Life & Banc Split Corp. Completes Treasury Offering

Life &Banc Split Corp. (the “Company”) (TSX: LBS, LBS.PR.A), which is managed by Brompton Funds Limited, completed a treasury offering of 1,568,650 class A shares and 3,290,727 preferred shares for aggregate gross proceeds of approximately $49.4 million (the “Offering”). The class A shares were offered at a price of $10.31 and the preferred shares were offered at a price of $10.09.

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

The Offering was made on a best efforts agency basis in each of the provinces and territories in Canada through a syndicate of investment dealers led by RBC Capital Markets, CIBC, Scotiabank, and TD Securities Inc., and including BMO Capital Markets, National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Ltd., and Mackie Research Capital Corporation.

Wildeboer Dellelce LLP acted for the agents in connection with the Offering with a team that included Ronald Schwass, Geoffrey Cher and Matthew Armstrong (corporate/securities) and Kevin Fritz (tax).