Service Fee

This news release constitutes a “designated news release” for the purposes of the respective prospectus supplements to the short form base shelf prospectuses of the applicable Funds indicated in the chart below.

TORONTO, May 31, 2022 (GLOBE NEWSWIRE) -- (TSX: INC.UN, FTN, DFN, FFN, FTU, LFE, PDV, DF, YCM, XMF.A, XTD, DS) Quadravest Capital Management Inc. (“Quadravest”), the investment manager of the Companies listed below (together, the “Companies”), announces today that effective June 1, 2022, the Companies will discontinue the payment of the service fee which is currently paid to dealers whose clients hold Class A Shares, Capital Shares, Equity Shares or Units, as applicable, of the Companies.

This change is required in order for the Companies to comply with applicable securities laws across all dealer platforms. The discontinuation of the service fee will reduce the expenses of each of the Companies, thereby increasing the returns of each Company.

Company Name	TSX Symbol	Base Shelf	Prospectus Supplement
Income Financial	INC.UN	July 23, 2021*	April 8, 2022
Financial 15 Split Corp.	FTN	November 22, 2021	November 22, 2021
Dividend 15 Split Corp.	DFN	July 3, 2020	January 25, 2022
North American Financial 15 Split Corp.	FFN	July 3, 2020*	April 12, 2022
US Financial 15 Split Corp.	FTU	-	-
Canadian Life Companies Split Corp.	LFE	February 11, 2022	March 16, 2022
Prime Dividend Corp.	PDV	-	-
Dividend 15 Split II Corp.	DF	May 7, 2021*	April 12, 2022
New Commerce Split Corp.	YCM	-	-
M Split Corp.	XMF.A	-	-
TDb Split Corp.	XTD	December 1, 2021	December 2, 2021
Dividend Select 15 Corp.	DS	December 9, 2021*	December 13, 2021
		*as amended

Investor Relations:
1-877-478-2372
416-304-4443
info@quadravest.com

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Companies. The forward-looking statements are not historical facts but reflect a Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although each of the Companies believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.