At the special meeting held Thursday, shareholders of Canaccord Financial Inc. overwhelmingly approved a share offering issued in connection with the acquisition of Genuity Capital Markets by Canaccord.

In March, the independent, full service financial firm announced plans to acquire 100% of Genuity for 26.5 million of its common shares and $30 million in cash.

“We are very pleased that 99.8% of votes cast were in support of Canaccord’s acquisition of Genuity, which will combine equity underwriting strength with advisory and restructuring leadership, leverage proven global distribution and consolidate leading independent, idea-driven research into one strong global platform that can serve the entire client lifecycle,” said Paul Reynolds, CEO and president of Canaccord,

Completion of the acquisition is subject to a number of conditions including the receipt of regulatory approvals. Canaccord anticipates that the acquisition will close in the next few business days.

Cnaccord has operations in two principal segments of the securities industry: wealth management and global capital markets.

IE