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Canaccord Genuity Group Inc. Announces Closing of Private Placement
Canaccord Genuity Group Inc. Announces Closing of Private Placement Canaccord Genu...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces Closing of Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanaccord Genuity Group Inc. Announces Closing of Private Placement\nCanada NewsWire\nTORONTO, July 15, 2016\n\n\n\n\n\n\nTORONTO, July 15, 2016 /CNW/ - Canaccord Genuity Group Inc. (the \"Company\") (TSX: CF) is pleased to announce that it has completed the final closing of its previously announced non-brokered private placement (\"Private Placement\").  The Company issued an aggregate of 6,876,824 units (each, a \"Unit\") at a price of C$4.17 per Unit in a series of three closings.  \n\nEach Unit consists of one common share (\"Common Share\") of the Company and one-half of one Common Share purchase warrant (\"Warrant\").  Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of C$4.99 for a period of six months following the third anniversary of Closing.  Warrants will not be listed and will not be transferable.\n\nCommon Shares issued under the Private Placement are subject to a hold period of up to three years, with one-third of the Common Shares issued to each purchaser becoming freely tradeable on each anniversary of the closing date of the Private Placement.\n\nThe Company will use the proceeds of the Private Placement to fund the Company's independent employee benefits trusts, established under its long term incentive plan, which will purchase common shares in the market to cover grants of restricted share units to those employees who have participated in the Private Placement.\n\nABOUT CANACCORD GENUITY GROUP INC.:\n\nThrough its principal subsidiaries, the Company 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. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive i...