| Compagnie | Analyste | Symbole | Divulgation |
| 5N Plus Inc. | Nick Agostino, MBA, CFA, P. Eng. | VNP-T | U, V |
| Aecon Group Inc. | Jonathan Lamers | ARE-T | D, V |
| Ag Growth International Inc. | Equity Research | AFN-T | U |
| Alamos Gold Inc. | Ryan Hanley | AGI-T | V, P |
| Alithya Group Inc. | Nick Agostino, MBA, CFA, P. Eng. | ALYA-T | N/A |
| Allied Properties REIT | Frederic Blondeau, M.Sc. | AP.UN-T | N/A |
| Altius Minerals Corporation | Jacques Wortman, MBA | ALS-T | U |
| Altius Renewable Royalties Corp. | Equity Research | ARR-T | U |
| Amex Exploration Inc. | Ryan Hanley | AMX-V | U, V, P |
| Argonaut Gold Inc. | Ryan Hanley | AR-T | U, V, P |
| Artis REIT | Frederic Blondeau, M.Sc. | AX.UN-T | N/A |
| Atico Mining Corporation | Jacques Wortman, MBA | ATY-V | U, V, P |
| Atrium MIC | Frederic Blondeau, M.Sc. | AI-T | N/A |
| ATS Corporation | Equity Research | ATS-T | N/A |
| Automotive Properties REIT | Frederic Blondeau, M.Sc. | APR.UN-T | N/A |
| Azimut Exploration Inc. | Barry Allan, MBA | AZM-V | U, V |
| Bird Construction Inc. | Jonathan Lamers | BDT-T | V |
| Boardwalk REIT | Frederic Blondeau, M.Sc. | BEI.UN-T | N/A |
| Boyd Group Services Inc. | Jonathan Lamers | BYD-T | U |
| BSR REIT | Frederic Blondeau, M.Sc. | HOM.U-T | V |
| BTB REIT | Frederic Blondeau, M.Sc. | BTB.UN-T | N/A |
| Bunker Hill Mining Corp. | Ryan Hanley | BNKR-CSE | U, V, P |
| Calian Group Ltd. | Nick Agostino, MBA, CFA, P. Eng. | CGY-T | U |
| Canadian Apartment Properties REIT | Frederic Blondeau, M.Sc. | CAR.U-T | V |
| Canadian Net REIT | Frederic Blondeau, M.Sc. | NET.UN-V | N/A |
| CargoJet Inc. | Equity Research | CJT-T | U, V |
| Champion Iron Ltd. | Jacques Wortman, MBA | CIA-T | V |
| CloudMD Software & Services Inc. | Nick Agostino, MBA, CFA, P. Eng. | DOC-V | U |
| Converge Technology Solutions Corp. | Nick Agostino, MBA, CFA, P. Eng. | CTS-T | U |
| Dialogue Health Technologies Inc. | Nick Agostino, MBA, CFA, P. Eng. | CARE-T | U |
| Docebo Inc. | Nick Agostino, MBA, CFA, P. Eng. | DCBO-T | U |
| Dream Impact Trust | Frederic Blondeau, M.Sc. | MPCT.UN-T | N/A |
| Dream Industrial REIT | Frederic Blondeau, M.Sc. | DIR.UN-T | V |
| Elemental Altus Royalties Corp. | Jacques Wortman, MBA | ELE-V | N/A |
| European Residential REIT | Frederic Blondeau, M.Sc. | ERE.UN-T | V |
| Exchange Income Corp. | Jonathan Lamers | EIF-T | U |
| Firm Capital Apartment REIT | Frederic Blondeau, M.Sc. | FCA.U-V | N/A |
| Firm Capital MIC | Frederic Blondeau, M.Sc. | FC-T | N/A |
| Firm Capital Property Trust | Frederic Blondeau, M.Sc. | FCD.UN-T | N/A |
| First Mining Gold Corp. | Jacques Wortman, MBA | FF-T | N/A |
| Fortuna Silver Mines Inc. | Jacques Wortman, MBA | FVI-T | N/A |
| Fury Gold Mines Limited | Barry Allan, MBA | FURY-T | U, V |
| Galway Metals Inc. | Jacques Wortman, MBA | GWM-V | U, V, P |
| Gold Mining Inc. | Barry Allan, MBA | GOLD-T | N/A |
| Gold Royalty Corp. | Jacques Wortman, MBA | GROY-NYSE | N/A |
| Goldshore Resources Inc. | Barry Allan, MBA | GSHR-V | U |
| Granite REIT | Frederic Blondeau, M.Sc. | GRT.UN-T | V |
| Heroux Devtek Inc. | Jonathan Lamers | HRX-T | N/A |
| Hydro One Ltd. | Equity Research | H-T | U, D |
| Inovalis REIT | Frederic Blondeau, M.Sc. | INO.UN-T | N/A |
| InterRent REIT | Frederic Blondeau, M.Sc. | IIP.UN | N/A |
| Invesque Inc. | Frederic Blondeau, M.Sc. | IVQ-T | N/A |
| Jaguar Mining Inc. | Barry Allan, MBA | JAG-T | N/A |
| Killam Apartment REIT | Frederic Blondeau, M.Sc. | KMP.UN | V |
| Kinaxis Inc. | Nick Agostino, MBA, CFA, P. Eng. | KXS-T | N/A |
| Magnet Forensics Inc. | Nick Agostino, MBA, CFA, P. Eng. | MAGT-T | N/A |
| Mainstreet Equity Corp. | Frederic Blondeau, M.Sc. | MEQ-T | N/A |
| Major Drilling International Ltd. | Ryan Hanley | MDI-T | N/A |
| Maple Gold Mines Ltd. | Barry Allan, MBA | MGM-V | V |
| mdf commerce inc. | Nick Agostino, MBA, CFA, P. Eng. | MDF-T | U, V |
| Minto Apartment REIT | Frederic Blondeau, M.Sc. | MI.UN-T | V |
| Monarch Mining Corporation | Jacques Wortman, MBA | GBAR-T | U |
| Morguard North American REIT | Frederic Blondeau, M.Sc. | MRG.UN-T | N/A |
| New Gold Inc. | Ryan Hanley | NGD-T | U, V, P |
| NexLiving Communities Inc. | Frederic Blondeau, M.Sc. | NXLV-V | N/A |
| Nexus Industrial REIT | Frederic Blondeau, M.Sc. | NXR.UN-T | U |
| Nighthawk Gold Corp. | Ryan Hanley | NHK-T | U |
| NorthWest Healthcare Properties REIT | Frederic Blondeau, M.Sc. | NWH.UN-T | U |
| Omai Gold Mines Corp. | Ryan Hanley | OMG-V | U |
| Orogen Royalties Inc. | Jacques Wortman, MBA | OGN-V | N/A |
