TORONTO, April 1, 2021 /CNW/ - CANACCORD GENUITY GROWTH
II CORP. (TSX: CGGZ.UN) (NEO: CGGZ.UN) (the
"Corporation") announced today that, following receipt of
approval by the holders of its class A restricted voting shares,
the board of directors has approved that, effective April 5, 2021, the date by which the Corporation
has to consummate its qualifying transaction will be extended from
April 5, 2021 to May 31, 2021 (the "Extension").
In connection with the Extension, the Corporation will redeem
approximately 13.8 million class A restricted voting units that
have been deposited for redemption in connection therewith, at a
redemption price of approximately $3.03 per unit for a gross amount of
approximately $41.7 million. As
previously announced, the Corporation expects its proposed merger
with Taiga Motors Inc. to close during the week of April 19, 2021.
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 an acquisition of one or more businesses or assets, by
way of a merger, amalgamation, arrangement, share exchange, asset
acquisition, share purchase, reorganization, or any other similar
business combination involving the Corporation that will qualify as
its "qualifying transaction". For more information regarding the
Corporation, 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.