Canaccord Genuity Growth II Corp. Announces Shareholder and Warrantholder Approval of All Resolutions in Connection With Its Qualifying Transaction
TORONTO, March 30, 2021 /CNW/ - CANACCORD GENUITY GROWTH II CORP. (TSX: CGGZ.UN) (NEO: CGGZ.UN) (the "Corporation") announced today that all the resolutions put to shareholders at the Corporation's special meeting of shareholders (the "Shareholders Meeting") and the resolution put to warrantholders at the Corporation's extraordinary meeting of warrantholders (the "Warrantholders Meeting" and together with the Shareholders Meeting, the "Meetings"), both held virtually on March 30, 2021, were approved. The Meetings were held in connection with the Corporation's proposed qualifying transaction with Taiga Motors Inc. (the "Qualifying Transaction").
The Corporation announced that (i) the resolution authorizing a consolidation of the issued and outstanding common shares of the Corporation (the "Common Shares") on the basis of five (5) pre-consolidation Common Shares for each one (1) post-consolidation Common Share to take place immediately after closing of the Qualifying Transaction (the "Closing"); (ii) the resolution authorizing the change of name of the Corporation to "Taiga Motors Corporation"; and (iii) the resolution authorizing the board of directors of the Corporation to adopt an omnibus equity incentive plan, the full text of which is set out in Appendix B of the Circular, were each approved by the affirmative vote of 99.99%, 99.99%, and 85.85%, respectively, of the votes represented at the Shareholders Meeting. Each of the foregoing resolutions are conditional upon Closing. In addition, the resolution to extend the date by which the Corporation has to consummate a qualifying transaction from April 5, 2021 to May 31, 2021 was approved by the affirmative vote of 95.06% of the votes represented by the holders of the Class A restricted voting shares at the Shareholders Meeting.
The resolution to authorize the Corporation to enter into a supplemental warrant agency agreement with Odyssey Trust Company to authorize the consolidation of the warrants of the Corporation on the basis of five (5) pre-consolidation warrants for each one (1) post-consolidation warrant, substantially in the form set out in Appendix A of the Circular, was approved by the affirmative vote of 99.89% of the votes represented by the holders of warrants at the Warrantholders Meeting. The foregoing resolution is also conditional on Closing.
A copy of the complete report on voting at the Meetings will be made available under the Corporation's profile on SEDAR at www.sedar.com.
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., Daniel Chung, Chief Financial Officer, Canaccord Genuity Growth II Corp., Vice President Finance, Canaccord Genuity Corp., (416) 867-6136
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