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The Centre de recherches mathématiques (CRM) and the Canadian Association of Physicists (CAP) created in 1995 on the occasion of the 50th anniversary of the CAP, a joint prize in recognition of exceptional achievements in theoretical and mathematical physics.

The Canadian Association of Physicists, founded in 1945, is a professional association representing over 1600 individual physicists and physics students in Canada, the U.S. and overseas, as well as a number of Corporate and Institutional Members. In addition to its learned activities, the CAP also undertakes a number of activities intended to encourage students to pursue a career in physics.

The CRM is a national research centre in mathematics jointly supported by the federal government, the province of Québec, and the Université de Montréal where it is based. Among the activities of the CRM are thematic semesters, summer schools, workshops, seminars, and the publication of monographs, proceedings, and lecture notes in mathematics and physics. CRM also supports research through research laboratories, including one in mathematical physics.

The object of this award is to recognize research excellence in the fields of theoretical and mathematical physics. The award is not limited to CAP members but the candidates' research should have been done in Canada or in affiliation with a Canadian university or industry. This medal was awarded for the first time at the 1995 CAP Annual Congress.