Canaccord Genuity Growth II Corp. Announces Extension of Permitted Timeline for Completion of its Qualifying Transaction
TORONTO, April 1, 2021 /CNW/ - CANACCORD GENUITY GROWTH II CORP. (TSX: CGGZ.UN) (NEO: CGGZ.UN) (the "Corporation") announced today that, following receipt of approval by the holders of its class A restricted voting shares, the board of directors has approved that, effective April 5, 2021, the date by which the Corporation has to consummate its qualifying transaction will be extended from April 5, 2021 to May 31, 2021 (the "Extension").
In connection with the Extension, the Corporation will redeem approximately 13.8 million class A restricted voting units that have been deposited for redemption in connection therewith, at a redemption price of approximately $3.03 per unit for a gross amount of approximately $41.7 million. As previously announced, the Corporation expects its proposed merger with Taiga Motors Inc. to close during the week of April 19, 2021.
About Canaccord Genuity Growth II Corp.
Canaccord Genuity Growth II Corp. is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination involving the Corporation that will qualify as its "qualifying transaction". For more information regarding the Corporation, see the Corporation's most recent annual information form, financial statements, management's discussion & analysis and other continuous disclosure documents periodically filed on SEDAR.
Forward–Looking Statements
This press release may contain forward–looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events. Forward–looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward–looking information. The Corporation does not undertake any obligation to update such forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Canaccord Genuity Growth II Corp.
Canaccord Genuity Growth II Corp., Michael Shuh, Chairman and Chief Executive Officer, Canaccord Genuity Growth II Corp., [email protected]
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