Canaccord Financial Completes Offering

On June 23, 2011, Canaccord Financial Inc. (“Canaccord”) completed a bought deal offering of 4,000,000 Cumulative 5-Year Rate Reset First Preferred Shares, Series A (the “Series A Preferred Shares”) at a purchase price of $25.00 per Series A Preferred Share for aggregate gross proceeds of $100 million. Canaccord sold an additional 540,000 Series A Preferred Shares for aggregate gross proceeds of $13.5 million upon the exercise by the underwriters of an over-allotment option, which was completed on July 7, 2011. The Series A Preferred Shares are listed for trading on the Toronto Stock Exchange.

The Series A Preferred Shares were sold to a syndicate of underwriters co-led by CIBC World Markets Inc. and Canaccord Genuity Corp. that included BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd., HSBC Securities (Canada) Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Cormark Securities Inc., Desjardins Securities Inc., Dundee Securities Ltd., Haywood Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated.

Canaccord was represented by in-house counsel Martin MacLachlan, General Counsel and Senior Vice-President, Legal Affairs and Julia Gray, Associate General Counsel and Vice-President, Legal Affairs, and by Goodmans LLP led by Stephen Pincus, with John Connon, Kirk Rauliuk and Rob Kallio (corporate/securities) and Jon Northup and Mark Biderman (tax).

The underwriters were represented by Torys LLP led by Jamie Scarlett, with Alison Harnick and Thomas Miller (corporate/securities) and Andrew Wong (tax).


Alison Harnick Stephen N. Pincus Mark Biderman Martin L. MacLachlan Jon Northup Thomas Miller Robert Kallio Kirk Rauliuk Andrew Wong