Life & Banc Split Corp. Announces Successful Preferred Share Offering

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TORONTO, Oct. 18, 2023 (GLOBE NEWSWIRE) -- (TSX: LBS, LBS.PR.A) Life & Banc Split Banc Corp. (the “Company”) is pleased to announce a successful treasury offering of preferred shares (“Preferred Shares”). Gross proceeds of the offering are expected to be approximately $94 million. The offering is expected to close on or about October 31, 2023 and is subject to certain closing conditions. The Company has granted the Agents (as defined below) an over-allotment option, exercisable for 30 days following the closing date of the offering, to purchase additional Preferred Shares up to such number as is equal to 15% of the number of Preferred Shares issued at the closing of the offering.

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