An anonymous director reports

LIFE & BANC SPLIT CORP. COMPLETES PREFERRED SHARE OFFERING

Life & Banc Split Corp. has completed a treasury offering of preferred shares for gross proceeds of approximately $76.4-million. The preferred shares will trade on the Toronto Stock Exchange under the existing symbol LBS.PR.A.

The preferred shares were offered at a price of $10.50 per preferred share to yield 6.9 per cent. The syndicate of agents for the offering was led by RBC Capital Markets, CIBC Capital Markets, National Bank Financial Inc. and Scotiabank and included Hampton Securities Ltd., Canaccord Genuity Corp., BMO Capital Markets, Raymond James Ltd., TD Securities Inc., iA Private Wealth Inc., CI Investment Services Inc., Manulife Wealth Inc., Research Capital Corp., Ventum Financial Corp. and Wellington-Altus Private Wealth Inc.

The fund invests on an approximately equally weighted basis in a portfolio consisting of common shares of the six-largest Canadian banks and the four major publicly traded Canadian life insurance companies.

Bank of Montreal                      Great-West Lifeco Inc.    
National Bank of Canada               Bank of Nova Scotia    
Canadian Imperial Bank of Commerce    Royal Bank of Canada     
iA Financial Corp. Inc.               Toronto-Dominion Bank   
Sun Life Financial Inc.               Manulife Financial Corp.

We seek Safe Harbor.