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Press release from CNW Group

Laurentian Bank of Canada announces C$60 million bought deal financing

Friday, January 13, 2012

Laurentian Bank of Canada announces C$60 million bought deal financing08:02 EST Friday, January 13, 2012MONTREAL, Jan. 13, 2012 /CNW Telbec/ - Laurentian Bank of Canada (TSX: LB) ("Laurentian") has announced today that it has entered into an agreement with a syndicate of underwriters led by CIBC, BMO Capital Markets and Laurentian Bank Securities Inc., under which the underwriters have agreed to buy on a bought deal basis by way of a short form prospectus, 1,262,000 common shares (the "Common Shares"), at a price of $47.55 per Common Share for gross proceeds of approximately $60 million (the "Offering"). The Company has granted the Underwriters an option, exercisable at the Offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 5% of the Offering to cover over-allotments, if any. The Common Shares will be offered for sale to the public in each of the provinces of Canada pursuant to a short form prospectus to be filed with Canadian securities regulatory authorities in all Canadian provinces. The Offering is expected to close on or about February 2, 2012 and is subject to Laurentian receiving all necessary regulatory approvals.The net proceeds of this Offering will be used for Laurentian general corporate purposes.The securities offered 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 an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.Not for distribution to U.S. news wire services or dissemination in the United States.About LaurentianLaurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Distinguishing itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.Laurentian Bank is well established in the Province of Québec, operating the third-largest retail branch network. Elsewhere throughout Canada, it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $24 billion in balance sheet assets and more than $35 billion in assets under administration. Founded in 1846, it has been selected as the Québec and Atlantic Canada regional winner of the Canada's 10 Most Admired Corporate CulturesTM program presented by Waterstone Human Capital. The Bank employs close to 3,700 people.CAUTION REGARDING FORWARD-LOOKING STATEMENTSIn this document and in other documents filed with Canadian regulatory authorities or in other communications, Laurentian Bank of Canada may from time to time make written or oral forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements regarding the Bank's business plan and financial objectives. The forward-looking statements contained in this document are used to assist the Bank's security holders and financial analysts in obtaining a better understanding of the Bank's financial position and the results of operations as at and for the periods ended on the dates presented and may not be appropriate for other purposes. Forward-looking statements typically use the conditional, as well as words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology.By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove to be inaccurate. Although the Bank believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct.The Bank cautions readers against placing undue reliance on forward-looking statements when making decisions, as the actual results could differ considerably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various material factors. Among other things, these factors include capital market activity, changes in government monetary, fiscal and economic policies, changes in interest rates, inflation levels and general economic conditions, legislative and regulatory developments, competition, credit ratings, scarcity of human resources and technological environment. The Bank further cautions that the foregoing list of factors is not exhaustive. For more information on the risks, uncertainties and assumptions that would cause the Bank's actual results to differ from current expectations, please also refer to the Bank's Annual Report under the title "Integrated Risk Management Framework" and other public filings available at www.sedar.com.The Bank does not undertake to update any forward-looking statements, whether oral or written, made by itself or on its behalf, except to the extent required by securities regulations.For further information: Gladys Caron Vice-President, Public Affairs, Communications and Investor Relations 514 284-4500, extension 7511