11th EDITION - Van Berkom John Molson Small-Cap Case ...
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TABLE OF CONTENTS WELCOME Message from the Dean 03 Division Breakdown Participants’ Schedule 04 05 Message About the Founder 06 from the Dean Message from the Director 08 Judges 09 On behalf of the John Molson Judges’ Schedule 10 School of Business, welcome to Participating Schools Montreal and welcome to Concordia. I am very proud that ALBERTA SCHOOL OF BUSINESS (University of Alberta) 13 for the eleventh year we will be BABSON COLLEGE 14 hosting the Van Berkom John DESAUTELS FACULTY OF MANAGEMENT (McGill University) 15 Molson School of Business Small- DESAUTELS FACULTY OF MANAGEMENT (McGill University) Cap Case Competition, the only 16 case competition in Canada HEC MONTRÉAL 17 focused exclusively on small-cap business cases. At the John Molson JOHN MOLSON SCHOOL OF BUSINESS (Concordia University) 18 School of Business, we firmly believe that as we prepare students for the job market, it is imperative that we expose them to as many SMITH SCHOOL OF BUSINESS (Queen’s University) 19 dimensions of business as possible, in addition to what they learn in UNIVERSITÉ LAVAL 20 class. This event is a shining example of that kind of hands-on learning. WILLIAMS SCHOOL OF BUSINESS (Bishop’s University) 21 I would like to extend a special thank you to Mr. J. Sebastian van Word from the Organizers 22 Berkom, LLD 17, a great alumnus and friend of the John Molson School Thank you to our Sponsors 23 of Business, for his foresight and generosity when he established this unique competition. I wish all the participants the best of luck. Anne-Marie Croteau, PhD, CDir Dean John Molson School of Business 03
DIVISION BREAKDOWN PARTICIPANTS’ SCHEDULE Prep Rooms FRIDAY, MARCH 25TH, 2022 TEAM A1 6.431 HEC MONTRÉAL DIVISION 8:30 - 9:00 Registration JOHN MOLSON SCHOOL OF BUSINESS A TEAM A2 6.437 CONCORDIA UNIVERSITY 9:00 - 9:45 Opening Remarks & Breakfast TEAM A3 5.110 DESAUTELS FACULTY OF MANAGMENT 10:00 - 12:00 Case Prep 1 MCGILL UNIVERSITY (2) 12:00 - 13:00 Live Case TEAM B1 6.433 SMITH SCHOOL OF BUSINESS QUEEN'S UNIVERSITY 13:00 - 16:00 Case Prep 2 DIVISION TEAM B2 5.106 16:15 - 17:00 B Presentation Group 1 (A1, B1, C1) UNIVERSITÉ LAVAL 17:00 - 17:45 Presentation Group 2 (A2, B2, C2) TEAM B3 5.232 ALBERTA SCHOOL OF BUSINESS UNIVERSITY OF ALBERTA 17:45 - 18:30 Presentation Group 3 (A3, B3, C3) WILLAMS SCHOOL OF BUSINESS TEAM C1 6.435 BISHOP'S UNIVERSITY 19:00 - 20:30 Evening Remarks & Dinner DIVISION SATURDAY, MARCH 26TH, 2022 TEAM C2 5.107 DESAUTELS FACULTY OF MANAGMENT C MCGILL UNIVERSITY (1) 9:00 - 9:45 Opening Remarks & Breakfast TEAM C3 5.234 BABSON COLLEGE PRESENTATION ROOMS 10:00 - 12:00 Case Prep 1 Division A: 9A 12:00 - 13:00 Live Case Division B: 9B Division C: 9C+D 13:00 - 16:00 Case Prep 2 EVALUATION CRITERIA 16:15 - 17:00 Presentation Group 1 (A3, B3, C3) Each day, teams will be evaluated based on the following factors: Definition of Key Issues (5 points) 17:00 - 17:45 Presentation Group 2 (A2, B2, C2) Qualitative Analysis (5 points) Quantitative Analysis (5 points) 17:45 - 18:30 Presentation Group 3 (A1, B1, C1) Recommended Course of Action (5 points) Handling of Question Period (5 points) 19:00 - 21:30 Cocktail & Gala Presentation Effectiveness (5 points) Maximum score per day = 30 points Each team’s total score will be the sum of the daily averages. 04 05
“I am very much looking About forward to the eleventh Van Berkom and Counselor and Portfolio Manager and with the Securities and Exchange Associates Inc. the Founder year of Canada’s first small-cap case Commission (United States) as an Investment Advisor. VBA is an VBA concentrates 100% of its accredited International Financial competition for business activities on Canadian, U.S. and Centre (IFC). In June 1, 1999, the students. Since the first Asian small- capitalization equities. company established its small-cap The company manages small-cap equity management division in the year of the Van Berkom stock portfolios for large North U.S. JMSB Small-Cap Case American pension funds, Competition, the caliber of corporations, foundations, and In 2012, Van Berkom Golden Dragon endowment funds. Limited (VBGD) was incorporated in participants has continued Hong Kong to provide an Asian small- to increase. I’m looking cap equity product to professional forward to another fun Company investors. The disciplined investment approach, utilized by J. Sebastian van event and bringing History Berkom, is being applied by all a new level of challenge members of the investment team. While Canadian, U.S. and Asian to our rising stars in the VBA has been in the business of investment teams work separately, the investment banking managing