Canada Enterprise Emergency Funding Corporation

Canaccord Genuity acts as Sole Financial Advisor to Canada Enterprise Emergency Funding Corporation on a $310 million loan to GoodLife Fitness under the Large Employer Emergency Financing Facility

Canaccord Genuity is pleased to announce that on February 4, 2021, Canada Enterprise Emergency Funding Corporation (“CEEFC”) approved a $310 million loan to GoodLife Fitness Inc. under the Large Employer Emergency Financing Facility (“LEEFF”). Canaccord Genuity acted as sole financial advisor to CEEFC.

GoodLife Fitness (the “Company”) is the largest fitness club operator in Canada, operating more than 300 clubs across the country. Its services include cardio, yoga and strength classes, personal training, training bootcamps, and a variety of workout equipment. The Company operates under multiple banners, including GoodLife Fitness, Fit4Less, and EconoFitness.

CEEFC is a subsidiary of the Canadian Development Investment Corp (“CDEV”), a Federal Crown Corporation which has been mandated to implement the Government of Canada’s LEEFF program in cooperation with Innovation, Science and Economic Development Canada (“ISED”) and the Department of Finance. LEEFF loans provide bridge financing to Canada's largest employers whose needs during the pandemic are not being met through private market financing. It provides large Canadian employers with access to credit to preserve jobs and continue operations during this challenging period.