North American Financial 15 Completes Overnight Offering of $69,249,600

TORONTO, ONTARIO -- (Marketwired) -- 10/20/17 -- North American Financial 15 Split Corp. (the "Company") is pleased to announce it has completed the overnight offering of 3,664,000 Preferred Shares and 3,664,000 Class A Shares of the Company. The total proceeds of the offering were $69.2 million, bringing the Company's net assets to approximately $270.1 million. The shares will trade on the Toronto Stock Exchange under the existing symbols of FFN.PR.A (Preferred Shares) and FFN (Class A Shares).

The Preferred Shares were offered at a price of $9.90 per Preferred Share to yield 5.30% and the Class A Shares were offered at a price of $9.00 per Class A Share to yield 13.33%.

The offering was co-led by National Bank Financial Inc., CIBC, Scotia Capital Inc., RBC Capital Markets and also included BMO Capital Markets, TD Securities, Canaccord Genuity Corp., GMP Securities L.P., Raymond James, Desjardins Securities Inc., Echelon Wealth Partners, Industrial Alliance Securities Inc, Mackie Research Capital Corporation and Manulife Securities Incorporated.

The net proceeds of the offering will be used by the Company to invest in an actively managed, high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows:

Bank of Montreal          National Bank of Canada   Bank of America Corp.
The Bank of Nova Scotia   Manulife Financial        Citigroup Inc.
                          Corporation
Canadian Imperial Bank    Sun Life Financial        Goldman Sachs Group Inc.
of Commerce               Services of Canada Inc.
Royal Bank of Canada      Great-West Lifeco Inc.    JP Morgan Chase & Co.
The Toronto-Dominion      CI Financial Corp.        Wells Fargo & Co.
Bank

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the Company's publically filed documents which are available at www.sedar.com.

Contacts:
North American Financial 15 Split Corp.
Investor Relations
416-304-4443
Toll free at 1-877-4-Quadra (1-877-478-2372)
www.financial15.com

Source: North American Financial 15 Split Corp.

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