An anonymous director reports

CANACCORD GENUITY GROUP INC. ANNOUNCES FINAL RESULTS OF SUBSTANTIAL ISSUER BID

Canaccord Genuity Group Inc. will take up and purchase for cancellation 7,272,727 of its common shares at a purchase price of $5.50 per common share under the company's substantial issuer bid for aggregate consideration of $39,999,998.50.

Common shares purchased under the offer represent approximately 6.28 per cent of the issued and outstanding common shares on a non-diluted basis as at July 3, 2019, the time the offer was announced. After giving effect to the offer, 108,474,831 common shares will be issued and outstanding.

A total of approximately 18,918,198 common shares were properly tendered to the offer and not withdrawn. As the offer was oversubscribed, shareholders who made auction tenders at a price of $5.50 and purchase price tenders will have approximately 59 per cent of their successfully tendered common shares purchased by the company, other than odd-lot tenders, which are not subject to proration.

Payment for the purchased common shares will be effected by Computershare Trust Company of Canada in accordance with the offer and applicable law. Any common shares tendered at a purchase price per common share above $5.50 per common share will be returned to shareholders promptly by the depositary.

The full details of the offer are described in the offer to purchase and issuer bid circular dated July 3, 2019, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR.

On Aug. 12, 2019, the company announced a normal course issuer bid (NCIB) to purchase up to a maximum of 5,423,872 of its common shares through the facilities of the Toronto Stock Exchange or alternative Canadian trading systems. Purchases under the NCIB are expected to be able to commence on Aug. 15, 2019, and will continue for one year (to Aug. 14, 2020).

The company and its board of directors believe that share buybacks represent an equitable and efficient means of capital distribution and enhance shareholder value by proportionately increasing the equity interest in the company of its shareholders and reducing the number of shares outstanding for the purpose of calculating its adjusted earnings per common share.

About Canaccord Genuity Group Inc.

Through its principal subsidiaries, Canaccord is a leading independent, full-service financial services 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. It achieves this by generating value for its individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services.

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