small-cap portfolios firm benefits from the cross- since 1991. The company is fertilization of ideas that results world.” registered with the Québec, from focused in-house research of J. Sebastian van Berkom, B.Comm., Ontario, Alberta, British Columbia these markets. LL.D. Chairman, President and Chief and Manitoba Securities Executive Officer Van Berkom and Commissions as an Investment Associates Inc. and Van Berkom Golden Dragon Limited Mr. J. Sebastian van Berkom founded In 2005, he became a Founding Director Van Berkom and Associates (VBA) in 1991. of the Institute for Governance of Private He is the company’s Chairman, President and Public Organizations in Canada, and and CEO. He is also Chairman, President, in 2010, he was appointed to the Audit CEO and Responsible Officer of Van and Investment Committees. In 2013, Berkom Golden Dragon Limited in Hong J. Sebastian was appointed President Kong that was incorporated on February of the Investment Committee. In 2011, 22, 2012. His investment career he funded the Van Berkom JMSB Small- commenced in 1971 at the Bell Canada Cap Case Competition at Concordia. Pension Fund. In 1979, he became a Partner of LRM Investment In 2013, J. Sebastian was appointed Management, and in 1984 co-founded to the Investment Committee of the Montrusco Bolton Investments Inc. Montreal Children’s Hospital Foundation. In 2014, he founded the Van Berkom He has won the Small-Cap Manager Small-Cap Investment Management of the Year Award in 1997 and was a Program at the JMSB. Since 2015, the finalist at the Annual Ernst & Young Stephen A. Jarislowsky Fellowship was Entrepreneur of the Year Awards in 1998. established under the VBIMP at the JMSB © Concordia University In 2003, he funded the Van Berkom at Concordia. In 2017, he received an Endowed Chair in Small-Cap Equities Honorary Doctor of Laws Degree from at the John Molson School of Business Concordia University. (JMSB) at Concordia University. 06 07
JUDGES Message from the Director DAY PANEL 1 1 HEAD: J. Sebastian Van Berkom, Founder & Partner, Chairman, and Chief Executive Officer, Van Berkom and Associates and Van Berkom Golden Dragon Limited Caroline Montminy, Vice President & Investment Counsellor, Burgundy Asset Management Constantine Kostarakis, President, CIO & Portfolio Manager, Summus Investment As an organizing team, we worked hard to adapt this year after being used to a virtual Management Inc. environment. We hope that participating Derrick Gut, Director & Senior Research Analyst, Jarislowsky Fraser Limited teams and judges are as excited as we are to finally return to having this competition PANEL 2 in person. HEAD: François Watier, Partner & Portfolio Manager, Van Berkom and Associates In the classroom, students learn portfolio Amr Ezzat, Managing Director, Equity Research, Echelon Capital Markets theory and market efficiency. The Van Philippe Côté, Vice President, Portfolio Manager, and Director of Research, Eterna Berkom John Molson School of Business Financial Group Small-Cap Case Competition enables Lorne Steinberg, President, Lorne Steinberg Wealth Management students to take this in-class learning and apply it to smallcap investing, which allows for bottom-up stock picking and the PANEL 3 pursuit of abnormal returns. HEAD: Owen Gibbons, Partner & Senior Portfolio Manager, Van Berkom and Associates It’s a unique way to approach valuation and a great compliment to the Patrick Lauziere, Senior Analyst, Canadian Equities, Small Cap, Fiera Capital classroom theory. At the VBCC, the buy-side meets the sell-side, valuation is Peter Barnes, Principal and Risk Management Consultant, Anthemion Capital followed up by a pitch and the investment world enters the classroom. It is Management LLC through the generous monetary and in kind donations from our sponsors that this competition is possible. We sincerely appreciate your support and look forward to another successful and exciting competition. DAY PANEL 1 Adjunct Professor at the Finance Department and 2 HEAD: Amr Ezzat, Managing Director, Equity Research, Echelon Capital Markets Thomas Horvath, Lead Analyst, Global Equities, StonePine Asset Management the Goodman Institute of Investment Management, Peter Barnes, Principal and Risk Management Consultant, Anthemion Capital Director of the Van Berkom Investment Management Program at JMSB, Management LLC Director of the Van Berkom JMSB Small-Cap Case Competition PANEL 2 HEAD: J. Sebastian Van Berkom, Founder & Partner, Chairman, and Chief Executive Officer, Van Berkom and Associates and Van Berkom Golden Dragon Limited Sandy Poire, Senior Investment Officer, CN Investment Division Patrick Lauziere, Senior Analyst, Canadian Equities, Small Cap, Fiera Capital PANEL 3 HEAD: François Watier, Partner & Portfolio Manager, Van Berkom and Associates Balal Rasool, Analyst, Van Berkom & Associates Vitalie Crestianov, Equity Analyst, Global Alpha Capital Management Ltd. Photo credit: Allen McInnis 08 09
