Vote in favor of revocation of the union certification following an application by an employee of Laurentian Bank

MONTREAL, March 19, 2021 (GLOBE NEWSWIRE) -- The Laurentian Bank of Canada (TSX:LB) has been informed today by the Canada Industrial Relations Board (CIRB) of the results of the vote held among the unionized employees of the Bank. This vote followed a request for revocation of the union certification, filed on December 22, 2020 by an employee of the Bank. Employees voted in favour of revocation by a proportion of 56.6%.

The Union has filed an unfair labour practice complaint following the filing of the decertification application. The CIRB stated that the parties would be called upon in order to discuss the next steps regarding the complaint in light of the voting results. Employees covered by the bargaining certificate remain unionized for the time being.

Laurentian Bank will follow any further indications by the CIRB.

The union certification covers all unionized employees of Laurentian Bank. These employees work mainly in Quebec branches, as well as some in corporate offices in Montreal.

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