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TORONTO, July 08, 2026 (GLOBE NEWSWIRE) -- (TSX: PIC.PR.A) -- Premium Income Corporation (the “Fund”) is pleased to announce that it has completed the previously announced treasury offering of 4,300,000 preferred shares (the “Preferred Shares”) for gross proceeds of $70,090,000. The Preferred Shares will trade on the Toronto Stock Exchange (the “TSX”) under the existing symbol PIC.PR.A. The Preferred Shares were offered at a price of $16.30 per Preferred Share.

The Fund invests in a portfolio consisting principally of direct and/or indirect investments in common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the “Banks”) and may 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 Mulvihill Capital Management Inc. (the “Manager”), the manager and investment manager of the Fund).

The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.10625 ($1.275 per annum) per Preferred Share representing a yield of 8.50% on the original issue price of $15.00. The syndicate of agents for the offering was led by National Bank Financial Inc.

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit www.mulvihill.com.