JUDGES’ SCHEDULE Alice Sany FRIDAY, MARCH 25TH, 2022 MBA’19 Global Investment Banking Analyst Royal Bank 15:30 - 15:55 Judges Briefing of Canada 16:15 - 17:00 Presentation Group 1 (A1, B1, C1) 17:00 - 17:45 Presentation Group 2 (A2, B2, C2) 17:45 - 18:30 Presentation Group 3 (A3, B3, C3) 19:00 - 20:30 Evening Remarks & Dinner SATURDAY, MARCH 26TH, 2022 15:30 - 15:55 Judges Briefing Ze Han Shen MBA’20 Investment Analyst – Global Research 16:15 - 17:00 Presentation Group 1 (A3, B3, C3) Caisse de Dépot et Placement du Québec (CDPQ) 17:00 - 17:45 Presentation Group 2 (A2, B2, C2) 17:45 - 18:30 Presentation Group 3 (A1, B1, C1) 19:00 - 21:30 Cocktail & Gala Ange-Marie D’Amizero MBA’22 Private Banking Associate TD Photo credit: Allen McInnis 10 11
ALBERTA SCHOOL Together, let’s make OF BUSINESS the world of finance as diverse UNIVERSITY OF ALBERTA as the one we live in. The Alberta School of Business is one of the world’s leading institutions of business education and research. It consistently ranks as a top 10 University Business Program in Canada, and as a top 150 University globally. As Canada’s first and longest continually accredited business school, the Alberta School of Business embodies the spirit of risk taking and hard work that defines the province. The innovation, entrepreneurialism and leadership of the School’s alumni have strengthened businesses and communities across the globe for over a century. PARTICIPANTS Giovanni is a full-time Jianyu Feng is a MBA Student full-time MBA specializing in student at the Finance. He was most University of recently an Equity Alberta and holds Investment Analyst a Bachelor of for a Toronto-based Commerce degree asset management in Finance. He is firm where he would currently a CFA research, analyze, level II Candidate value, and pitch investment and interested in financial valuation and recommendations for small and mid global investment. He is assisting a CDL – capitalization North American equities. Rockies Venture to achieve needed objectives. JIMMY JEAN, CFA Desjardins Raghav (Roger) Darcy Stevens is a JEAN-PIERRE KHLOT, CFA Agarwal, EIT is a full- Part-time MBA Caisse de dépôt et placement du Québec time MBA Finance student and a candidate from the Materials Engineering University of Alberta Grad from the CANDICE BANGSUND, CFA and recently passed University of Alberta. Fiera Capital CFA level I. He has 3 Employed at Capital years of experience Power as a Senior as a field engineer Corporate Strategy for oil and gas Analyst, Darcy is a companies and is currently working for subject matter expert in all things Imperial Oil as a Crude Trading Analyst electricity, from power technology to policy Discover the CFA® Charter Intern. He aspired to apply his finance and and renewable finance, specializing in industry experience to analyze Renewable energy optimization. cfamontreal.org/CFAdesignation investments for his future employer. 12 13
BABSON DESAUTELS FACULTY COLLEGE OF MANAGEMENT McGILL UNIVERSITY Babson College is a private business school in Wellesley, Massachusetts. Established in 1919, its central focus is on entrepreneurship education and the Founded in 1906, the Desautels Faculty of Management at McGill University is undergraduate college has been ranked #1 for entrepreneurship in the United ranked as one of the world’s top international business schools. The Faculty’s States for the past 25 years. At Babson, we believe that entrepreneurship can innovative programs and historic reputation for excellence continue to attract be a powerful force within organizations of all types and sizes, in established the finest students and the most prominent professors from around the globe to businesses as well as new ventures. In any industry, in any position, it takes its downtown campus located in the vibrant metropolis of Montreal. Entrepreneurial Thought & Action® to solve problems and make an impact. PARTICIPANTS PARTICIPANTS Ryan is a Junior at Nathan is Junior at Born in In a modern fairy Babson College in Babson College in Sherbrooke, tale, Leo’s interest the Honors the Honors Quebec, Marc- in finance began Program pursuing Program pursuing Antoine was always when his godfather a concentration in a concentration in passionate about gifted him 1 share Finance and Finance and hockey and of Disney for his Economics. Ryan is Economics. He is business news. He 8th birthday. His currently an currently an joined McGill growing curiosity analyst in the analyst in the where he got for markets led him Babson College Babson