Mr. Michael Auerbach reports

CANACCORD GENUITY GROUP INC. ANNOUNCES EXPIRATION OF BID AND STANDSTILL AGREEMENT WITH MANAGEMENT GROUP

Further to the news release issued today by members of Canaccord Genuity Group Inc.'s management team in connection with the expiration of its bid to acquire all of the common shares of the company not already owned by the management group, the company has entered into an agreement with the management group with respect to certain matters relating to the offer.

As noted in the management group news release issued today, certain substantive conditions to the offer, including conditions related to the receipt of required regulatory approvals, were not satisfied as of the offer's expiry time, and the management group determined not to extend the offer. As a result, no common shares were acquired pursuant to the offer and the offer is now terminated.

The agreement contains, among other provisions, a two-year standstill with voting support commitments from certain members of the management group in favour of board-supported director nominees, reimbursement of certain reasonable expenses of the management group (subject to clawback in certain circumstances), and continuation of an ad hoc independent committee, if required, for purposes of considering potential value-enhancing alternative transactions that may be available to the company.

"As chair of the special committee, I would like to thank my fellow committee members, Terry Lyons, Amy Freedman and Rod Phillips, for their hard work and valued efforts over the past couple of months in responding to the offer. As independent directors, we look forward to ensuring strong governance while continuing to work constructively with management in our efforts to enhance and unlock value for all shareholders," said Michael Auerbach.

In addition, the board has appointed each of Ms. Freedman and Mr. Phillips, as independent directors, to both the audit and risk committee and the corporate governance and compensation committee.

The agreement will be filed on SEDAR.

About Canaccord Genuity Group Inc.

Through its principal subsidiaries, Canaccord Genuity Group is a leading, independent, full-service financial service firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the company has been driven by an unwavering commitment to building lasting client relationships. Canaccord Genuity achieves this by generating value for its individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The company has wealth management offices located in Canada, the United Kingdom, Guernsey, Jersey, the Isle of Man and Australia. The company's international capital markets division operates in North America, the United Kingdom/Europe, Asia, Australia and the Middle East.

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