CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) announced today that, in connection with its previously announced consent and proxy solicitation (“Consent and Proxy Solicitation”) seeking approval of certain proposed amendments (“Proposed Amendments”) from (i) holders (the “2025 Debentureholders”) of its 3.759% Debentures due 2025 (the “2025 Debentures”) issued under the second supplemental indenture (the “2019 Second Series Supplement”) to the trust indenture dated as of July 22, 2019, and (ii) holders (the “2027 Debentureholders”) of its 3.904% Debentures due 2027 (the “2027 Debentures”) issued under the sixth supplemental indenture (the “2009 Sixth Series Supplement”) to the trust indenture dated as of December 16, 2009, the meeting of the 2025 Debentureholders and the meeting of the 2027 Debentureholders will be held in person on April 4, 2024 at 10:00 a.m. (Toronto time) and 10:30 a.m. (Toronto time), respectively, at 199 Bay Street, Suite 5300, Commerce Court West, Toronto, Ontario.

As previously announced, in order to approve the Proposed Amendments via written consent, not less than 66 2/3% of the aggregate unpaid principal amount of the 2025 Debentures or 2027 Debentures must have delivered consents in favour of the Proposed Amendments by 5:00 p.m. (Toronto time) on March 19, 2024 (the “Consent Deadline”). As of the Consent Deadline, sufficient proxies to achieve the required quorum, and sufficient proxies in favour of the Proposed Amendments to approve the Proposed Amendments, at each meeting had been received. Accordingly, the Corporation expects the Proposed Amendments to be approved at the meetings, in each case, subject to any proxies that are validly revoked or newly submitted prior to the applicable meeting.

The Proposed Amendments are further described in the Joint Consent and Proxy Solicitation Statement (the “Solicitation Statement”) dated March 6, 2024, available on CI Financial’s SEDAR+ profile at www.sedarplus.ca.

The Corporation has retained RBC Dominion Securities Inc. (“RBC”) as Solicitation Agent and Computershare Trust Company of Canada (“Computershare”) as Tabulation Agent in connection with the Consent and Proxy Solicitation and meetings. Questions concerning the meetings and the Consent and Proxy Solicitation, or requests for assistance in participating in the meetings or the Consent and Proxy Solicitation, should be directed to RBC by telephone at (416) 842-6311 or 1-877-381-2099 or by email at liability.management@rbccm.com.

This news release is neither a solicitation of consents or proxies nor an offer to purchase debentures or to sell any securities. The Consent and Proxy Solicitation is being made solely pursuant to the Solicitation Statement.

About CI Financial

CI Financial is a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia. Founded in 1965, CI Financial has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning, and a comprehensive product suite. CI Financial manages, advises on and administers approximately $465.9 billion in client assets (as at February 29, 2024). CI Financial operates in three segments:

• Asset Management, which includes CI Global Asset Management, which operates in Canada, and GSFM Funds Management, which operates in Australia.
• Canadian Wealth Management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, Northwood Family Office, Coriel Capital, CI Direct Investing and CI Investment Services.
• U.S. Wealth Management, which includes Corient Private Wealth, an integrated wealth management firm providing comprehensive solutions to ultra-high-net-worth and high-net-worth clients across the United States.

CI Financial is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX). To learn more, visit CI Financial’s website or LinkedIn page.

CI Global Asset Management is a registered business name of CI Investments Inc., a wholly owned subsidiary of CI Financial Corp.

Note Regarding Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information may relate to our future outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”, “strategy”, “intends”, “anticipates”, “does not anticipate”, “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. These statements include the expectation that quorum will be present at the meetings, and the expectation that the Proposed Amendments will be approved at the meetings of 2025 Debentureholders and 2027 Debentureholders.

Undue reliance should not be placed on forward-looking information. The forward-looking information in this press release is based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Further, forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward- looking information, including but not limited to, those described in this press release. The belief that the investment fund industry and wealth management industry will remain stable and that interest rates will remain relatively stable are material factors made in preparing the forward- looking information and management’s expectations contained in this press release and that may cause actual results to differ materially from the forward-looking information disclosed in this press release. In addition, factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, the impact of the coronavirus pandemic, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in CI Financial’s disclosure materials filed with applicable securities regulatory authorities from time to time. Additional information about the risks and uncertainties of the Corporation’s business and material risk factors or assumptions on which information contained in forward‐looking information is based is provided in the Corporation’s disclosure materials, including the Corporation’s most recently filed annual information form and any subsequently-filed interim management’s discussion and analysis, which are available under our profile on SEDAR+ at www.sedarplus.com. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date of this news release and is subject to change after such date. CI Financial disclaims any intention or obligation or undertaking to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240320433413/en/