College involved in various to study investme- Fund covering the Energy & Materials Fund covering the Industrials Sector. finance clubs and quickly developed a -nt management at McGill University and sector. Outside of school, Ryan enjoys Outside of school, Nathan enjoys reading, passion for finance due to its sport-like intern in investment banking, a career he playing the french horn, piano, and running, and playing hockey. team environment, competitiveness, and now plans to pursue upon graduation. hockey. impact on the business world. Outside of his studies, Marc-Antoine enjoys skiing, playing the saxophone, and criticizing the latest Montreal Canadiens performances. Tyson Corner is a Anthony was born After watching the graduating senior in the Caribbean movie “The Big at Babson College and raised in Short”, Idir started where he is Montreal. Growing being passionate concentrating in up a citizen of the about finance and Computational and world, he traveled investing which led Mathematical extensively which him to join McGill Finance, Data allowed him to University where Analytics, and discover many he is involved in Finance. He has interests ranging multiple case com- focused on creating impact, creating a from oceanography to finance. Anthony -petitions and clubs. After his internships in program known as SPEAR IB on campus to has experience in investment banking and fixed income risk and asset management, improve Babson students’ chances at intends to join the industry after Idir will be working in investment banking receiving investment banking internships. graduation.- while being an aspiring music producer and photographer. 14 15
DESAUTELS FACULTY HEC OF MANAGEMENT MONTRÉAL McGILL UNIVERSITY Founded in 1906, the Desautels Faculty of Management at McGill University is Founded in 1907, HEC Montreal is the first university-level business school in ranked as one of the world’s top international business schools. The Faculty’s Canada, and it has been recognized for the excellence of its programs locally and innovative programs and historic reputation for excellence continue to attract internationally. The Montreal based institution is open to the world and solidly the finest students and the most prominent professors from around the globe to rooted in Quebec society. It trains management leaders who make responsible its downtown campus located in the vibrant metropolis of Montreal. contributions to the success of organizations and to sustainable development. PARTICIPANTS PARTICIPANTS Born and raised in Julia was born and Élizabeth Laroche Maxime Amyot: is a Montreal, Julien's raised in Waterloo, is a full-time third-year student taste for finance Ontario. A strong student at HEC in finance at HEC started at an early believer in the Montréal Montreal and is a age, thanks to the benefits of specializing in CFA level 1 dedication and experiential Finance. She is candidate. He is a mentorship of his learning, she was currently part of member of HEC’s father. He is a very drawn to the the school’s trading club and curious young hands-on learning student economics man, who likes to opportunity offered investment fund association read and learn about history and by case competitions. In her free time, she (FPHEC) as well as the student economics (HEConomie). Maxime enjoys high geography as well as politics and travel the enjoys re-watching her favourite shows, association (HECOnomie). Previously, pressure environments and hopes to world to discover new cultures. and discovering unique restaurants in the Elizabeth has completed an AEC in pursue a career in investment banking. In city. residential real estate and has hopes of his free time, he enjoys soccer and sailing. following a career path in private equity and/or wealth management. Philippe Nicholas was born Patrick Ismael Mark-Andrew discovered his and raised in Bamba is a third- Zarow-Robin is a passion for finance Montreal, and year student in student at HEC after interning in a became interested quantitative Montreal fintech during high in finance when he finance at HEC specializing in school. He has opened his TFSA Montreal and Vice finance and investing account at the age President of member of the experience in of 18. He is active in External Affairs of HEC Student venture capital at the various case HEC’s economics Investment Fund Front Row Ventur- competitions and association. Born (FPHEC). Prior to -es and will be interning in Investment investment clubs on campus and enjoys and raised in Côte d’Ivoire, he chose to joining HEC, he completed a year of Banking this summer. In his spare time, spending time with friends outside of pursue studies in finance because of his studies in actuarial sciences. He transferred Philippe enjoys playing soccer with friends school exploring new cocktail clubs. passion for the financial services industry. programs to pursue professional goals in or reading French literature. Patrick plans to complete a Master of investment banking. Mark Andrew is Science in finance and become a quant. competitive with much experience in sports as an athlete/coach in sailing. 16 17
