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Canadian Western Bank closes common stock offering

Edmonton, Canada-based Canadian Western Bank closed its of common stock, issuing6,125,000 common shares at C$24.50 each to raise gross proceeds of approximatelyC$150 million.

The offeringwas underwritten on a bought-deal basis by a syndicate led by BMO CapitalMarkets and National Bank Financial Inc. Net proceeds from the offering will beadded to the bank's capital base and used for general corporate purposes,according to a news release.