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TORONTO, Sept. 25, 2023 /CNW/ – Canaccord Genuity G Ventures Corp. (NEO: CGGV.UN) (the “Company“) introduced at the moment that its board of administrators has decided that the Company will likely be wound-up in accordance with its articles and the insurance policies of Cboe Canada, the brand new enterprise identify of the NEO Trade (the “Trade“), and accordingly, that the Company’s Class A restricted voting models will likely be robotically redeemed on or about October 5, 2023. The Company’s board of administrators has decided that it’s in one of the best pursuits of the Company and its shareholders to be wound-up as they don’t consider that the Company will be capable to obtain the regulatory approvals required to increase the Company’s permitted timeline to be able to full the proposed qualifying transaction with Mount Logan Capital Inc. Accordingly, the Company is not going to search an extension to its permitted timeline and the particular assembly of shareholders scheduled for October 19, 2023 will likely be cancelled.
The redemption quantity per Class A restricted voting unit will likely be calculated in accordance with the Company’s articles. Fee of the redemption quantity will represent the Company’s remaining cost in respect of the liquidation of the escrow account that holds the proceeds of the Company’s preliminary public providing. There will likely be no distributions from the escrow account with respect to the Company’s Class B shares or the warrants held by the Company’s founders, which can terminate in accordance with their phrases. The Company’s Class A restricted voting models will likely be delisted from the Trade in reference to the redemption.
Canaccord Genuity G Ventures Corp. is a growth-focused particular function acquisition company integrated beneath the legal guidelines of the Province of Ontario for the aim of effecting a qualifying transaction inside a specified time frame.
This press launch could comprise forward-looking data inside the which means of relevant securities laws, which displays the Company’s present expectations relating to future occasions. The phrases “will”, “expects”, “intends” and comparable expressions are sometimes supposed to establish forward-looking data, though not all forward-looking data incorporates these figuring out phrases. Particular forward-looking data contained on this press launch consists of statements with respect to the Company’s winding-up and the per unit quantity accessible in respect of the redemption of the Class A restricted voting models. Ahead-looking data is predicated on plenty of assumptions and is topic to plenty of dangers and uncertainties, lots of that are past the Company’s management, that might trigger precise outcomes and occasions to vary materially from these which can be disclosed in or implied by such forward-looking data. Readers are cautioned that the foregoing checklist of things isn’t exhaustive. The Company doesn’t undertake any obligation to replace such forward-looking data, whether or not because of new data, future occasions or in any other case, besides as expressly required by relevant regulation.
SOURCE Canaccord Genuity G Ventures Corp
For additional data: Canaccord Genuity G Ventures Corp., Mr. Michael Shuh, Chief Government Officer, Canaccord Genuity G Ventures Corp., 416-869-7368.