TORONTO, May 06, 2024 — Canadian Life Companies Split Corp. announces it has renewed its at-the-market equity program that allows the Company to issue shares of the Company to the public from time to time at the Company’s discretion, effective until June 1, 2026, unless terminated prior to such date by the Company. This ATM Program replaces the prior program established in March 2022 that has terminated.
Sales of Class A Shares and Preferred 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 Class A Shares and Preferred Shares in Canada. Since the Class A Shares and Preferred 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 volume and timing of distributions under the ATM Program, if any, will be determined at the Company’s sole discretion. The Company intends to use the proceeds from the ATM Program in accordance with the investment objectives and investment strategies of the Company, subject to the investment restrictions of the Company.
The Company invests in an actively managed portfolio of companies which primarily includes 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. Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events.