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Canada Life Stock Sale Raises $94 Million

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NU Online News Service, Dec. 28, 12:32 p.m. – Canada Life Financial Corp., Toronto, says it has raised $94 million by completing a previously announced sale of 6 million shares of preferred stock for $25 per share.

The investment banks on the underwriting team will split $3.1 million of the proceeds.

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BMO Nesbitt Burns Inc., Toronto, was the lead underwriter.