Gold and Orla Mining creating a North American senior gold producer with an implied ~US$18.5B market capitalization; Fort posted the mandate in May 2026.
Undated
The Keg Royalties Income Fund
Formal valuation and fairness opinion to the Fund's trustees · Restaurants / royalties
Buyer Fairfax Financial Holdings
Fairfax agreed to buy the units of The Keg Royalties Income Fund it did not already own at C$18.60 per unit, implying ~C$324M enterprise value. Announced in May 2025 (the release cites May 2, 2025 as the last trading day before the announcement).
Undated
ROC Modular Inc.
Financial advisor · Modular construction
Buyer MODUS Structures Inc.
Combination of two Alberta modular builders under the MODUS brand (460+ employees); Fort posted the mandate in September 2026.
Undated
Ionik
Credit advisory to Ionik · Technology / marketing services
Senior syndicated credit facilities of US$90M alongside US$10M of subordinated debt, arranged by Fort Capital's credit advisory team.
Undated
Goldgroup Mining Inc.
Fairness opinion · Gold mining
Buyer Gold Resource Corporation
Merger of Goldgroup Mining and Gold Resource Corporation. Fort Capital shows the mandate as a fairness opinion.
Fort posts its fairness opinion mandate for Orla Mining's special committee.
Former Brookfield Renewable financier joins Toronto as a partner focused on project finance.
Fort buys a Toronto wealth-management M&A specialist to build an independent advisory practice for consolidating wealth and asset managers.
Founded in 2014 by Dave Bustos and Mike Burtch, among others (year only; month not published).
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Fort Capital · Sep 23, 2026 · fortcapital.ca
Capstone Copper Corp. · Sep 21, 2026 · bnnbloomberg.ca
Aurora Cannabis Inc. · Sep 2, 2026 · sec.gov
Fort Capital · May 14, 2026 · fortcapital.ca
Fort Capital · Apr 29, 2026 · fortcapital.ca
Fort Capital · Nov 24, 2025 · fortcapital.ca
SolidCAD via CNW · Oct 7, 2025 · newswire.ca
Fort Capital · Aug 11, 2025 · fortcapital.ca
Fort Capital · Jul 14, 2025 · fortcapital.ca
Fort Capital · Jul 11, 2025 · fortcapital.ca
enCore Energy Corp. (Form 8-K, SEC EDGAR) · Mar 17, 2025 · sec.gov
Discovery Silver Corp. via GlobeNewswire · Jan 27, 2025 · globenewswire.com
Agnico Eagle Mines Limited and O3 Mining Inc. via CNW · Dec 12, 2024 · newswire.ca
Osisko Mining Inc. via GlobeNewswire · Aug 12, 2024 · globenewswire.com
Gold Fields Limited via CNW · Aug 12, 2024 · newswire.ca
Copperleaf Technologies Inc. via CNW · Jun 11, 2024 · newswire.ca
Premium Nickel Resources Ltd. (SEC EDGAR exhibit) · Jun 29, 2023 · sec.gov
Premium Nickel Resources Ltd. (SEC EDGAR exhibit) · Jun 13, 2023 · sec.gov
Sandstorm Gold Ltd. (SEC 6-K) · May 2, 2022 · sec.gov
Wheaton Precious Metals Corp. via CNW · Dec 11, 2020 · newswire.ca
Midas Gold Corp. via GlobeNewswire · Feb 27, 2020 · globenewswire.com
Goldcorp Inc. (Form 6-K, Exhibit 99.1) · Jan 17, 2019 · sec.gov
Newmont Mining Corporation and Goldcorp Inc. (Goldcorp Form 6-K, Exhibit 99.1, via CNW) · Jan 14, 2019 · sec.gov
Alexco Resource Corp. (SEC 6-K exhibit, CNW release) · Mar 29, 2017 · sec.gov
Fortuna Silver Mines via SEC EDGAR (6-K Ex. 99.1) · Jun 7, 2016 · sec.gov
Fortuna Silver Mines via SEC EDGAR (6-K Ex. 99.2) · Jun 7, 2016 · sec.gov
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fort Capital · Date unavailable · fortcapital.ca
Fasken · May 13, 2026 · fasken.com
Bay Street Oracle · Oct 8, 2026 · intelligence.baystreetoracle.ca
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Summer and co-op positions for students at Canadian universities with Canadian work authorization; applications need a resume, cover letter and transcript. As of 2026-10-01 the only open posting is a Summer 2027 Analyst role in Toronto.
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