Canadian Banc Corp. Announces TSX Acceptance of Normal Course Issuer Bid

Core Viewpoint - Canadian Banc Corp. has announced its intention to initiate a Normal Course Issuer Bid (NCIB) to repurchase its Preferred Shares and Class A Shares, starting June 2, 2025, and ending June 1, 2026 [1]. Group 1: NCIB Details - The company plans to buy up to 3,742,582 Preferred Shares and 3,778,760 Class A Shares, which represents 10% of the public float of 37,425,824 Preferred Shares and 37,787,604 Class A Shares [2]. - As of May 21, 2025, there were 37,448,395 Preferred Shares and 37,821,364 Class A Shares issued and outstanding [2]. - The company will limit its purchases to a maximum of 748,967 Preferred Shares and 756,427 Class A Shares in any 30-day period, equating to 2% of the issued and outstanding shares as of May 21, 2025 [2]. Group 2: Board's Perspective - The Board of Directors, advised by Quadravest Capital Management Inc., believes that the share repurchases are in the best interests of the company and represent a desirable use of its funds [3]. - All repurchased shares will be cancelled following the NCIB [3]. Group 3: Investment Portfolio - The company invests in a portfolio of six publicly traded Canadian banks, which include Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, and The Toronto-Dominion Bank [4].