04:07:12 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canaccord Genuity Group Inc
Symbol CF
Shares Issued 103,820,406
Close 2016-06-03 C$ 4.54
Market Cap C$ 471,344,643
Recent Sedar Documents

Canaccord to raise $28.67-million in private placement

2016-06-06 08:47 ET - News Release

Ms. Christina Marinoff reports

CANACCORD GENUITY GROUP INC. ANNOUNCES PRIVATE PLACEMENT

Canaccord Genuity Group Inc. has arranged a non-brokered private placement for up to 6,876,824 units to employees of the company at a purchase price of $4.17 per unit for aggregate proceeds to the company of up to $28,676,356. Each unit consists of one common share of the company and one-half of one common share purchase warrant.

Common shares issued under the private placement will be subject to a hold period of up to three years, with one-third of the common shares issued to each purchaser becoming freely tradable on each anniversary of closing date of the private placement.

Each whole warrant will entitle the holder to acquire one common share at an exercise price of $4.99 for a period of six months following the third anniversary of closing. Warrants will not be listed and will not be transferable.

The company intends to use the proceeds of the private placement to finance the company's independent employee benefit trusts, established under its long-term incentive plan, which will purchase common shares in the market to cover grants of restricted share units to those employees who have participated in the private placement.

The private placement is subject to customary closing conditions, including execution of subscription agreements and final approval by the Toronto Stock Exchange.

The company anticipates closing the private placement as soon as practicable.

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