TORONTO, March 05, 2026 (GLOBE NEWSWIRE) -- (TSX:PIC.A, PIC.PR.A) Mulvihill Capital Management Inc. (the “Manager”), the manager of Premium Income Corporation (the “Fund”) announced today that the board of directors of the Manager and the Fund have approved a proposal (the “Proposal”) to change the Fund’s investment restrictions.

The purpose of the Proposal is to permit the Manager to have greater flexibility in managing the Fund’s portfolio and includes changing the Fund’s investment restrictions to permit the Fund to purchase and hold substantially all of its net assets in common shares of the Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia and The Toronto Dominion Bank directly and/or indirectly through investment in underlying investment funds including those managed by the Manager and to invest up to 10% of its net asset value in other securities such as equity securities, fixed income securities (including preferred shares) and investment funds that provide exposure to such securities (including investment funds managed by the Manager). The Fund’s other investment restrictions will remain unchanged.

A special meeting of the holders of class A shares and preferred shares (the “Shareholders”) of the Fund has been called and will be held on April 23, 2026 at 1 First Canadian Place, Suite 6300, 100 King Street West, Toronto, Ontario to consider and vote up on the Proposal. Further details of the Proposal will be outlined in a management information circular (the “Circular”) to be prepared and delivered to Shareholders. The Circular will also be available on SEDAR+ at www.sedarplus.ca and posted on the Fund’s website at www.mulvihill.com. Implementation of the Proposal is subject to required regulatory approvals.

For further information, please contact Investor Relations at 416.681.3966, toll free at 1-800-725-7172 or visit www.mulvihill.com.

YouwillusuallypaybrokeragefeestoyourdealerifyoupurchaseorsellsharesoftheFundontheTSX.If the sharesare purchased orsold on theTSX, investorsmay pay more than the currentnet asset value when buying and may receive less than current net asset value when selling them. There are ongoing fees and expenses associated with owning shares of the Fund. An investment fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in these documents available at www.sedarplus.ca. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.