Mr. Scott Davidson reports

CANACCORD FINANCIAL INC. DISCLOSES SHARE ISSUANCE

Canaccord Financial Inc. has issued 33,499 common shares related to the company's long-term incentive plan. The shares will be issued from treasury, due to the vesting of LTIP awards. Therefore, in respect of RSUs which have vested, a total 33,499 common shares of the company will be issued and an application has been made for their admission to AIM on May 18, 2012. Following the issuance of these shares, Canaccord Financial will have 101,722,220 common shares in issue.