TORONTO, ONTARIO--(Marketwired - June 4, 2014) - Canadian Life Companies Split Corp. (the "Company") announces all LFE.WT.B 2014 warrants were exercised for total gross proceeds of $97.9 million bringing the Company's net assets to approximately $229.1 million.
For every warrant exercised, holders received one Preferred Share and one Class A Share of the Company. The warrants expired on June 2, 2014. The proceeds from the warrant exercise are being used by the Company to invest in a portfolio of four publicly traded Canadian life insurance companies as follows: Great-West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.