Canadian Banc Corp. (TSX:BK) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 2,226,511 Preferred Shares and 2,204,842 Class A Shares, repesenting 5.02% and 4.97% of its issued share capital. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled. The NCIB will commence on May 29, 2023 and terminate on May 28, 2024. As of May 15, 2023, the company had 22,287,682 Preferred Shares and 22,082,182 Class A Shares issued and outstanding.

Quadravest Capital Management Inc. acted as investment manager to the company.