Laurentian Bank Acknowledges CIRB Decision

Application for Revocation of Union Certification by an Employee of the Bank

MONTREAL, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Laurentian Bank (TSX:LB) was informed today by the Canada Industrial Relations Board (CIRB) that the application for revocation of Union Certification by an employee of the Bank, filed on December 22, 2020, has obtained the required level of support. The CIRB will hold a vote of the employees at a date to be determined shortly.

Union accreditation covers all Laurentian Bank unionized employees. These employees work mainly in the Quebec branches of the Bank and some in the Montreal corporate offices.

Caution regarding forward-looking statements

We may, from time to time, make written or oral forward-looking statements within the meaning of applicable securities legislation, including in this document and the documents incorporated by reference herein, and in other documents filed with Canadian regulatory authorities or in other written or oral communications. Forward-looking statements include, but are not limited to, statements regarding our business plans and strategies, priorities and financial objectives, the regulatory environment in which we operate, the anticipated impact of the coronavirus ("COVID-19") pandemic on the Bank’s operations, earnings results and financial performance and statements under the headings “Outlook”, “COVID-19 Pandemic” and “Risk Appetite and Risk Management Framework” contained in our 2020 Annual Report for the year ended October 31, 2020 (the "2020 Annual Report"), including the Management’s Discussion and Analysis for the fiscal year ended October 31, 2020 and other statements that are not historical facts. Forward-looking statements typically are identified with words or phrases such as "believe”, “assume”, "estimate", "forecast", “outlook”, "project", “vision”, "expect", “foresee”, "anticipate", "plan", "goal", “aim”, "target", "may", "should", "could", "would", "will", "intend" or the negative of these terms, variations thereof
or similar terminology.

By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, both general and specific in nature. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2020 Annual Report under the heading “Outlook”. There is significant risk that the predictions, forecasts, projections or conclusions will prove to be inaccurate, that our assumptions may not be correct, and that actual results may differ materially from such predictions, forecasts, projections or conclusions.