An anonymous director reports

LIFE & BANC SPLIT CORP. COMPLETES TREASURY OFFERING

Life & Banc Split Corp. has completed a treasury offering of Class A shares and preferred shares for aggregate gross proceeds of $65.9-million. The Class A shares and preferred shares will trade on the Toronto Stock Exchange (TSX) under the existing symbols LBS (Class A shares) and LBS.PR.A (preferred shares).

The Class A shares were offered at a price of $7.80 per Class A share for a distribution rate of 15.4 per cent on the issue price, and the preferred shares were offered at a price of $9.80 per preferred share for a yield to maturity of 8.1 per cent.

The syndicate of agents for the offering was led by RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and Scotiabank, and included Hampton Securities Ltd., Canaccord Genuity Corp., BMO Capital Markets, Raymond James Ltd., TD Securities Inc., iA Private Wealth Inc., Echelon Wealth Partners Inc., Manulife Securities Inc., Research Capital Corp. and Richardson Wealth Ltd.

The fund invests in a portfolio consisting of common shares of the six largest Canadian banks and the four major publicly traded Canadian life insurance companies:

• Bank of Montreal;
• National Bank of Canada;
• Canadian Imperial Bank of Commerce;
• iA Financial Corporation Inc.;
• Sun Life Financial Inc.;
• Great-West Lifeco Inc.;
• The Bank of Nova Scotia;
• Royal Bank of Canada;
• The Toronto-Dominion Bank;
• Manulife Financial Corp.

About Brompton Funds

Founded in 2000, Brompton is an experienced investment fund manager with income-focused investment solutions, including exchange-traded funds (ETFs) and other TSX-traded investment funds.

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