Canadian First Financial Group Inc. intends to sell the operating securities business of its wholly owned subsidiary Burgeonvest Securities Ltd. to CFFG’s largest shareholder, Burgeonvest Financial Corp.

Upon completion of the sale, CFFG, through Burgeonvest Securities, will continue to own 20 common shares of the Toronto Stock Exchange Inc. CFFG’s intention to sell Burgeonvest Securities to Burgeonvest Financial was originally announced on Sept. 29, 2000.

Following the transaction, Burgeonvest Securities will change its name to Canadian First Investments Inc. and that Burgeonvest Financial will continue to operate the securities business of Burgeonvest Securities under its current name, “Burgeonvest Securities Limited”.

Subject to receiving shareholder and other required regulatory approvals, the transaction is scheduled to close June 29.