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 $27.9-million. The Class A shares and preferred shares will trade on the Toronto Stock Exchange under the existing symbols LBS (Class A shares) and LBS.PR.A (preferred shares).

The Class A shares were offered at a price of $7.65 per Class A share for a distribution rate of 15.7 per cent on the issue price, and the preferred shares were offered at a price of $10 per preferred share for a yield to maturity of 7.4 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 Wealth Inc., Research Capital Corp., Richardson Wealth Ltd. and Wellington-Altus Private Wealth Inc.

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.

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 Toronto Stock Exchange-traded investment funds.

Note: yield to maturity for the preferred share is based on maturity date of Oct. 30, 2028.

Returns are for the periods ended March 31, 2024, and are unaudited. Inception date Oct. 17, 2006. The associated table shows the fund's compound return on a Class A shares and preferred share for each period indicated. Past performance does not necessarily indicate how the fund will perform in the future. The information shown is based on the NAV (net asset value) per Class A share and the redemption price per preferred share, and assumes that distributions made by the fund on the Class A shares and preferred shares in the periods shown were reinvested (at the NAV per Class A share or redemption price per preferred share) in additional Class A shares or preferred shares of the fund, as applicable.

We seek Safe Harbor.