Canaccord Genuity Group Inc. announced that it has entered into a binding agreement with two institutional investors for non-brokered private placement of convertible unsecured senior subordinated debentures for gross proceeds of CAD 110 million on March 7, 2024. The closing of the private placement is expected to occur on or about March 15, 2024. The debentures will bear interest at a rate of 7.75% per annum, payable semi-annually on the last day of June and December each year commencing June 30, 2024.

The debentures will be convertible at the holder's option into common shares, at a conversion price of CAD 9.68 per common share. The debentures will mature five years from the date of issue and may be redeemed by the company in certain circumstances, on or after the third anniversary of the issue date.