CANACCORD GENUITY G VENTURES CORP. ANNOUNCES COMPLETION OF PREVIOUSLY ANNOUNCED REDEMPTION OF CLASS A RESTRICTED VOTING UNITS

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TORONTO, Oct. 6, 2023 /CNW/ - Canaccord Genuity G Ventures Corp. CGGV (the "Company") announced today that the previously announced automatic redemption (the "Redemption") of the Company's class A restricted voting units (the "Class A Restricted Voting Units"), each comprised of one Class A restricted voting share (each a "Class A Restricted Voting Share") and one-half of one warrant (a "Warrant"), was completed today.

Each Class A Restricted Voting Unit was redeemed for approximately $3.08 (the "Redemption Amount") before taking withholding taxes into account. Each one-half of one Warrant forming part of a Class A Restricted Voting Unit was redeemed for $0.03, and the remainder of the Redemption Amount for such Class A Restricted Voting Unit was paid in respect of the Class A Restricted Voting Share. Payment of the Redemption Amount (net of any applicable withholding taxes) constitutes the Company's final payment in respect of the liquidation of the escrow account that holds the proceeds of the Company's initial public offering (the "IPO"), which closed on July 23, 2021. Please refer to the Company's long form prospectus dated July 13, 2021 filed in connection with the IPO for additional information regarding certain Canadian federal income tax considerations related to the Class A Restricted Voting Units and redemptions thereof. Securityholders should consult their own tax advisors with respect to applicable income tax consequences of the Redemption.

The Company's Class A Restricted Voting Units were delisted from Cboe Canada, the new business name of the NEO Exchange, effective at the close of business today and the Company intends to apply to cease to be a reporting issuer in Canada.

Canaccord Genuity G Ventures Corp. is a growth-focused special purpose acquisition corporation that was incorporated under the laws of the Province of Ontario for the purpose of effecting a qualifying transaction within a specified period of time.

SOURCE Canaccord Genuity G Ventures Corp