TORONTO, Oct. 17, 2025 /CNW/ - Stephen Smith announced that on October 16, 2025, Smith Financial Corporation, an entity controlled by Mr. Smith, made a charitable donation of 3,333,333 common shares in the capital of First National Financial Corporation (the "Common Shares") to The Stephen Smith Family Charitable Foundation held with the Cidel Foundation (the "Donation"). No consideration was paid in connection with the Donation.
Prior to the Donation, Mr. Smith indirectly owned or exercised control or direction over 22,409,355 Common Shares representing an approximately 37.4% ownership interest in First National Financial Corporation, and following the Donation, Mr. Smith indirectly owned or exercised control or direction over 19,076,022 Common Shares representing an approximately 31.8% ownership interest in First National Financial Corporation. Following completion of the previously announced arrangement of First National Financial Corporation, Mr. Smith is expected to own an approximate 19% indirect interest in First National Financial Corporation.
Mr. Smith holds common shares of First National Financial Corporation for investment purposes and expects to review from time to time the investment in First National Financial Corporation and may, depending on the market and other conditions: (i) acquire additional securities, options or related derivatives in the open market, in privately negotiated transactions or otherwise, and (ii) dispose of all or a portion of the securities, options or related derivatives over which it now or hereafter exercises, or may be deemed to exercise, control or direct.
This news release is being issued under the early warning reporting provisions of applicable securities laws. A copy of Stephen Smith's related early warning report will be filed with the applicable securities commissions and will be filed under the Company's SEDAR+ profile at www.sedarplus.ca. Further information and a copy of the early warning report of Stephen Smith may be obtained by contacting: Justin Brenner, SVP, Managing Director, Smith Financial Corporation, [email protected], (647) 446-2122. The head office of Smith Financial Corporation is located at 16 York Street, Suite 1900, Toronto Ontario, M5J 0E6.
SOURCE Stephen Smith

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