Bank of Nova Scotia : You Are Missing the Point(s) If You Are Missing the Card

TORONTO, ON--(Marketwired - May 30, 2016) - Following the April announcement of the new co-brand credit card venture by Scotiabank and the Overwaitea Food Group (parent company of Save-On-Foods, Canada's largest Western-based grocery retailer), the two companies today officially launched one of the richest credit card rewards programs in the Canadian marketplace.

The new Scotiabank® More Rewards®*Visa *card offers Canadians up to 6x the points on every purchase made on their card.

WHAT:
Introducing the new Scotiabank® More Rewards®*Visa *card

WHO:
Scotiabank and the Overwaitea Food Group

WHEN:
Applications available starting Monday, May 30

WHERE:
Available at Scotiabank branch locations, online and at all grocery stores accepting More Rewards, including Save-On-Foods, PriceSmart Foods, Overwaitea Foods, and Urban Fare stores

'Scotiabank is continually looking for ways to add more flexibility and value to the rewards programs that we offer on our cards and our new collaboration with the Overwaitea Food Group on the Scotiabank More Rewards Visa card accomplishes just that,' said Chris MacDonald, Vice President, Partnerships, Credit Cards at Scotiabank. 'More Rewards is one of the richest rewards programs in the Canadian marketplace today and we are proud to work with the Overwaitea Food Group to reward consumers for their everyday purchases where they already shop.'

Scotiabank More Rewards Visa card customers earn 6x More Rewards points per dollar on purchases at Save-On-Foods and other participating More Rewards partner locations and 4x More Rewards points on every dollar spent on purchases everywhere else, with no annual fee and no earn or redemption caps. More Rewards members can earn points more quickly and redeem points on the things that matter to them like travel, groceries and everyday reward items.

'We are proud to work with Scotiabank to introduce the new Scotiabank More Rewards Visa card to Canadians,' said Darrell Jones, President, the Overwaitea Food Group and Save-On-Foods. 'We are continually looking for innovative ways to deliver more value for our customers. With the Scotiabank More Rewards Visa card in their wallet, More Rewards members can earn More Rewards points more quickly and redeem points on the things that matter to them like travel, groceries and everyday reward items.'

For a full list of participating More Rewards partners and redemption offers, please visit morerewards.ca.

For more details about the new Scotiabank More Rewards VISA card, visit scotiabank.com/morerewardsvisa.

About Scotiabank
Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 89,000 employees and assets of $920 billion (as at January 31, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

About the Overwaitea Food Group
The Overwaitea Food Group is the largest Western-based Canadian food store chain, serving more than 80 communities in BC and Alberta. The company has been in operation for 101 years, with its first store originally located in New Westminster, BC. The Overwaitea Food Group currently operates more than 150 stores under the Save-On-Foods, Overwaitea Foods, Urban Fare, PriceSmart Foods, and Bulkley Valley Wholesale banners. With the support of more than 16,000 team members, the company proudly provides customers with great local value in unique and innovative ways; delivering world-class products, services, and an exceptional in-store experience, customized to suit the needs of each community they serve.

About More Rewards
The More Rewards loyalty program was created by the Overwaitea Food Group (OFG) in 1992. More Rewards provides customers with the opportunity to earn points by using their More Rewards card on everyday purchases.

Points are easily redeemed for a variety of great rewards ranging from free groceries to gift cards and consumer goods. New to the program, members now enjoy booking travel without seat restrictions or minimum points balances at More Rewards Travel, giving members the choice of online booking or high-touch personal agent service at no added cost.

Only currently available online and at Scotiabank branch locations outside the Province of Quebec.