EDMONTON, July 7, 2016 – Canadian Western Bank (TSX: CWB) today announced that it has closed its public offering of common shares. CWB issued 6,125,000 common shares (the “Shares”) at a price of $24.50 per Share to raise gross proceeds of approximately $150 million. The offering was underwritten on a bought deal basis by a syndicate led by BMO Capital Markets and National Bank Financial Inc. Net proceeds from the offering will be added to CWB's capital base and used for general corporate purposes.
The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of such Act and applicable state securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities in the United States.
For Further Information Contact:
Matt Evans, CFA
Senior AVP, Strategy & Investor Relations
Canadian Western Bank
Phone: (780) 969-8337
Email: [email protected]