TORONTO, ONTARIO -- (Marketwired) -- 07/23/14

Financial 15 Split Corp. II (the "Company") is pleased to announce it has completed the overnight marketing of up to 1,700,000 Preferred Shares and up to 1,700,000 Class A Shares. Total proceeds of the offering are expected to be approximately $30.6 million. The Company has granted the dealers an overallotment of 255,000 units if exercised, bringing the total proceeds to $35.2 million.

The offering is being co-led by National Bank Financial Inc., CIBC, RBC Capital Markets and will also include BMO Capital Markets, GMP Securities L.P., Canaccord Genuity Corp. and Raymond James.

The sales period of the overnight offering has now ended.

The Preferred Shares will be offered at a price of $10.00 per Preferred Share to yield 5.25% on the issue price and the Class A Shares will be offered at a price of $8.00 per Class A Share to yield 15% on the issue price. The closing price on the TSX of each of the Preferred Shares and Class A Shares on July 22, 2014 was $10.18 and $8.46, respectively.

The net proceeds of the secondary offering will be used by the Company to invest in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows:

Bank of Montreal         National Bank of Canada    Bank of America Corp.
The Bank of Nova Scotia  Manulife Financial         Citigroup Inc.
                         Corporation
Canadian Imperial Bank   Sun Life Financial         Goldman Sachs Group
of Commerce              Services of Canada Inc.    Inc.
Royal Bank of Canada     Great-West Lifeco Inc.     JP Morgan Chase & Co.
The Toronto-Dominion     CI Financial Corp.         Wells Fargo & Co.
Bank

The Company's investment objectives are:

Preferred Shares:

i.  to provide holders of Preferred Shares with cumulative preferential
    monthly cash dividends currently in the amount of 5.25% annually, to be
    set by the Board of Directors annually subject to a minimum of 5.25%
    until 2019; and
ii. on or about the termination date of December 1, 2019 (subject to further
    5 year extensions thereafter), to pay the holders of the Preferred
    Shares $10 per Preferred Share.

Class A Shares:

i.  to provide holders of the Class A Shares with regular monthly cash
    distributions in an amount to be determined by the Board of Directors;
    and
ii. to permit holders to participate in all growth in the net asset value of
    the Company above $10 per Unit, by paying holders on or about the
    termination date of December 1, 2019 (subject to further 5 year
    extensions thereafter) such amounts as remain in the Company after
    paying $10 per Preferred Share.

The Company will today file an amended and restated preliminary short form prospectus, containing important information relating to the Class A Shares and the Preferred Shares, with securities commissions or similar authorities in all provinces of Canada. The amended and restated preliminary short form prospectus is still subject to completion or amendment. Copies of the amended and restated preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the underwriters listed above. Investors should read the prospectus before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Contacts:
Financial 15 Split Corp. II
Investor Relations
416-304-4443
Toll free at 1-877-4-Quadra (1-877-478-2372)
www.financial15.com