/NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Nov. 1, 2018 /CNW/ - Canaccord Genuity Growth Corp. ("CGGC") (NEO: CGGC.UN) is pleased to announce that CGGC has closed its previously announced brokered institutional private placement of subscription receipts (each, a "Subscription Receipt") for gross proceeds of approximately US$85 million (the "Offering"). The Subscription Receipts were issued at a price of US$2.30 per Subscription Receipt in connection with the previously announced proposed business combination between CGGC and Columbia Care LLC (the "Business Combination"). The Offering was led by Canaccord Genuity Corp. and Cormark Securities Inc. (the "Agents").

The gross proceeds of the Offering (the "Escrowed Funds") have been deposited into escrow with Odyssey Trust Company (the "Escrow Agent") as escrow agent, pursuant to the terms of a subscription receipt agreement dated November 1, 2018 (the "Subscription Receipt Agreement") among the Company, the Escrow Agent and the Agents, pending satisfaction of the Escrow Release Conditions (as defined in the Subscription Receipts Agreement), which include that all conditions precedent to the closing of the Business Combination be satisfied or waived. Upon satisfaction of the Escrow Release Conditions, each Subscription Receipt will be exchanged, for no additional consideration, into one Class B share of CGGC.

About Canaccord Genuity Growth Corp.

Canaccord Genuity Growth Corp. is a newly organized special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purpose of effecting a qualifying transaction on the NEO Exchange 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 CGGC's current expectations regarding future events including the proposed Business Combination and Private Placement. 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 CGGC's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, failure to successfully negotiate the terms of the proposed transaction and enter into definitive documentation in respect thereof, failure to complete the Business Combination, inability to obtain requisite regulatory and shareholder approvals, changes in general economic, business and political conditions, changes in applicable laws, compliance with extensive government regulation, as well as the factors discussed under "Risk Factors" in the final prospectus of CGGC dated September 13, 2018, a copy of which is available on SEDAR at www.sedar.com. CGGC undertakes no 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.

The NEO Exchange does not accept responsibility for the adequacy or accuracy of this press release.

SOURCE Canaccord Genuity Growth Corp.

For further information: Canaccord Genuity Growth Corp., Michael Shuh, Chairman and Chief Executive Officer, (416) 869-7376

Related Links

https://www.canaccordgenuity.com

