• With all conditions to complete the acquisition met, the transaction is expected to close within weeks
• Bank to continue to operate as a federally regulated Schedule I bank under its current charter, with no changes to its day-to-day operations.

TORONTO, June 18, 2025 /CNW/ - WealthONE Bank of Canada ("WealthONE" or the "Bank") 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.

About WealthONE Bank of Canada
A federally chartered Canadian Schedule 1 digital bank, headquartered in Toronto ON provides Canadians across the county with a safe, convenient, and responsive experience for their everyday banking, borrowing, savings and investing needs. WealthONE was recently recognized by Forbes Advisor as one of Canada's Top 3 Best Online Banks: https://www.forbes.com/advisor/ca/banking/best-online-banks/.

Wealth One Bank of Canada is a member of the Canadian Deposit Insurance Corporation (CDIC). For more information about WealthONE, please visit: www.wealthonebankofcanada.com/About+Us/Why+WealthONE

WealthONE is a registered trade name of Wealth One Bank of Canada in all provinces except Quebec. INFOR Financial Inc. acts as the exclusive financial advisor of the Bank on this transaction.

About Globalive
Globalive is the diversified investment company of Anthony Lacavera and partners. Globalive focuses on long term investments globally in the Telecom, Financial services, and Longevity industries. The Globalive team has a build studio focused on building and operating select high growth companies.

SOURCE Wealth One Bank of Canada