JOHN MOLSON SCHOOL SMITH SCHOOL OF BUSINESS OF BUSINESS CONCORDIA UNIVERSITY QUEEN’S UNIVERSITY Smith School of Business at Queen’s University is renowned for its excellence, innovation, and leadership in business education. From establishing the first The John Molson School of Business, commonly known as John Molson, is a undergraduate business degree over a century ago to creating ground-breaking business school located in Montreal, Quebec, Canada. The John Molson School of programs and courses in emerging areas including artificial intelligence, fintech, Business was established in 1974 by Concordia University. The John Molson School analytics, cultural diversity, entrepreneurship, team dynamics, social impact, and of Business has a very large community of student-run clubs and events. more, Smith is at the forefront of preparing students for the business marketplace. In addition to its rich tradition of academic and teaching excellence, Smith is known for delivering an outstanding learning and development experience. PARTICIPANTS PARTICIPANTS Bernard is an MBA Manat is an MBA Matt Quist is a Cyprian Yande is candidate at student, with a Master of Finance a member of Concordia bachelor’s degree student at Queen's Chartered University. He holds in Finance. He has University. He is Professional a bachelor’s degree experience in currently Manager, Accountants of in Mechanical accounting and Canada Canada (CPA) and Engineering. He investment Warehouses at TC a member of the has a 7-year advisory. He is also Energy in Calgary, Association of experience in the the President for Alberta. Prior to Certified oil and gas industry John Molson Grad- joining TC Energy, Chartered in the gulf in technical as well as -uate Investment Club at Concordia Matt was an Army Logistics Officer in the Accountants-UK with 10+ years’ managerial positions. University. Canadian Armed Forces. He retired at the experience, performing due diligence, rank of Captain after holding various financial statement analysis, financial command and staff roles. Matt is modeling, valuations, auditing, and IFRS pursuing the CFA Charter starting in 2022 Projects. He is a Master of Finance and is planning a transition into Finance. student at Smith School of Business. Anuj is an MBA Pratik is currently Nikhil is a Gopal Vaid is a student at John pursuing his MBA Chartered Master of Finance Molson School of from the John Accountant. He has student at Smith Business, Molson School of also completed all School of Business Concordia Business. He holds 3 levels of the CFA. -Queen's University. He a bachelor’s in Nikhil is working as University. He is an holds a bachelor’s chemical an investment investment degree in engineering and analyst in a banking analyst Computer Science has four years of portfolio intern at Beacon and Engineering. work experience in management firm. Mergers and He has over nine years of work experience techno-commercial Sales in the Food & Previously, he has worked in asset Acquisitions. Prior to this role he has in the software and banking industries Beverage industry. His area of expertise management industry for 10+ years and worked as research analyst at Discidium includes Sales, Strategy & Operations, and led financial reporting, budgeting, Internet labs (renamed as flobiz India) Finance. He plans to seek the position of valuation, industry analysis and vendor and also worked as junior investment an ESG Associate post his MBA. management. analyst for a family office proprietary investment firm called Corporate database. 18 19
UNIVERSITÉ WILLIAMS SCHOOL LAVAL OF BUSINESS BISHOP’S UNIVERSITY Nestled in the beautiful Eastern Townships on 550 acres of greenery and through Located in one of North America’s most vibrant and historic French-speaking its over 175-year history, Bishop’s University has prided itself on its community cities, FSA ULaval is leading the way towards a new concept for business atmosphere. The Williams School of Business brings real-world experiences into administration, as Québec’s unique position combines international flair with the classroom, and where professors know students by name. Studying in the proximity to major centers of innovation. FSA ULaval's large and experienced WSB provides students with a practical, experiential, interactive business faculty will also give you the skills