New Commerce Split Declares a Monthly Distribution, Payable on October 8, 2021

New Commerce Split Corp. is a Canada-based company, which invests in common shares of Canadian Imperial Bank of Commerce. It offers three types of shares: a Capital share, a Class I Preferred and a Class II Preferred. The Company’s investment objectives for the Class I Preferred Share are to provide holders of the Class I Preferred Shares with fixed cumulative preferential monthly cash dividends in the amount of $0.025 per Class I Preferred Share to yield 6.00% per annum on the Class I Preferred Share Repayment Amount. Its investment objectives for the Class II Preferred Share are to provide holders of the Class II Preferred Shares with fixed cumulative preferential monthly cash dividends in the amount of $0.03125 per Class II Preferred Share to yield 7.50% per annum on the Class II Preferred Share Repayment Amount of $5.00, if and when the net asset value per Unit exceeds $10.00. Quadravest Capital Management Inc. is the manager and investment manager for the Company.