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Canaccord Genuity Growth II Corp. Announces Automatic Extension of Permitted Timeline and Cancelling of Special Meeting of Shareholders

·2 min read

TORONTO, Dec. 28, 2020 /CNW/ - CANACCORD GENUITY GROWTH II CORP. (NEO: CGGZ.UN) ("CGGCII" or the "Corporation") announced today that it has executed a confidential non-binding letter of intent in connection with a potential transaction, which would, if consummated, qualify as CGGCII's qualifying transaction. Accordingly, the Corporation will be permitted until April 5, 2021 (24 months following the closing of its initial public offering) to conclude its qualifying transaction. As a result of the automatic extension of the Corporation's permitted timeline, the special meeting of Class A Restricted Voting Shareholders that was scheduled to be held on January 4, 2021 has been cancelled.

It is the Corporation's intention to announce whether it intends to proceed with the transaction and, if so, to provide deal terms during the months of January 2021 or February 2021, subject to successful completion of due diligence and negotiation of a definitive agreement with respect to a qualifying transaction. There can be no assurance that a transaction will be announced or, if announced, that the transaction will be completed.

About Canaccord Genuity Growth II Corp.
Canaccord Genuity Growth II Corp. is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting a qualifying transaction within a specified period of time. For more information regarding the Corporation's business purpose and qualifying transaction targets, see the Corporation's most recent annual information form, financial statements, management's discussion & analysis and other continuous disclosure documents periodically filed on SEDAR.

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. 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. 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 Growth II Corp.

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View original content: http://www.newswire.ca/en/releases/archive/December2020/28/c5315.html