Toronto, March 15, 2021 – RF Capital Group Inc. (TSX: RCG) (the “Company”) today commented on an announcement by Canaccord Genuity Group Inc. (“Canaccord”) that it had privately made an unsolicited proposal for the purchase of some or all of the outstanding shares of the Company.
RF Capital advises shareholders that its Board declined to engage with Canaccord, having unanimously concluded that the proposal was not in the best interest of the Company’s shareholders, advisors, clients and other stakeholders in light of the considerable opportunities for Richardson Wealth in the fast-growing wealth management industry.
ABOUT RF CAPITAL GROUP INC.
RF Capital Group Inc. (RF Capital) currently operates through two business segments: Wealth Management and Operations Clearing; and a Corporate segment. Wealth Management consists of RF Capital’s wholly owned subsidiary Richardson Wealth. Richardson Wealth is one of the largest independent wealth management firms in Canada with $31.4 billion in assets under administration (as at February 28, 2021) and 19 offices across the country. The firm’s Advisor teams are focused exclusively on providing strategic wealth advice and innovative investment solutions customized for high net worth or ultra-high net worth families and entrepreneurs. Richardson Wealth is committed to maintaining exceptional fiduciary standards and has earned certification – determined annually – from the Center for Fiduciary Excellence for its Separately Managed and Portfolio Management Account platforms. Richardson Wealth has also been recognized as a Great Place to Work™ for the past three years. Operations Clearing, through RF Securities Clearing LP, provides carrying broker services to Richardson Wealth and other third parties, including trade execution, clearing, settlement, custody, and certain other middle- and back-office services, and other expenses associated with providing such services. RF Capital is listed on the Toronto Stock Exchange under the symbol “RCG”. For further information, please visit our corporate website at www.rfcapgroup.com and www.RichardsonWealth.com.
For Further Information Please Contact:
RF Capital Group Inc.
Rocco Colella, Managing Director, Investor Relations
Tel: (416) 941-0894; [email protected]