/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES./
EDMONTON, AB, June 1, 2022
/CNW/ - Canadian Western Bank ("CWB") (TSX: CWB) today
announced that it has established a new at-the-market equity
program (the "ATM Program") that allows CWB to issue up to
$150 million worth of common shares
from treasury ("Common Shares") to the public from time to
time at the prevailing market price through the Toronto Stock
Exchange or any other marketplace on which the Common Shares are
listed, quoted or otherwise traded. The ATM Program was
re-established following the termination of the previous
at-the-market equity program as a result of CWB having sold most of
the Common Shares that were permitted to be sold under the previous
program. The volume and timing of distributions under the ATM
Program, if any, will be determined at CWB's sole discretion.
The ATM Program will be effective until July 1, 2024, unless terminated prior to such
date in accordance with its terms. The net proceeds to CWB from the
ATM Program, if any, will qualify as Common Equity Tier 1 capital
for CWB. Sales of Common Shares through the ATM Program will be
made pursuant to the terms of an equity distribution agreement
dated June 1, 2022 with National
Bank Financial Inc. and BMO Nesbitt Burns Inc., as agents.
CWB has filed a prospectus supplement dated June 1, 2022, to CWB's base shelf prospectus
dated June 1, 2022, with the
securities regulatory authorities in each of the provinces and
territories of Canada for the ATM
Program. You may get these documents and the equity distribution
agreement for free by visiting SEDAR at www.sedar.com.
Alternatively, any agent participating in the ATM Program will
arrange to send you the prospectus supplement, the base shelf
prospectus and the equity distribution agreement if you request it
by contacting, (i) National Bank Financial Inc., attn: Gavin Brancato, by email at
gavin.brancato@nbc.ca or by phone at (416) 869-7568 or
BMO Nesbitt Burns Inc., attn: James
Ehrensperger, by email at james.ehrensperger@bmo.com or
by phone at (416) 359-4351.
The Common Shares have not been, and will not be, registered in
the United States under the United
States Securities Act of 1933, as amended (the "Securities
Act"), or the securities laws of any state of the United States and may not be offered, sold
or delivered, directly or indirectly in the United States (as defined in Regulation S
under the Securities Act) absent registration under the Securities
Act or an applicable exemption from such registration requirements.
This press release does not constitute an offer to sell or a
solicitation to buy securities in the
United States or in any other jurisdiction where such offer
or solicitation would be unlawful.
About CWB Financial
Group
CWB is the only full-service financial institution in
Canada with a strategic focus to
meet the unique financial needs of businesses and their owners. We
provide nation-wide full-service business and personal banking,
specialized financing, comprehensive wealth management offerings,
and trust services. Our teams deliver a uniquely proactive and
differentiated level of service to clients in targeted industries
where we have deep expertise. Clients choose CWB for our highly
personalized service, specialized expertise, customized solutions
and faster response times.
As a public company on the Toronto Stock Exchange (TSX), CWB
trades under the symbols "CWB" (common shares), "CWB.PR.B" (Series
5 preferred shares) and "CWB.PR.D" (Series 9 preferred shares). We
are firmly committed to the responsible creation of value for all
our stakeholders and our approach to sustainability will support
our continued success. Learn more at www.cwb.com.
SOURCE CWB Financial Group