Canadian Banc Corp. Announces Successful Overnight Offering

TORONTO, ONTARIO -- (Marketwired) -- 04/02/15 -- Canadian Banc Corp. (the "Company") is pleased to announce it has completed the overnight marketing of up to 1,320,000 Preferred Shares and up to 1,320,000 Class A Shares of the Company. Total proceeds of the offering are expected to be approximately $30.7 million.

The offering is being co-led by National Bank Financial Inc., CIBC, RBC Capital Markets and also includes Scotia Capital Inc., TD Securities Inc., BMO Capital Markets, GMP Securities L.P., Canaccord Genuity Corp., Dundee Securities, Raymond James, Desjardins Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated.

The sales period of the overnight offering has now ended.

The Preferred Shares will be offered at a price of $10.00 per Preferred Share to yield 5% and the Class A Shares will be offered at a price of $13.25 per Class A Share to yield 10%. The closing price on the TSX of each of the Preferred Shares and the Class A Shares on April 1, 2015 was $10.30 and $13.75, respectively.

The net proceeds of the offering will be used by the Company to invest in a portfolio of six publicly traded Canadian Banks as follows:

Bank of Montreal          Canadian Imperial Bank of National Bank of Canada
                          Commerce
Royal Bank of Canada      Bank of Nova Scotia       The Toronto-Dominion
                                                    Bank

The Company's investment objectives are to:

Preferred Shares:

i.  provide holders with cumulative preferential floating rate monthly cash
    dividends at a rate per annum equal to the prevailing Canadian prime
    rate plus 0.75%(minimum annual rate of 5.0% and maximum annual rate of
    7%) based on original issue price; and
ii. On or about December 1, 2018 or such other date as the Company may
    determine (the "termination date") to pay holders the original $10 issue
    price of those shares.

Class A Shares:

i.  provide holders with regular monthly cash distributions currently
    targeted to be at the annualized rate of 10% based upon the volume-
    weighted average trading price of the Class A Shares on the TSX for the
    last three trading days of the preceding month; and
ii. On the termination date to pay holders the original $15 issue price of
    those shares.

The Company will today file an amended and restated preliminary short form prospectus, containing important information relating to the Preferred Shares and Class A Shares, with securities commissions or similar authorities in all provinces of Canada. The amended and restated preliminary short form prospectus is still subject to completion or amendment. Copies of the amended and restated preliminary short form prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the underwriters listed above. Investors should read the prospectus before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

Contacts:
Canadian Banc Corp.
Investor Relations
416-304-4443 or Toll free: 1-877-4-Quadra (1-877-478-2372)
www.canadianbanc.com

Source: Canadian Banc Corp.

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