Canadian Large Cap Leaders Split Corp. Announces Details of Class A Share Split and Concurrent Preferred Share Private Placement

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distribution
to
U.S.
newswire
services
or
for
dissemination
in
the
United States.]

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TORONTO, Jan. 23, 2025 (GLOBE NEWSWIRE) — (TSX: NPS, NPS.PR.A) – Canadian Large Cap Leaders Split Corp. (the “Company”) is pleased to announce the details of the previously announced split of its Class A shares (the “Share Split”) and provide an update on the concurrent private placement of preferred shares (the “Private Placement”). The Share Split and the Private Placement remain subject to the final approval of the Toronto Stock Exchange (the “TSX”).

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Pursuant to the Share Split, Class A shareholders of record at the close of business on February 4, 2025 will receive 15 additional Class A shares for every 100 Class A shares held. Ex-split trading of the Class A shares will commence at the opening of trading on February 4, 2025. Following the Share Split, class A shareholders will continue to receive the currently targeted monthly distribution of $0.125 per Class A share. As a result, the Share Split will result in an overall increase in the dollar amount of distributions to be paid to Class A shareholders by approximately 15%. The Company provides a distribution reinvestment plan, on a commission-free basis for Class A shareholders that wish to reinvest distributions and realize the benefits of compound growth.

Pursuant to the Private Placement, 235,000 preferred shares will be offered to investors at a price of $10.65 per preferred share such that, following the Share Split and the closing of the Private Placement, there will be approximately 1,795,547 Class A shares and 1,796,353 preferred shares outstanding. The Private Placement is scheduled to close on or about February 4, 2025. Following the completion of the Share Split and the Private Placement, the preferred shares are expected to have downside protection from a decline in the value of the Company’s portfolio of approximately 58%.⁽¹⁾

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The Company invests, on an approximately equally-weighted basis, in a portfolio comprised primarily of equity securities of Canadian Dividend Growth Companies (as defined below), selected by the portfolio manager, that at the time of investment and immediately following each periodic reconstitution and rebalancing: (i) are listed on a Canadian exchange; (ii) pay a dividend; (iii) generally have a market capitalization of at least $10 billion; (iv) have options in respect of its equity securities that, in the opinion of the portfolio manager, are sufficiently liquid to permit the portfolio manager to write options in respect of such securities; and (v) have a history of dividend growth or, in the portfolio manager’s view have high potential for future dividend growth (“Canadian Dividend Growth Companies”).

About
Ninepoint Partners LP

Ninepoint Partners LP is the Manager, Portfolio Manager and Promoter of the Company and provides all administrative services required by the Company. Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.

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For more information on Ninepoint Partners LP, please visit www.ninepoint.com or please contact us at 416.362.7172 or 1.888.362.7172 or [email protected].

(1) Based
on
the
NAV
of
the
Class
A
shares
used
to
determine
the
Share
Split
ratio.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of investment funds on the TSX or another alternative Canadian trading
system
(an “exchange”). If shares
are
purchased
or
sold
on an exchange,
investors
may pay more
than the current net asset
value when
buying shares
of the
investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund.
An investment fund must prepare disclosure documents that
contain key information about the fund.
You can find more detailed information about the Company in the public filings available at www.sedarplus.ca.
Investment
funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking
information may relate to matters
disclosed in this document and to other matters identified in public filings relating to the Company, to the future outlook of the
Company and anticipated events or results and may include statements regarding the future financial performance of the Company. In some cases, forward-looking
information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”,
“potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking
information.
Investors should not place undue reliance on forward-looking statements.
These forward-looking statements are made as of the date hereof
and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities have not
been registered under
the U.S. Securities
Act of 1933, as
amended, and may not
be offered or
sold in
the United
States
absent
registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an
offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

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