CI Financial establishes automatic securities purchase plan
TORONTO (October 16, 2018) – CI Financial Corp. (“CI”) disclosed today that in connection with its previously announced normal course issuer bid on June 14, 2018 (the “NCIB”), it has entered into an automatic share purchase plan (the “ASPP”) with Canaccord Genuity Corp. (“Canaccord”) to allow for the purchase of common shares under the NCIB, at times when CI would ordinarily not be permitted to purchase its common shares due to regulatory restrictions or self-imposed blackout periods.
Pursuant to the ASPP, prior to entering into a blackout period, CI may, but is not required to, instruct Canaccord to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be determined by Canaccord in its sole discretion based on parameters established by CI prior to the blackout period in accordance with the rules of the Toronto Stock Exchange (the “TSX”), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be implemented effective October 16, 2018.
Outside of the pre-determined blackout periods, common shares may be purchased under the NCIB based on the discretion of CI’s management, in compliance with TSX rules and applicable securities laws.
The NCIB commenced on June 18, 2018 and will terminate on June 17, 2019 (or such earlier date as CI may complete its maximum purchases pursuant to the NCIB). All repurchases made under the ASPP will be included in computing the number of common shares purchased under the NCIB.
About CI Financial Corp.
CI Financial Corp. (TSX: CIX) is an independent Canadian company offering global asset management and wealth management advisory services. Its primary operating businesses are CI Investments Inc., Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, Grant Samuel Funds Management Pty Ltd. of Australia, First Asset Investment Management Inc., and BBS Securities Inc. Further information is available at www.cifinancial.com.
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CI Financial Corp.
Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. Although the FLS contained herein are based upon what CI believes to be reasonable assumptions, it cannot be assured that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
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