CGI Enters Into Prime Brokerage Services Agreement

RNS Number : 4608Y

Canadian General Investments Ld

12 May 2021

 

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.D

LONDON STOCK EXCHANGE: CGI

May 12, 2021

Canadian General Investments, Limited Enters Into Prime Brokerage Services Agreement

TORONTO, CANADA - Canadian General Investments, Limited (CGI or the Company) announced today that it has entered into a prime brokerage services agreement with a Canadian chartered bank. Margin borrowing of $100 million under this new facility has been used to extinguish the $100 million borrowed under a one-year secured non-revolving term credit facility that was scheduled to mature on May 12, 2021. Proceeds will continue to be used on an ongoing basis as part of CGI's overall leverage strategy.

CGI has engaged in a leverage strategy since its first issuance of Class A preference shares in 1998 in an effort to enhance returns to common shareholders.

FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian General Investments, Limited

Jonathan A. Morgan

President and CEO

Phone: [phone]

Fax: [phone]

e-mail: [e-mail]

website: www.canadiangeneralinvestments.ca

 

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