Canadian Large Cap Leaders Split Corp. Establishes At-The-Market Equity Program
TORONTO, May 29, 2026 (GLOBE NEWSWIRE) -- (TSX: NPS.PR.A, NPS) – Canadian Large Cap Leaders Split Corp. (the “Company”) is pleased to announce that it has established an at-the-market equity program (the “ATM Program”). The ATM Program authorizes the issuance of up to $100,000,000 of preferred shares (the “Preferred Shares”) and up to $100,000,000 of class A shares of the Company (the “Class A Shares”, and together with the Preferred Shares, the “Shares”) to the public from time to time, at the discretion of the Company. Any Shares issued under the ATM Program will be sold at the prevailing market price at the time of sale through the Toronto Stock Exchange (“TSX”) or any other marketplace in Canada on which the Shares are listed, quoted or otherwise traded.
The volume and timing of distributions under the ATM Program, if any, will be determined at the Company’s sole discretion. The ATM Program will be effective until June 28, 2028, unless terminated prior to such date by the Company.
Sales of Shares through the ATM Program will be made pursuant to the terms of an equity distribution agreement dated as of May 29, 2026 (the “Equity Distribution Agreement”) with National Bank Financial Inc. (the “Agent”).
Sales of Shares will be made by way of “at-the-market distributions” as defined in National Instrument 44-102 Shelf Distributions on the TSX or on any marketplace for the Shares in Canada. Since Shares will be distributed at prevailing market prices at the time of the sale, prices may vary among purchasers during the period of distribution. The ATM Program is being offered pursuant to a prospectus supplement dated May 29, 2026 (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated May 28, 2026 (the “Shelf Prospectus”).
Copies of the Prospectus Supplement and the Shelf Prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the Agent, and are available on SEDAR+ at www.sedarplus.ca.
The net proceeds of the ATM Program will be used to invest, on an approximately equally-weighted basis, in a portfolio comprised primarily of equity securities of Canadian Dividend Growth Companies (as defined below), selected by the portfolio manager, that at the time of investment and immediately following each periodic reconstitution and rebalancing: (i) are listed on a Canadian exchange; (ii) pay a dividend; (iii) generally have a market capitalization of at least $10 billion; (iv) have options in respect of its equity securities that, in the opinion of the portfolio manager, are sufficiently liquid to permit the portfolio manager to write options in respect of such securities; and (v) have a history of dividend growth or, in the portfolio manager’s view have high potential for future dividend growth (“Canadian Dividend Growth Companies”).
The investment objectives of the Preferred Shares are to provide holders with fixed cumulative preferential quarterly cash distributions of $0.1875 per Preferred Share, representing 7% per annum on a Preferred Share offering price of $10.78 per Preferred Share (based on the closing price on the TSX of the Preferred Shares on May 28, 2026), until February 28, 2029, subject to extension for successive terms of up to five years as determined by the Company’s board of directors (the “Maturity Date”), and return the original issue price of $10.00 per Preferred Share to holders on the Maturity Date.
The investment objectives of the Class A Shares are to provide holders with regular monthly non-cumulative cash distributions targeted to be $0.18 per Class A share representing a yield of 14% per annum on a Class A Share offering price of $15.45 per Class A Share (based on the closing price on the TSX of the Class A Shares on May 28, 2026), and the opportunity for growth in the net asset value per Class A Share.
About Ninepoint Partners LP
Ninepoint Partners LP is the Manager, Portfolio Manager and Promoter of the Company and provides all administrative services required by the Company. Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $8.2 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.
For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at 416.362.7172, or 1.888.362.7172 or invest@ninepoint.com.
A prospectus supplement to the Company’s short form base shelf prospectus dated May 28, 2026 containing important detailed information about the Preferred Shares and the Class A Shares being offered has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. Copies of the prospectus supplement and the short form base shelf prospectus may be obtained from your registered financial advisor using the contact information for such advisor, or from representatives of the agent listed above. Investors should read the prospectus supplement and the short form base shelf prospectus before making an investment decision.
You will usually pay brokerage fees to your dealer if you purchase or sell shares of investment funds on the TSX or another alternative Canadian trading system (an “exchange”). If shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Company in the public filings available at www.sedarplus.ca. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document 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 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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