Canadian Life Companies Split Corp. At-The-Market Equity Program Renewed
May 06 2024 - 8:00AM
Canadian Life Companies Split Corp. (“the Company”) announces it
has renewed its at-the-market equity program (“ATM Program”) that
allows the Company to issue shares of the Company to the public
from time to time at the Company’s discretion, effective until June
1, 2026, unless terminated prior to such date by the Company. This
ATM Program replaces the prior program established in March 2022
that has terminated. Any Class A Shares or Preferred Shares sold in
the ATM Program will be sold through the Toronto Stock Exchange
(the “TSX”) or any other marketplace in Canada on which the Class A
Shares and Preferred Shares are listed, quoted or otherwise traded
at the prevailing market price at the time of sale. Sales of Class
A Shares and Preferred Shares through the ATM Program will be made
pursuant to the terms of an equity distribution agreement dated May
3, 2024 with National Bank Financial Inc. (the “Agent”).
Sales of Class A Shares and Preferred Shares
will be made by way of “at-the-market distributions” as defined in
National Instrument 44-102 Shelf Distributions on the TSX or on any
marketplace for the Class A Shares and Preferred Shares in Canada.
Since the Class A Shares and Preferred Shares will be distributed
at the prevailing market prices at the time of the sale, prices may
vary among purchasers during the period of distribution. The ATM
Program is being offered pursuant to a prospectus supplement dated
May 3, 2024 to the Company’s short form base shelf prospectus dated
May 1, 2024. The maximum gross proceeds from the issuance of the
shares will be $70,000,000. Copies of the prospectus supplement and
the short form base shelf prospectus may be obtained from your
registered financial advisor using the contact information for such
advisor, or from representatives of the Agent and are available on
SEDAR at www.sedarplus.com.
The volume and timing of distributions under the
ATM Program, if any, will be determined at the Company’s sole
discretion. The Company intends to use the proceeds from the ATM
Program in accordance with the investment objectives and investment
strategies of the Company, subject to the investment restrictions
of the Company.
The Company invests in an actively managed
portfolio of companies which primarily includes four publicly
traded Canadian life insurance companies as follows: Great‐West
Lifeco Inc., Industrial Alliance Insurance & Financial Services
Inc., Manulife Financial Corporation and Sun Life Financial
Inc.
Certain statements included in this news release
constitute forward-looking statements, including, but not limited
to, those identified by the expressions “expect”, “intend”, “will”
and similar expressions to the extent they relate to the Company.
The forward-looking statements are not historical facts but reflect
the Company’s current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. Although the
Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The
Company undertakes no obligation to update publicly or otherwise
revise any forward-looking statement or information whether as a
result of new information, future events or other such factors
which affect this information, except as required by law.
Commissions, trailing commissions, management fees and expenses all
may be associated with mutual fund investments. Investors should
read the prospectus before investing. Mutual funds are not
guaranteed, their values change frequently, and past performance
may not be repeated. Please read the Company’s publicly filed
documents which are available at www.sedarplus.com.
Investor Relations: 1-877-478-2372Local:
416-304-4443 www.lifesplit.com info@quadravest.com
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