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Canaccord Genuity Group Inc. Announces Private Placement
Canaccord Genuity Group Inc. Announces Private Placement Canaccord Genuity Group I...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces 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 Private Placement\nCanada NewsWire\nTORONTO, June 17, 2016\n\n\n\n\n\n\nTORONTO, June 17, 2016 /CNW/ - Canaccord Genuity Group Inc. (the \"Company\") (TSX: CF) is pleased to announce that it has completed the first closing of its previously announced non-brokered private placement (\"Private Placement\").  In the first closing, the Company issued a total of 6,346,869 units (each, a \"Unit\") at a price of C$4.17 per Unit for aggregate proceeds to the Company of C$26,466,444.  \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 the period from June 17, 2019, to December 17, 2019.  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 three years, with one-third of the Common Shares issued to each purchaser becoming freely tradeable on each of June 17, 2017, 2018 and 2019.\n\nThe Private Placement is subject to a maximum size of 6,876,824 Units and the Company anticipates completing up to the maximum size in one or more additional closings.\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 buildi...