Brompton Lifeco Split Corp.
TSX : LCS
TSX : LCS.PR.A

Brompton Lifeco Split Corp.

September 16, 2014 08:43 ET

Brompton Lifeco Split Corp. Completes Over-Allotment

TORONTO, ONTARIO--(Marketwired - Sept. 16, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Brompton Lifeco Split Corp. (the "Company") (TSX:LCS) (TSX:LCS.PR.A) is pleased to announce that it has completed the issuance of 84,000 class A shares and 84,000 preferred shares for gross proceeds of approximately $1.5 million. This issuance was pursuant to the exercise of the over-allotment option granted to the agents in connection with the Company's recently completed treasury offering. Following the exercise of the over-allotment option, total gross proceeds raised pursuant to this offering are approximately $51.6 million.

The Company invests in a portfolio, on an approximately equal weight basis, of common shares of Canada's four largest publicly-listed life insurance companies: Great-West Lifeco Inc., Industrial Alliance Insurance and Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.

The investment objectives of the class A shares are to provide holders with regular monthly cash distributions targeted to be $0.075 per class A share and to provide the opportunity for growth in net asset value per class A share.

The investment objectives of the preferred shares are to provide holders with fixed cumulative preferential cash distributions in the amount of $0.575 per annum, payable quarterly, and to return the original issue price to holders of preferred shares at the maturity date of the Company, currently April 29, 2019.

The syndicate of agents for the offering was led by RBC Capital Markets, CIBC and Scotiabank, and included BMO Capital Markets, National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Ltd., Industrial Alliance Securities Inc., Mackie Research Capital Corporation, and Manulife Securities Incorporated.

About Brompton Funds

Brompton Funds, a division of Brompton Group, is an experienced investment fund manager operating since 2002. Brompton is focused on meeting the needs of investors by offering low cost, innovative products with client friendly terms and supported by strong corporate governance. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 / toll-free at 1-866-642-6001 / email info@bromptongroup.com or visit our website at www.bromptongroup.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Company's prospectus which is available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this news release and to other matters identified in public filings relating to the Company, to the future outlook of the Company and anticipated events or results and may include statements regarding the future financial performance of the Company. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

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