Canadian Life Companies Split Corp. Completes Overnight Offering
TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- Canadian Life Companies Split Corp. (“the Company”) is pleased to announce it has completed the overnight offering of Preferred Shares and Class A Shares of the Company. Total gross proceeds of the offering were $40.0 million, bringing the Company’s net assets to approximately $217.9 million.
The shares will begin trading on the Toronto Stock Exchange under the existing symbols of LFE.PR.B (Preferred Shares) and LFE (Class A Shares).
The Preferred Shares were offered at a price of $10.55 per Preferred Share to yield 6.64% and the Class A Shares were offered at a price of $6.35 per Class A Share to yield 18.90%.
The offering was led by National Bank Financial Inc.
The net proceeds of the offering will be used by the Company to invest in an actively managed portfolio primarily consisting of 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.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus supplement to the Company’s short form base shelf prospectus dated May 1, 2024 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: 1-877-478-2372
Local: 416-304-4443
www.lifesplit.com
info@quadravest.com
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