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Canaccord Genuity closes private placement

Canaccord GenuityGroup Inc. completed the finalclosing of its nonbrokered privateplacement.

The company issued an aggregate of 6,876,824 units at a priceof C$4.17 per unit in a series of three closings.

Each unit consists of 1 common shareof the company and 0.5 of a common share purchase warrant. Each whole warrant allowsthe holder to acquire a common share at an exercise price of C$4.99 for aperiod of six months following the third anniversary of closing.

Warrants will not be listed and will not be transferable. Commonshares issued are subject to a hold period of up to three years, with one-thirdof the shares becoming freely tradable on each anniversary of the closing date.

Proceeds of the private placement willbe used to fund Canaccord Genuity's independent employee benefits trusts.