CG PARTNERS LIMITED PARTNERSHIP ANNOUNCES ACQUISITION OF SECURITIES OF CANACCORD GENUITY GROUP INC.

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO, Dec. 20, 2024 /CNW/ - CG Partners Limited Partnership (the "Partnership"), an independent employee share-ownership vehicle established to acquire and hold common shares and other securities of Canaccord Genuity Group Inc. (the "Company") on behalf of the Company's employees, announced that it has acquired 1,092,519 common shares of the Company ("Shares"). Prior to the acquisition, the Partnership owned 9,914,000 Shares, representing an approximate 9.7% ownership interest in the outstanding Shares. Following the acquisition, the Partnership owns an aggregate of 11,006,519 Shares, representing an approximate 10.7% ownership interest in the outstanding Shares.  

The acquisition was completed in connection with the second tranche closing (the "Second Tranche Closing") of the Partnership's initial funding transaction.  Pursuant to the Second Tranche Closing, certain senior employees of the Company participating in the Partnership ("Participants") subscribed for approximately $16 million of limited partnership units of the Partnership ("Units"), which amount was funded through the contribution of cash and/or Shares to the Partnership from the Participants' personal sources. The Shares received by the Partnership from Participants were valued at $11.1258 per Share. For filing purposes, the contribution of Shares in consideration for Units subscribed for will be reported as a disposition of Shares and acquisition of Units. The Partnership will use the cash proceeds received to acquire additional Shares, either through purchases from third parties on the open market or through private transactions.

The Partnership intends to hold the Shares for investment purposes consistent with its mandate to serve as a long-term ownership vehicle for senior employees of the Company.  From time to time, as participating employees leave the Partnership and new employees begin participating in the Partnership, the Partnership may acquire or dispose of Shares, and as such, the number of Shares held by the Partnership may increase or decrease from time to time. 

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

This press release is being issued pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report to be filed by the Partnership in connection with the transactions described herein will be available on the Company's SEDAR+ profile at www.sedarplus.ca.

The head office of the Company is located at 1133 Melville Street, Suite 1200, Vancouver, British Columbia, Canada, V7Y 1K8. The head office of the Partnership and its sole general partner is located at 40 Temperance Street, Suite 2100, Toronto, Ontario, Canada, M5H 0B4.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain "forward-looking information" as defined under applicable securities laws ("forward-looking statements"). These statements relate to future events or future performance and reflect Partnership's expectations, beliefs, plans, estimates, intentions and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts, including business and economic conditions and the Partnership's growth, results of operations, performance and business prospects and opportunities. Forward-looking statements include the Partnership's intentions to hold Shares for the long term and its intention to acquire Shares in the future.  Such forward-looking statements reflect Partnership's current beliefs and are based on information currently available to it. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend", "could" or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements.

In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions; the dynamic nature of the financial services industry; and the risks and uncertainties discussed from time to time in the Company's interim condensed and annual consolidated financial statements, its annual report and its annual information form ("AIF") filed on www.sedarplus.ca, as well as the factors discussed in the sections entitled "Risk Management" and "Risk Factors" in the AIF, which include market, liquidity, credit, operational, legal and regulatory risks.  The Partnership's ownership of Shares could change over time due to changes in the ownership of limited partnership units of the Partnership.

Although the forward-looking statements contained in this press release are based upon assumptions that the Partnership believes are reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release and should not be relied upon as representing the Partnership's views as of any date subsequent to the date of this press release. Except as may be required by applicable law, the Partnership does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, further developments or otherwise.

SOURCE CG Partners Limited Partnership

FOR FURTHER INFORMATION: Email: [email protected]