TORONTO, May 07, 2026 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) is pleased to announce that Big Banc Split Corp. (the “Company”) (TSX: BNK, BNK.PR.A) has established an at-the-market equity program (“ATM Program”) that allows the Company to issue preferred shares (the “Preferred Shares”) and class A shares (the “Class A Shares” and together with the Preferred Shares, the “Shares”) of the Company having an aggregate market value of up to $25,000,000 and $25,000,000, respectively, to the public from time to time, at the Company’s discretion. Any Shares sold under the ATM Program will be sold through the Toronto Stock Exchange (the “TSX”) or any other marketplace in Canada on which the Shares are listed, quoted or otherwise traded at the prevailing market price at the time of sale.

The volume and timing of the distributions under the ATM Program, if any, will be determined at the Company’s sole discretion. The ATM Program will be effective until December 25, 2027, unless terminated prior to such date by the Company. The Company intends to use the proceeds from the ATM Program in accordance with the investment objectives and strategies of the Company to invest in an equally weighted portfolio of the equity securities of the publicly traded Canadian banks: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, The Bank of Nova Scotia and The Toronto-Dominion Bank. .

Sales of the Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated May 6, 2026 (the “Equity Distribution Agreement”) with National Bank Financial Inc. (the “Agent”).

Sales of the 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 Shares in Canada. Since the 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 6, 2026 to the Company’s short form base shelf prospectus dated November 25, 2025. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor or from representatives of the Agent and are available on SEDAR+ at www.sedarplus.ca.

The investment objectives for the Preferred Shares (TSX: BNK.PR.A) are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.07 per Preferred Share ($0.84 per annum or 8.4% per annum on the original issue price of $10.00 per Preferred Share) until November 30, 2026 and to return the original issue price of $10.00 to holders on the Maturity Date.

The investment objectives for the Class A Shares (TSX: BNK) are to provide their holders with regular monthly non-cumulative cash distributions initially in the amount of $0.12 per Class A Share ($1.44 per annum) and to provide holders with the opportunity for growth in the net asset value per Class A Share.

Purpose is the manager, portfolio manager and promoter of the Company.        

For further information, please visit our website at www.purposeinvest.com.

About Purpose Investments Inc.
Purpose Investments Inc. (“Purpose”) is the manager of the Fund. Purpose is an asset management company with more than $30 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For more information, please contact:
Keera Hart
Keera.Hart@earnscliffe.ca
905-580-1257

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment funds on the TSX or other market (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in the public filings available at www.sedarplus.ca. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions, and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.

Certain statements in this document may be forward-looking. Forward-looking statements ("FLS") are statements that are predictive in nature, depend on or refer to future events or conditions, or include words such as "may," "will," "should," "could," "expect," "anticipate," "intend," "plan," "believe," "estimate" or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are, by their nature, based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believes to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.