to drive the expansion of ethical and education. Students learn to solve real-life dilemmas, devise innovative solutions sustainable businesses around the globe with courses taught in both French and for local companies and start building their own business network. We believe that English. From the diversity, history, and dynamism of Québec City to new teaching must be enriched by hands-on experience to develop important future- frontiers abroad, the world of business is yours to discover. ready competencies. PARTICIPANTS PARTICIPANTS Vincent Boutin Currently in Max Toguri-Laurin Maya Lauzon is a studies at FSA exchange at UofT, is a final-year fourth year double Ulaval and is an Eloi Bernier studies student from major in Business accounting major financial Montreal majoring and International as well as a finance economics. in Finance. Studies. She holds minor. He has Graduating in Currently serving the Head Strategist acquired December 2022 as President of the position for knowledge in from Laval Finance Society Bishop’s student valuation during University with and Portfolio investment the last year as an honor distinction in Manager in the portfolio and analyst in business valuation at Deloitte. financial economics. Eloi secured an SEED Portfolio Management Program, actively participat- Vincent will take the CPA exam in 2023. internship at Sagard Holding, a private Max has also proudly represented BU at -es in finance case competitions. She plans alternative asset management firm as an several business case competitions. Upon to start a graduate degree in International analyst in corporate development. graduation, he hopes to pursue a career Business this upcoming fall. Previously, Eloi worked in business strategy in capital markets. at Desjardins Business. Hank Wulder is a Justin Brant is a Bertrand Leduc is Hubert Peyrefitte third-year student fourth-year completing his is a second-year pursuing an Finance student Accounting student m honours degree in who has been undergraduate ajoring in Economics with a heavily involved in degree from Laval Actuarial Science. minor in finance. case competitions, University and an He aspires to Born and raised in most recently aspiring CPA. become an Victoria British winning JDCC. He Besides actuary, to work Columbia, Hendrik has previously accounting, in Data Analytics is highly involved worked in asset- Bertrand participa- and Modeling in private equity. Lately, on campus as an assistant strategist for liability management at RBC, as well as -ted in many competitions such as the JDC Hubert has been working on rental the SEED Student Investment Fund. In indigenous economic policy at the AFN. He in Sustainability and Financial Open in pricing and real estate valuation. his free time, he enjoys playing sports plans to pursue a career in strategy Financial Accounting. Also VP of the CPA and spending time outdoors. Hendrik consulting. Committee at Laval University, Bertrand is hopes to pursue a career in equity currently working at EY as a junior research. accountant in assurance services. 20 21
WORD FROM THE ORGANIZERS THANK YOU TO OUR SPONSORS Photo credit (Amr Addas): Allen McInnis From left to right: Amr Addas, Prathamesh Wanare, Amy Nguyen, Anza Khan, Phil Wei, Guy Barbeau It is a great honour to be a part of the We extend hearty thanks to Mr. Amr 11th annual Van Berkom John Molson Addas, VBCC’s Director and our School of Business Small-Cap Case preeminent advisor, for his Competition! Now, more than ever, leadership, encouragement and this synergistic, instructive event assistance whenever we have underscores the value and needed him. We also thank JMSB importance of informing and Dean, Mrs. Anne-Marie Croteau, for inspiring the next generation. After her unfailing support of our team these last few tough years, we are so and the competition. excited to finally be back in person. And finally, special thanks go to Mr. We acknowledge with thanks the Guy Barbeau, JMSB Director of competition’s founder, Mr. J. Student Life and Special Projects, Sebastian van Berkom, Founder & who has made our experience so Partner, Chairman and CEO of Van much easier! Berkom and Associates, a highly respected small-cap investment firm. We hope that this 2022 edition of As a dedicated alumnus of the John VBCC will bring indelible learning Molson School of Business, Mr. Van experiences and lasting memories to Berkom provides perennial support to all participants. the school for opportunities such as this event that contribute to the Sincerely, creation of a comprehensive The 2022 VBCC Organizing Team academic experience. © Concordia University 22 23
Photo credit: Allen McInnis 25 24
11th EDITION 1
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