June 12 (Reuters) - Versabank VB.TO :
* Versabank announces preferred share offering
* Obtained a receipt from securities regulatory authorities in each of provinces of Canada
* Net proceeds of offering are expected to qualify as Tier 1 capital of bank
* Receipt for preliminary short form prospectus for offering of up to $30 million of non-cumulative 5-year rate reset preferred shares, series 5
* The $30 million of non-cumulative 5-year rate reset preferred shares, series 5 is at a price of $10.00 per share
* About $10 million of net proceeds of offering to be used for repayment of certain subordinated indebtedness, subject to regulatory approval Source text for Eikon: ID:nBw1wCVdBa Further company coverage: VB.TO