Columbia Care LLC entered into letter of intent to acquire Canaccord Genuity Growth Corp. on October 17, 2018. Columbia Care LLC entered into a definitive agreement to acquire Canaccord Genuity Growth Corp. on November 21, 2018. Following the closing of transaction, it is expected that former holders of Columbia Care securities will hold approximately 91% stake in the resulting entity whereas remaining approximately 9% stake will be held by the security holders of Canaccord. In connection with the transaction, Canaccord issued subscription receipts in consideration of $85.1 million pursuant to a brokered institutional private placement of $35 million of Class B shares of Canaccord Genuity. Also, Canaccord will change its name to “Columbia Care Inc.” and warrants of Canaccord are to be listed for trading on the NEO Exchange Inc. Post transaction, Columbia Care’s current Executive Chairman, Michael Abbott, and its current Chief Executive Officer, Nicholas Vita, along with Columbia Care’s current management team, will continue to lead the business. Upon closing, the entity’s board of directors is expected to include: Michael Abbott, Nicholas Vita, Igor Gimelshtein, John Howard, James A.C. Kennedy, Jonathan P. May and David F. Solomon. The transaction is subject to the satisfaction or waiver of certain customary conditions, including, among other things, receipt of all required third party consents, regulatory approvals (including that of the NEO Exchange), anti-trust approval, all of the existing Canaccord Class A Shares and Canaccord Class B Shares outstanding immediately prior to the Closing shall have been converted into Common Shares, resignation of Canaccord’s Board, the completion of certain corporate reorganizations of Canaccord, Columbia Care and their respective subsidiaries, the amounts payable in respect of redemptions or dissent rights for the Canaccord’s Class A Restricted Voting Shares not exceeding CAD 7 million, in the aggregate and the approval of shareholders of Canaccord and holders of ownership interests in Columbia Care. The agreement constitutes Canaccord’s qualifying transaction and must be approved by at least two-thirds (66 2/3%) of the votes cast by Canaccord’s shareholders. The Boards of Directors of each of Canaccord and Columbia Care have unanimously approved the transaction. Canaccord’s shareholder’s meeting is scheduled on April 22, 2019. The Board of Canaccord Genuity Growth Corp. recommends the shareholders to vote in favor of the transaction. As of February 19, 2019, early termination notices has been granted by Federal Trade Commission. On March 1, 2019, the two conditions deleted precedent to the closing of the deal. The transaction is expected to be completed in the first quarter of 2019. As per the announcement made on January 14, 2019, transaction is expected to close by April 30, 2019. As per amendment filed on March 1, 2019, the transaction is expected to close from March 31, 2019 to April 30, 2019. As on April 22, 2019, the shareholders of Canaccord Genuity Growth approved the transaction. The Transaction is expected to close on April 26, 2019. As part of the Transaction, Canaccord will be renamed "Columbia Care Inc." and final approval of the NEO Exchange, the company will trade under the symbols "CCHW" and "CCHW.WT", respectively, on April 29, 2019. Jeff Glass and Norbert Knutel of Blake, Cassels & Graydon LLP and Thomas S. Levato of Goodwin Procter LLP acted as the legal advisors to Canaccord whereas Mihkel Voore, Mike Devereux, Colin Burn, Christian Vieira, Derek Lam and Brian Lynch, Dean Kraus, Lindsay Gwyer, Martin Langlois and Ron Ferguson of Stikeman Elliott LLP, Wes Sheumaker, Michael Voynich, Rob Ellis, Kyle Hunter, Karl Zeswitz, Frank Comparetto, Randy Buchanan, Paul Lang, Meredith O’Leary, Stephani Hildebrandt, Lucero Bello and Kyle Brown of Eversheds Sutherland (US) LLP and Ropes & Gray LLP acted as the legal advisors to Columbia Care on the transaction.