VersaBank and PWC Capital complete merger

January 31, 2017

On January 31, 2017, VersaBank (TSX: VB, VB.PR.A, VB.PR.B) announced the completion of its previously announced merger with PWC Capital Inc. (TSX: PWC, PWC.PR.A, PWC.PR.B, PWC.NT.C) by means of an amalgamation under the Bank Act (Canada), as well as related transactions.

VersaBank, a technology-based and digital Canadian Schedule I chartered bank, operates using an “electronic branchless model”. Prior to the merger, PWC Capital was a holding company that held approximately 62.8% of the outstanding VersaBank common shares.

Miller Thomson advised Crosbie & Company Inc., financial advisor to the special committee of PWC Capital, with a team that was led by Jay Hoffman and that included Robert Forbes and Philip Long.