Life & Banc Split Corp. Announcing a Successful Donation Night | Aici


Company Life & Banc Split Corp.

They are not intended for distribution to US news services or for distribution in the United States.

TORONTO, Jan. 18, 2023 (GLOBE NEWSWIRE) — (TSX: LBS, LBS.PR.A) Life & Banc Split Corp. (the “Company”) is pleased to announce a successful overnight treasury offering of class A shares and preferred shares (“Class A Shares” and “Preference Shares”, respectively). The total proceeds from this offering are expected to be approximately $54.7 million. The offering is expected to close on or about January 25, 2023 and is subject to certain closing conditions. The Company has granted the agents (as defined below) an over-allotment option, exercisable 30 days after the closing date of the offering, to purchase Class A Shares and Preferred Shares up to a number equal to 15% of the number of Class A Shares and Preferred Shares issued at the closing of the offering .

The Class A Shares were offered at a price of $9.00 per Class A Share for a distribution ratio of 13.3% of the issue price, and the Preferred Shares were offered at a price of $9.85 per Preferred Share for a yield to maturity of 8.0%.(1) The Class A Shares and Preference Share offering prices have been determined not to reduce the net asset value of the Company’s newly calculated unit (“Unit”) (calculated as of January 12, 2023), as adjusted for dividends. and certain fees that must be collected before or after the donation is paid.

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 Limited, Canaccord Genuity Corp., BMO Capital Markets, Raymond James Ltd. , TD Securities Inc. , iA Private Wealth Inc., Echelon Wealth Partners Inc., Manulife Securities Incorporated, Research Capital Corporation, and Richardson Wealth Limited.

The Company invests in a portfolio (the “Portfolio”) consisting of the common shares of six of Canada’s largest banks and four of Canada’s largest publicly traded life insurance companies:

Company Manulife Financial Corporation

Bank of Montreal

Company Sun Life Financial Inc.

Toronto-Dominion Bank

iA Financial Corporation Inc.

National Bank of Canada

Royal Bank of Canada

Bank of Nova Scotia

Great-West Lifeco Inc.

Canadian Imperial Bank of Commerce

Over the past 10 years, the Class A Shares have delivered a return of 15.8% per annum based on net asset value (“NAV”) and the Preferred Shares have returned 5.2% per annum, as of December 31, 2022.(1)

About Brompton Funds

Founded in 2000, Brompton is an investment fund manager specializing in income-focused investment solutions including exchange-traded funds (ETFs) and other TSX-traded investment funds. For more information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll free at 1-866-642-6001), email info@bromptongroup.com or visit our website at www.bromptongroup. com.

(1)

See the performance table below. No cash distribution will be paid on Class A Shares if, after payment of the Company’s distribution, the net asset value per unit (comprising 1 Class A Share and 1 Preferred Share) is less than $15.00. The yield to maturity on the Preferred Shares is based on a maturity date of October 30, 2023.

A short form base shelf prospectus containing important detailed information about the securities being offered is filed with the securities commissions or similar authorities in each province and territory of Canada. Copies of the short form base shelf prospectus may be obtained from the syndicate member. The company intends to file a supplement to the short form base shelf prospectus, and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will be no sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the securities commissions or similar authorities in each province and territory of Canada.

You will generally pay a brokerage fee to your broker when you buy or sell the Company’s shares on the Toronto Stock Exchange or another Canadian trading system (the “exchange”). When shares are bought or sold on an exchange, investors may pay more than the current net asset value when buying the Company’s shares and may receive less than the net asset value when selling them.

There are ongoing costs and expenses associated with owning investment fund shares. An investment fund must prepare disclosure documents containing important information about the fund. You can find more information about the Company in its public filing available at www.sedar.com. The rates of return shown are historical annualized total returns that include changes in share price and the reinvestment of all distributions and do not take into account certain fees such as redemption fees or income taxes paid by any security holder that could reduce the return. Investment funds are not guaranteed, their values ​​are constantly changing and past performance may not be repeated.

Company Life & Banc Split Corp.
Compound Annual NAV Back to December 31, 2022

1-Year

3 years

5 years

10 years

SI

Class A Shares (TSX: LBS)

(19.3

%)

7.5

%

5.9

%

15.8

%

9.3

%

Preferred Shares (TSX: LBS.PR.A)

5.6

%

5.6

%

5.4

%

5.2

%

5.2

%

Life & Banc Split Corp. – Unit

(6.7

%)

6.7

%

5.7

%

9.8

%

6.9

%

Returns are for periods ending 31 December 2022 and are unaudited. Effective date October 17, 2006. The table shows the Company’s combined return per Class A share, Preferred Share and Unit for each period shown.

Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and other matters identified in public filings related to the Company, the Company’s future outlook and expected events or results and may include statements regarding the Company’s future financial performance. In some cases, forward-looking information can be identified by words such as “may”, “will need”, “should”, “expect”, “plan”, “predict”, “believe”, “intend”, “estimate”, “predict”, ” possible”, “continue” or other similar expressions relating to matters that are not historical facts. Actual results may differ from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities being offered are not registered under the US Securities Act of 1933, as amended, and will not be offered or sold in the United States absent registration or any applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities and there will not be any sale of such securities in any situation where such offer, solicitation or sale would be unlawful.



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