Canaccord Financial Completes $100M Offering

Canaccord Financial Inc. (“Canaccord”) completed a bought deal offering of 4,000,000 Cumulative 5-Year Rate Reset First Preferred Shares, Series C (the “Series C Preferred Shares”) at a purchase price of $25.00 per Series C Preferred Share, for aggregate gross proceeds of $100 million. The Series C Preferred Shares are listed for trading on the TSX. The Series C Preferred Shares were sold to a syndicate of underwriters led by CIBC, Canaccord Genuity Corp. and RBC Capital Markets, and included BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd., Raymond James Ltd., Cormark Securities Inc., Desjardins Securities Inc., Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated.

Canaccord was represented by in-house counsel Martin MacLachlan, General Counsel and Senior Vice-President, Legal Affairs, and Julia Gray, Associate General Counsel and Vice-President, Legal Affairs, and by Goodmans LLP led by Stephen Pincus, and that included John Connon, Kirk Rauliuk and Jamie van Diepen (corporate/securities) and Jon Northup and Mark Biderman (tax).

The underwriters were represented by Torys LLP with a team led by Jamie Scarlett, with Michael Pickersgill, Peter Bryce and Jessica Palter (corporate/securities) and Andrew Wong (tax).