TORONTO, Dec. 1, 2022
/CNW/ - Bank of Montreal (BMO)
(NYSE: BMO) (TSX: BMO) announced today it has completed the
acquisition of Radicle Group Inc., a Calgary-based leader in sustainability
advisory services and market-based solutions, and technology-driven
emissions measurement and management. Radicle's management team and
staff will join BMO Capital Markets' Global Markets group,
effective immediately.
BMO announced the acquisition on July 20,
2022. The transaction advances BMO's Climate Ambition to be
its clients' lead partner in the transition to a net-zero world. As
organizations and individuals work to manage risk and scale the
technologies needed to reach climate targets, Radicle's expertise
and innovative solutions further establishes BMO as a market leader
in helping companies navigate the transition.
About BMO Financial
Group
Serving customers for 200 years and counting, BMO is a highly
diversified financial services provider - the 8th largest bank, by
assets, in North America. With
total assets of $1.14 trillion as of
October 31, 2022, and a team of
diverse and highly engaged employees, BMO provides a broad range of
personal and commercial banking, wealth management and investment
banking products and services to more than 12 million customers and
conducts business through three operating groups: Personal and
Commercial Banking, BMO Wealth Management and BMO Capital
Markets.
Cautionary statement regarding forward-looking information
Certain statements in this press release are forward-looking
statements. All such statements are made pursuant to the "safe
harbor" provisions of, and are intended to be forward-looking
statements under, the United States Private Securities Litigation
Reform Act of 1995 and any applicable Canadian securities
legislation. Forward-looking statements in this document may
include, but are not limited to, statements with respect to plans
for the integration of Radicle Group Inc., the acceleration of
emissions reduction efforts, the provision of more sustainability
services and the exploration of new markets, our strategies or
future actions, our targets and commitments, the regulatory
environment in which we operate, the results of, or outlook for,
our operations, and include statements made by our management.
Forward-looking statements are typically identified by words such
as "will", "would", "should", "believe", "expect", "anticipate",
"project", "intend", "estimate", "plan", "goal", "commit",
"target", "may", "might", "schedule", "forecast" and "could" or
negative or grammatical variations thereof.
By their nature, forward-looking statements require us to make
assumptions and are subject to inherent risks and uncertainties,
both general and specific in nature. There is significant risk that
predictions, forecasts, conclusions or projections will not prove
to be accurate, that our assumptions may not be correct, and that
actual results may differ materially from such predictions,
forecasts, conclusions or projections. We caution readers of this
document not to place undue reliance on our forward-looking
statements, as a number of factors – many of which are beyond our
control and the effects of which can be difficult to predict –
could cause actual future results, conditions, actions or events to
differ materially from the targets, expectations, estimates or
intentions expressed in the forward-looking statements.
The future outcomes that relate to forward-looking statements
may be influenced by many factors, including, but not limited to:
the anticipated benefits from the proposed transaction are not
realized in the time frame anticipated or at all as a result of
changes in general economic and market conditions, laws and
regulations and their enforcement, and the degree of competition in
the business areas in which Radicle Group Inc. operates; the
business of Radicle Group Inc. may not perform as expected or in a
manner consistent with historical performance; the ability to
promptly and effectively integrate Radicle Group Inc.; diversion of
management time on transaction-related issues; the evolution of our
lending portfolios over time, the need for active and continued
participation of stakeholders (including enterprises, financial
institutions and governmental and non-governmental organizations),
the development and deployment of new technologies and
industry-specific solutions, international cooperation, the
development of regulations internationally, our ability to
successfully implement various initiatives under expected time
frames and the compliance of various third parties with our
policies and procedures and legal requirements; and those other
factors discussed in the Risks That May Affect Future Results
section, and the sections related to credit and counterparty,
market, insurance, liquidity and funding, operational
non-financial, legal and regulatory, strategic, environmental and
social, and reputation risk, in the Enterprise-Wide Risk Management
section of BMO's 2022 Annual Report, all of which outline certain
key factors and risks that may affect our future results and our
ability to anticipate and effectively manage risks arising from all
of the foregoing factors. We caution that the foregoing list is not
exhaustive of all possible factors. Other factors and risks could
adversely affect our results. Investors and others should carefully
consider these factors and risks, as well as other uncertainties
and potential events, and the inherent uncertainty of
forward-looking statements.
We do not undertake to update any forward-looking statements,
whether written or oral, that may be made from time to time by the
organization or on its behalf, except as required by law. The
forward-looking information contained in this document is presented
for the purpose of assisting shareholders and analysts in
understanding the proposed transaction and may not be appropriate
for other purposes.
View original
content:https://www.prnewswire.com/news-releases/bmo-completes-acquisition-of-radicle-group-inc-301691793.html
SOURCE BMO Financial Group