| Plaza Retail REIT | Munish Garg, MBA | PLZ.UN-T | N/A |
| Probe Gold Inc. | Barry Allan, MBA | PRB-T | U |
| PROREIT | Frederic Blondeau, M.Sc. | PRV.UN-V | V |
| Pure Gold Mining Inc. | Barry Allan, MBA | PGM-V | U |
| Radisson Mining Resources Inc. | Ryan Hanley | RDS-V | U, V, P |
| Russel Metals Inc. | Equity Research | RUS-T | U |
| Savaria Corporation | Nick Agostino, MBA, CFA, P. Eng. | SIS-T | U, V |
| Sienna Senior Living Inc. | Frederic Blondeau, M.Sc. | SIA-T | N/A |
| Slate Grocery REIT | Munish Garg, MBA | SGR.UN-T | V |
| Slate Office REIT | Frederic Blondeau, M.Sc. | SOT.UN-T | U |
| Softchoice Corporation | Nick Agostino, MBA, CFA, P. Eng. | SFTC-T | U, V |
| Superior Gold Inc. | Ryan Hanley | SGI-V | U |
| Sylogist Ltd. | Nick Agostino, MBA, CFA, P. Eng. | SYZ-T | N/A |
| TECSYS Inc. | Nick Agostino, MBA, CFA, P. Eng. | TCS-T | U, V |
| The Descartes Systems Group Inc. | Nick Agostino, MBA, CFA, P. Eng. | DSG-T | V |
| Timbercreek Financial Corp. | Frederic Blondeau, M.Sc. | TF-T | N/A |
| Tribe Property Technologies Inc. | Frederic Blondeau, M.Sc. | TRBE-V | U |
| Troilus Gold Corp. | Jacques Wortman, MBA | TLG-T | U, V, P |
| Vox Royalty Corp. | Jacques Wortman, MBA | VOX-V | N/A |
| Voxtur Analytics Corp. | Frederic Blondeau, M.Sc. | VXTR-V | U |
| WELL Health Technologies Corp. | Nick Agostino, MBA, CFA, P. Eng. | WELL-T | U |
| Wesdome Gold Mines | Barry Allan, MBA | WDO-T | U, V, P |
| WSP Global Inc. | Jonathan Lamers | WSP-T | U |
The analyst(s) certify that (1) the views expressed in this report in connection with securities or issuers they analyze accurately reflect their personal views and (2) no part of their compensation was, is, or will be directly or indirectly, related to the specific recommendations or views expressed by them in this report.
The Research Analyst's compensation is based on various performance and market criteria and is charged as an expense to certain departments of Laurentian Bank Securities (LBS), including investment banking.
| A | The Analyst, in his/her own account or in a related account, owns securities of this issuer. |
| L | LBS collectively beneficially owns in excess of 1% of one or more classes of the issued and outstanding equity securities of this issuer. |
| O | The Head/Deputy Head of Equity Research, in his/her own account or in a related account, owns securities of this issuer. |
| U | Within the last 24 months, LBS has undertaken an underwriting liability with respect to equity securities of, or has provided advice for a fee with respect to, this issuer. |
| V | The Analyst has visited material operations of this issuer. |
| P | This issuer paid a portion of the travel-related expenses incurred by the Analyst to visit material operations of this issuer |
| D | A member of the Board of directors of LBS sits on the Board of directors of this issuer |
The information contained in this document is based on what we deem to be reliable sources, but no guarantee or promise, explicit or implicit, is given as to the accuracy and exhaustiveness of these sources. This report shall under no circumstances be considered an offer to buy or sell, or a request to buy and/or sell the stocks mentioned. Laurentian Bank Securities Inc. and its employees may not be held liable for any monetary losses stemming from the implementation of the recommendations contained in this document. Laurentian Bank Securities Inc. and/or its officers, directors, representatives, traders, analysts and members of their families may hold positions in the stocks mentioned in this document and may buy and/or sell these stocks on the market or otherwise. Stocks in foreign currency may be adversely affected by exchange rate fluctuations. Laurentian Bank Securities Inc. is a wholly-owned subsidiary of Laurentian Bank of Canada. The opinions, projections and estimates are those of the Economic and Financial Research department of Laurentian Bank Securities Inc. as at the date appearing on the cover page, and are subject to change without prior notice. Laurentian Bank Securities Inc. may, in exchange for remuneration, act as a financial advisor or tax consultant for, or participate in the financing of companies mentioned in this document. The regulation of the securities market establishes requirements that analysts must follow when issuing research reports or making recommendations. These guidelines are included in the research dissemination policy of Laurentian Bank Securities, available at http://www.vmbl.ca/actions/Actions_PolitiquesRecherche.jsp?lang=en.
