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TORONTO, Sept. 25, 2023 /CNW/ - Canaccord Genuity G Ventures Corp. (NEO: CGGV.UN) (the "Corporation") announced today that its board of directors has determined that the Corporation will be wound-up in accordance with its articles and the policies of Cboe Canada, the new business name of the NEO Exchange (the "Exchange"), and accordingly, that the Corporation's Class A restricted voting units will be automatically redeemed on or about October 5, 2023. The Corporation's board of directors has determined that it is in the best interests of the Corporation and its shareholders to be wound-up as they do not believe that the Corporation will be able to receive the regulatory approvals required to extend the Corporation's permitted timeline in order to complete the proposed qualifying transaction with Mount Logan Capital Inc. Accordingly, the Corporation will not seek an extension to its permitted timeline and the special meeting of shareholders scheduled for October 19, 2023 will be cancelled.

The redemption amount per Class A restricted voting unit will be calculated in accordance with the Corporation's articles. Payment of the redemption amount will constitute the Corporation's final payment in respect of the liquidation of the escrow account that holds the proceeds of the Corporation's initial public offering. There will be no distributions from the escrow account with respect to the Corporation's Class B shares or the warrants held by the Corporation's founders, which will terminate in accordance with their terms. The Corporation's Class A restricted voting units will be delisted from the Exchange in connection with the redemption.

About Canaccord Genuity G Ventures Corp.

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

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events. The words "will", "expects", "intends" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specific forward-looking information contained in this press release includes statements with respect to the Corporation's winding-up and the per unit amount available in respect of the redemption of the Class A restricted voting units. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Readers are cautioned that the foregoing list of factors is not exhaustive. The Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Canaccord Genuity G Ventures Corp

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