Independent research · Canadian equities · Written for U.S. investors

Canada trades at a discount.We investigate where.

Transparency is part of the research

Disclosures.

The business relationships behind a publication matter. Material interests belong where readers can see them — on the article, not in a footer.

Information and education

Great North Value is provided for informational and educational purposes. It is not personalized investment, legal, tax or financial advice, and it is not an offer or solicitation to purchase or sell any security. We are not a broker-dealer or an investment adviser, and we do not execute transactions.

Sources and limitations

Information is compiled from public regulatory filings, company disclosures, government publications and other identified sources believed to be reliable. Accuracy and completeness are not guaranteed, and a source can change after publication. Readers should review the original documents and conduct their own research.

Investment risk

Securities can lose value, including all invested principal. Smaller issuers, exploration-stage businesses and development projects can involve significant volatility, financing requirements, dilution, limited liquidity, permitting uncertainty, commodity exposure and operational risk. U.S. readers should also consider currency movements, withholding tax and differences in market access and disclosure rules.

Publisher and author interests

Each security-specific article identifies relevant interests held by the publisher, the author and related parties — shares, options, warrants, convertibles or other economic interests — on the date of publication. Where that review has not been completed, the article says so. Absence of a disclosed holding must never be inferred from an incomplete review.

Compensation and sponsorship

Coverage states the payer, the nature and the amount of any material compensation or consideration associated with it. Paid or sponsored material is identified prominently and is never presented as independent editorial research. A general statement that compensation “may” be received is not our standard. U.S. securities law can require specific disclosure of who paid, how much and in what form when a publication is compensated to discuss a security.

Forward-looking statements and scenarios

Guidance, forecasts and scenarios are not guarantees. Actual results can differ materially. Models depend on assumptions and can omit factors that matter in practice.

Direct mail

Printed research briefs carry the same disclosures as the online article they lead to, and use campaign codes only to measure response by mailing — never to identify a household.

Publisher identity

Great Northern Value Research
Toronto, Ontario, Canada
Contact the desk