TORONTO, May 23, 2018 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it has
completed the overnight offering of 2,915,000 Preferred Shares and 2,915,000 Class A Shares of the Company. The total
proceeds of the offering were $68.1 million, bringing the Company’s net assets to approximately $253.0 million. The shares
will trade on the Toronto Stock Exchange under the existing symbols of BK.PR.A (Preferred Shares) and BK (Class A Shares).
The Preferred Shares were offered at a price of $10.00 per Preferred Share to yield 5% and the Class A Shares
were offered at a price of $13.35 per Class A Share to yield 10%.
The offering was co-led by National Bank Financial Inc., CIBC World Markets Inc., Scotia Capital Inc. and RBC
Capital Markets, and also included TD Securities Inc., BMO Capital Markets, Canaccord Genuity Corp., Industrial Alliance Securities
Inc., Echelon Wealth Partners, GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Mackie Research Capital
Corporation, and Manulife Securities Incorporated.
The net proceeds of the offering will be used by the Company to invest in a portfolio of six publicly traded
Canadian Banks as follows:
| Bank of Montreal |
Canadian Imperial Bank of Commerce |
Royal Bank of Canada |
| The Bank of Nova Scotia |
National Bank of Canada |
The Toronto-Dominion Bank |
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund
investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently
and past performance may not be repeated. Please read the Company’s publically filed documents which are available at www.sedar.com.
Investor Relations:
1-877-478-2372
Local: 416-304-4443
www.canadianbanc.com
info@quadravest.com
