Canadian Banc Corp. Completes Overnight Offering of $62,700,000

Executive Summary

• Canadian Banc Corp. completed an overnight offering of preferred shares, raising $62.7 million in gross proceeds.
• The net proceeds will be used to build a portfolio of six major publicly‑traded Canadian banks.
• The preferred shares carry a cumulative floating‑rate dividend (prime + 1.50%, minimum 5.0%/maximum 8.0%) and are redeemable at the $10 issue price on or about December 1, 2028 (subject to extensions).

Key Details

• Offering Size: Total gross proceeds of $62.7 million; net proceeds earmarked for bank‑portfolio investments.
• Security Type: Preferred Shares listed on the Toronto Stock Exchange under ticker BK.PR.A.
• Lead Underwriter: National Bank Financial Inc.
• Dividend Terms: Cumulative preferential floating‑rate monthly cash dividend equal to Canadian prime rate + 1.50%, with a floor of 5.0% and a cap of 8.0% per annum, based on the original $10 issue price.
• Redemption/Termination: Payable at the original $10 issue price on or about December 1, 2028, with possible 5‑year extensions (historically exercised).
• Use of Proceeds: Investment in a diversified portfolio of six Canadian banks:
• Bank of Montreal
• Canadian Imperial Bank of Commerce
• Royal Bank of Canada
• Bank of Nova Scotia
• National Bank of Canada
• Toronto‑Dominion Bank
• Regulatory References: Investors directed to the prospectus supplement to the Company’s short‑form base shelf prospectus dated June 18, 2025; all documents available on SEDAR+.

Notable Quotes

(No executive quotes provided in the release.)