Stoic Advisory Inc. is an independent Toronto-based consulting firm focused on providing corporate finance advisory services to companies within the global Cannabis industry.
Stoic was founded by Aaron Salz in 2016 with the goal of guiding companies successfully through the Cannabis capital markets landscape.
We pride ourselves on working alongside our clients, and earning confidence through steadfast dedication to their strategic and transaction needs.
Aaron is the founder and CEO of Stoic Advisory Inc. Prior to founding Stoic, Aaron was an Investment Analyst at Interward Asset Management, a specialist investment firm based in Toronto. While there he played an active role in capital allocation, including investments in the Cannabis sector.
Prior to Interward, Aaron spent over four years at Dundee Capital Markets (now Eight Capital), starting as a Research Associate before moving on as an Analyst covering Medical & Recreational Cannabis companies. Aaron pioneered research coverage of the Medical Cannabis sector, becoming the first Analyst in Canada to cover all public Licensed Producers as well a US-based operator. He has been frequently quoted in the press, including the Financial Post, Bloomberg, Reuters, and Financial Times, and is a regular speaker at industry events.
Aaron holds a CFA designation and obtained his Honors Business Administration (HBA) degree from the Ivey School of Business at the University of Western Ontario, with a focus on finance.
Mason is the Senior Analyst at Stoic Advisory Inc. Prior to joining Stoic, Mason was an Equity Research Analyst covering Medical & Recreational Cannabis companies at a boutique investment bank in Toronto. While there, he became established for his leading industry commentary and company research.
Before his Research Analyst role, Mason was an Investment Banking Analyst at the same boutique investment bank, having worked primarily on transactions in the Cannabis, life sciences, and metals and mining sectors. His transaction experience includes advisory and capital raising for a number of public and private Cannabis companies.
Mason has passed all three levels of the CFA Program and obtained his Bachelor of Commerce with a concentration in finance from the Sprott School of Business at Carleton University.
Marc Sontrop is the President and Chief Compliance Officer of Interward Asset Management, which serves a number of institutional and high net worth clients. Marc has over 17 years of diverse capital markets experience dealing with private and public investments across multiple sectors. He joined Interward in January 2006 initially to cover mining and special situations but over the years has shifted focus into other sectors including technology, financials, consumer, and health care in North America. Prior to Interward, Marc’s experience includes sell side equity research at BMO Capital Markets, which was top-ranked in Canada by Brendan Woods. Prior to that, he spent four years in banking at Scotia Capital, which consistently ranked at the top of league tables for corporate underwriting in Canada.
Marc is a CFA Charterholder and a graduate of the MBA program at McMaster University. He also completed his Bachelor of Commerce degree at McMaster while playing for their top-ranked varsity basketball team.
Michael Lickver is a corporate and commercial lawyer who specializes in domestic and international commercial transactions. He is also one of Canada’s leading advisors in the medical cannabis industry created by Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) representing a variety of industry participants, including licensed producers, licensed producer applicants, licensed dealers, research and development labs, e-commerce platforms, seed-to-sale software developers, design and build firms, patient aggregators, equipment manufacturers and distributors and agritech companies. Michael is also counsel to the Cannabis Canada Association (formerly CMCIA), Canadians for Fair Access to Medical Marijuana (CFAMM) and an adjunct professor at Western Law where he teaches “Medical Marijuana: Law and Practice”, a course he designed and developed and the first of its kind in Canada.
Michael earned Law (J.D.) and MBA degrees from the University of Western Ontario and the Richard Ivey School of Business.
Lorne is a serial entrepreneur with experience in start-ups, going public transactions, fashion, retail, architecture, real estate, finance and cannabis.
Lorne is a co-founder and former chairman of PharmaCan Capital Corporation (MMJ.V) and he is a cofounder of Tokyo Smoke. He is the current Chairman of HG2 Capital Corp., an investment, merchant bank in the cannabis sector. Lorne is also currently on the board of Hempco Food and Fiber Co. (HEMP.V), Emblem Corp. (EMC.V), Green Acre Capital and on the board of the Design Exchange.
Lorne is a graduate of The John H. Daniels Faculty of Architecture, University of Toronto and has completed the ICD.D designation at the Rotman School of Management.
Alan Gertner is the co-founder and CEO of Tokyo Smoke, a modern lifestyle business that is inclusive of Cannabis. A lover of technology, design and everything in-between, Alan most recently led a $+100M organization at Google Asia Pacific. Alan is a proven leader in strategy and operations, including as a founding member of Google’s first Global Business Strategy team while based in Mountain View, California. Alan was formerly a Management Consultant at Oliver Wyman in New York and graduated Dean’s list from the Richard Ivey School of Business, Canada’s leading business school, in 2006.
An angel investor and advisor outside of Tokyo Smoke, Alan supports programs that empower the greater startup community, the cannabis movement and future generations of people pursuing their passions, including his own Time On Project (www.timeon.org), dedicated to self disruption, mindfulness and winning at life.