Clairvest announces a new normal course issuer bid for the Toronto Stock Exchange: CVG

TORONTO, March 02, 2020 (GLOBE NEWSWIRE) – Clairvest Group Inc. (TSX: CVG) announced today that the Toronto Stock Exchange has accepted a notice filed by Clairvest of its intention to make a new takeover offer in the normal course of business (OPRCNA). Clairvests NCIB current expires March 6, 2020. The notice provides that the Company may, during the 12-month period commencing March 7, 2020 and ending March 6, 2021, purchase on the Toronto Stock Exchange until ; a total of 759,984 common shares, or approximately 5% of the outstanding common shares. The average daily trading volume for the six months ending February 28, 2020 was 651 common shares. Daily purchases will be limited to 1,000 common shares, with the exception of block purchase exceptions. Any purchased share will be canceled. The price that the Company will pay for these shares will be the market price at the time of acquisition. The actual number of common shares that can be purchased and the timing of these purchases will be determined by the Company. A total of 3,591,532 common shares, at a cost of approximately $ 41 million, were purchased through prior offers from issuers in the normal course of business. The Company purchased 44,294 common shares on the Toronto Stock Exchange, out of an approved maximum repurchase amount of 760,747 under its current offering in the past twelve months at a weighted average price of $ 50.95 per month. ;action. As of February 28, 2020, 15,199,697 common shares of the Company were outstanding.

The Company believes, based on future price movements and other factors, that its outstanding common shares may represent an attractive investment and the desirable use of a portion of its available funds.

Clairvest also announced today that, as part of its public buyout offer, Clairvest has renewed its automatic share purchase plan (ASPP) with a designated broker to allow the purchase of its common shares as part of the OPRCNA, when in effect, at times when Clairvest not be active in the market due to applicable regulatory restrictions or blackout periods of internal transactions. Prior to the start of any period of internal trading prohibition, Clairvest may, but need not, instruct its designated broker to purchase common shares of Clairvests as part of the OPRCNA during the next blackout period as per the terms of the ESAP. These purchases will be determined by the broker, in its sole discretion, based on the parameters established by Clairvest before the start of the applicable blackout period in accordance with the terms of the ESAP and the applicable rules of the TSX. Outside of these blackout periods, the Common Shares may be purchased by Clairvest at its discretion under its takeover bid, once they become effective.

The ESAP will start on the effective date of the OPRCNA and will end on the first of the dates on which: (a) the maximum annual purchase limit under the OPRCNA has been reached; b) the NCIB expires; or (c) Clairvest terminates the ESAP in accordance with its terms. The ESAP is an automatic purchase plan for securities under applicable Canadian securities laws.

About Clairvest

Clairvests' mission is to partner with entrepreneurs to help them start businesses of strategic importance. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top-performing private equity firm with more than C $ 2.4 billion in capital under management. Clairvest invests its own capital and that of third parties through Clairvest Equity Partners limited partnerships in owner-managed companies. As part of the current management team, Clairvest has initiated investments in 51 companies from different platforms.

For further information, please contact:

Maria Shkolnik
Director, Investor Relations
Clairvest Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753

www.clairvest.com