Equitable Group Inc. Announces Filing of Preliminary Base Shelf Prospectus
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES/
TORONTO, June 18, 2014 /CNW/ - Equitable Group Inc. (TSX: EQB and EQB.
PR.A) ("Equitable" or the "Company") announced today that it has filed
a preliminary short form base shelf prospectus (the "Prospectus") with
the securities regulatory authorities in each of the provinces and
territories of Canada.
Pursuant to the Prospectus, the Company may issue securities (the
"Securities") for an aggregate offering amount of up to $500 million
during the 25-month period in which the final short form base shelf
prospectus, if approved, remains valid. Should Equitable offer any
Securities, it will make available a prospectus supplement which
includes the specific terms of the Securities being offered.
The Company filed the Prospectus to give it flexibility to take
advantage of financing opportunities as it sees fit, subject to market
conditions and other relevant factors. There is no certainty that any
Securities will be offered or sold under the final short form base
shelf prospectus within the 25-month period.
ABOUT EQUITABLE GROUP INC.
Equitable Group Inc. is a growing Canadian financial services business
that serves the market through its wholly-owned subsidiary, Equitable
Bank. Equitable Bank is a federally regulated Schedule I Bank with
total assets of approximately $12 billion, with more than 300 employees
and proven capabilities in lending and deposit-taking. The Company's
integrated operations are organized according to specialty. Within
Equitable Bank's Core Lending business, Single Family Lending Services
funds mortgages for owner-occupied and investment properties across
Canada while Commercial Lending Services provides mortgages on a
variety of commercial properties on a national basis. Equitable's
Securitization Financing business originates and securitizes insured
residential mortgages under the Canada Mortgage and Housing Corporation
administered National Housing Act. Equitable Bank provides savings
products including Guaranteed Investment Certificates and savings
accounts. Equitable Bank was founded in 1970 as The Equitable Trust
Company. For more information, visit the Company's website at www.equitablebank.ca and click on Investor Relations.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this media release constitute
forward-looking information within the meaning of applicable securities
laws. These statements include, but are not limited to, statements
about the Company's objectives, strategies and initiatives, financial
performance expectations and other statements made herein, whether with
respect to the Company's businesses or the Canadian economy. Generally,
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "planned", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases which state that
certain actions, events or results "may" , "could", "would", "should",
"might" or "will be taken", "occur", "be achieved", or other similar
expressions of future or conditional verbs.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, closing of transactions, performance or achievements
of the Company to be materially different from those expressed or
implied by such forward-looking statements. This includes, but is not
limited to, risks related to capital markets and additional funding
requirements, fluctuating interest rates and general economic
conditions, legislative and regulatory developments, changes in
accounting standards, the nature of the Company's customers and rates
of default, and competition as well as other factors discussed in the
Company's documents filed on SEDAR at www.sedar.com.
All material assumptions used in making forward-looking statements are
based on management's knowledge of current business conditions and
expectations of future business conditions and trends, including their
knowledge of the current credit, interest rate and liquidity conditions
affecting the Company and the Canadian economy as of the date of this
media release. Although the Company believes the assumptions used to
make such statements are reasonable at this time and has attempted to
identify in its continuous disclosure documents important factors that
could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. Certain
material assumptions are applied by the Company in making
forward-looking statements, including without limitation, assumptions
regarding its continued ability to fund its mortgage business, a
continuation of the current level of economic uncertainty that affects
real estate market conditions, continued acceptance of its products in
the marketplace, as well as no material changes in its operating cost
structure and the current tax regime. There can be no assurance that
such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not undertake to update
any forward-looking statements that are contained herein, except in
accordance with applicable securities laws.
SOURCE Equitable Group Inc.