Acquisition of WealthONE Bank by Canadian Consortium of Investors Led by Globalive Approved by Government of Canada

Wealth One Bank of Canada and Globalive are pleased to announce that the Government of Canada has approved the acquisition of all the issued and outstanding shares of the Bank by a consortium of Canadian investors led by Globalive.

"We are taking a long-term growth approach with WealthONE, with a consortium of strategic investors alongside permanent capital from Globalive," said Anthony Lacavera, Chairman of Globalive.

Mr. Lacavera added "We look forward to closing the transaction, capitalizing the Bank, and supporting its next phase of growth."

Mr. Lacavera also added "This important milestone reflects the sustained efforts of Simon Lockie and the Globalive team throughout a comprehensive and rigorous review process."

Paul Leonard, President and CEO of WealthONE said, "We're very happy to partner with Globalive, whose strategic vision aligns perfectly with our commitment to supporting customers with practical financial solutions."

Since its establishment nearly a decade ago, WealthONE has been dedicated to meet the evolving needs of Canadians. The Bank has expanded its services to support a diverse clientele, including self-employed individuals, entrepreneurs, and those seeking straightforward, financial tools to manage their financial futures. WealthONE is well-positioned to continue its growth and enhance its contribution to Canada's financial landscape.

The Bank will continue to operate as a federally regulated Schedule I bank under its current charter, with no changes to its day-to-day operations.

INFOR Financial Inc. acted as the exclusive financial advisor to WealthONE on this transaction.