REG-Canaccord Financial Inc.: Acquisition(s)

Canaccord Financial Inc. shareholders overwhelmingly approve acquisition of
Genuity Capital Markets

TORONTO, April 22 /CNW/ - Canaccord Financial Inc. ("Canaccord", TSX: CF,
AIM: CF.) is pleased to announce that at the special meeting held earlier
today its shareholders overwhelmingly approved the issuance of 26.5 million
common shares to be issued in connection with the acquisition by Canaccord of
Genuity Capital Markets ("Genuity").
"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," noted
Paul Reynolds, CEO and President of Canaccord, "I would like to thank our
shareholders for their confidence in the future of the combined entity."
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.

ABOUT CANACCORD ADAMS:

Canaccord Adams is a leading independent financial services firm
committed to fostering the entrepreneurial economy by bringing corporate and
institutional clients a unique perspective on global investment opportunities.
With operations in research, sales and trading, and investment banking, our
250 professionals seek out emerging opportunities in our key sectors - Mining
and Metals, Energy, Technology, Life Sciences, Consumer, Real Estate,
Sustainability and Infrastructure. Located in ten offices internationally, our
experienced team generates focused, actionable ideas that identify opportunity
and facilitate growth. Canaccord Adams, the international capital markets
division of the Canaccord group, has operations in Toronto, London, Edinburgh,
Boston, Vancouver, New York, Calgary, San Francisco, Houston and Barbados.
In Canada, Canaccord Adams is a division of Canaccord Financial Ltd.
Canaccord Adams Limited operates in the United Kingdom and Canaccord Adams
Inc. operates in the United States. These companies are all part of the
corporate group headed by Canaccord Financial Inc.
More information is available at www.canaccordadams.com.

ABOUT CANACCORD FINANCIAL INC.:

Through its principal subsidiaries, Canaccord Financial Inc. is a leading
independent, full-service financial services firm, with operations in two
principal segments of the securities industry: wealth management and global
capital markets. Since its establishment in 1950, Canaccord has been driven by
an unwavering commitment to building lasting client relationships. We achieve
this by generating value for our individual, institutional and corporate
clients through comprehensive investment solutions, brokerage services and
investment banking services. Canaccord has 37 offices worldwide, including 29
Wealth Management offices located across Canada. Canaccord Adams, the
international capital markets division, operates in the U.S., U.K., Canada and
Barbados.
Canaccord Financial Inc. is publicly traded under the symbol CF on the
TSX and the symbol CF. on AIM, a market operated by the London Stock Exchange.

ABOUT GENUITY CAPITAL MARKETS:

Genuity Capital Markets is Canada's leading partner-owned investment
bank. Genuity was formed in 2005 by a group of principals who are among the
most experienced in the industry and have helped shape the Canadian capital
markets over the last 25 years. They have led many of the largest and most
complex merger & acquisition, restructuring and financing transactions in
Canada. Genuity provides clients with corporate finance, mergers &
acquisitions, restructuring, sales & trading and research services with senior
level attention, creative ideas and effective solutions leveraged by
longstanding relationships and astute market insight. Genuity has offices in
Toronto, Montreal, Vancouver, Montreal, New York and Boston.

CAUTION REGARDING FORWARD LOOKING STATEMENTS:

This document may contain certain forward-looking statements. These
statements relate to future events or future performance and reflect
management's expectations or beliefs regarding future events including
business and economic conditions and Canaccord's growth, results of
operations, performance and business prospects and opportunities. Such
forward-looking statements reflect management's current beliefs and are based
on information currently available to management. In some cases,
forward-looking statements can be identified by terminology such as "may",
"will", "should", "expect", "plan", "anticipate", "believe", "estimate",
"predict", "potential", "continue", "target", "intend" or the negative of
these terms or other comparable terminology. By their very nature,
forward-looking statements involve inherent risks and uncertainties, both
general and specific, and a number of factors could cause actual events or
results to differ materially from the results discussed in the forward-looking
statements. In evaluating these statements, readers should specifically
consider various factors that may cause actual results to differ materially
from any forward-looking statement. These factors include, but are not limited
to, market and general economic conditions, the nature of the financial
services industry and the risks and uncertainties detailed from time to time
in Canaccord's interim and annual consolidated financial statements and its
Annual Report and Annual Information Form filed on sedar.com. These
forward-looking statements are made as of the date of this document, and
Canaccord assumes no obligation to update or revise them to reflect new events
or circumstances.

Non-GAAP Measures

Certain non-GAAP measures are utilized by Canaccord as measures of
financial performance. Non-GAAP measures do not have any standardized meaning
prescribed by GAAP and are therefore unlikely to be comparable to similar
measures presented by other companies. Non- GAAP measures included are return
on average common equity (ROE), assets under administration (AUA), assets
under management (AUM), expenses as a % of revenue and book value per diluted
share. Canaccord's capital is represented by shareholders' equity and,
therefore, management uses ROE as a performance measure. AUA and AUM are
non-GAAP measures of client assets that are common to the wealth management
aspects of the private client services industry. AUA is the market value of
client assets administered by Canaccord from which Canaccord earns commissions
or fees. This measure includes funds held in client accounts as well as the
aggregate market value of long and short security positions. Canaccord's
method of calculating AUA may differ from the methods used by other companies
and therefore may not be comparable to other companies. Management uses this
measure to assess operational performance of the Wealth Management business
segment. AUM includes all assets managed on a discretionary basis under our
programs generally described as or known as the Complete Canaccord Investment
Counselling Program and Complete Canaccord Managed Accounts. Services provided
include the selection of investments and the provision of investment advice.
AUM are also administered by Canaccord and are included in AUA. Financial
statement items which exclude significant items are non-GAAP measures.
Significant items include the asset backed commercial paper (ABCP) fair value
adjustment, additional accrual for client relief programs, fair value
adjustment of ABCP purchased by the Company under a client relief program,
impairment of goodwill and intangibles and restructuring costs

For further information: North America Media: Scott Davidson, Managing
Director, Global Head of Marketing & Communications, Phone: (416) 869-3875,
email: scott.davidson(at)Canaccord.com; Genuity inquiries: David Kassie,
Chairman and CEO, Genuity Capital Markets, Phone: (416) 687-5323, email:
david.kassie(at)genuitycm.com; For Canaccord Financial investor relations
inquiries contact: Joy Fenney, Vice President, Investor Relations &
Communications, Phone: (416) 869-3515, email: joy.fenney(at)Canaccord.com;
Canaccord Financial Inc. Nominated Adviser and Broker: Marc Milmo or Jonny
Franklin-Adams, Fox-Pitt, Kelton Limited, Phone: +44 (0) 207 065 2000, email:
marc.milmo(at)fpk.com; London Media: Bobby Morse or Ben Romney, Buchanan
Communications (London), Phone: +44 (0) 207 466 5000, email:
bobbym(at)buchanan.uk.com
(CF., CF)

END