TORONTO, Aug. 29, 2016 /CNW/ - Hundreds of cyclists from across Ontario participated in Ride for Karen this Sunday. The annual cycling event raises money to support programs for children with cancer and their families, such as Camp Quality, Camp Oochigeas and Camp Trillium.

This year's ride raised $120,000. Thanks to support from Scotiabank, 100% of money raised will be donated to charity.

Former professional cyclist, Tyler Hamilton, joined participants on the endurance ride. The course started at Markham Fair Grounds, passing through Markham, Aurora, Newmarket, Uxbridge and the shores of Lake Simcoe.

"At Scotiabank, we believe supporting young people is the path to stronger, better communities," says Phil Smith, Senior Vice President and Chief Operating Officer of Global Banking and Markets at Scotiabank. "We're proud to help support Ride for Karen, a great event for such an important cause. We want to thank the participants and their supporters for their enthusiasm, dedication and commitment to helping children living with cancer."

Now in its 15th year, Ride for Karen has raised more than $2.37 million to help build and furnish new cancer care facilities, provide much needed resources for cancer support centres and send kids with cancer to camp. The ride was founded by Kirk and Kris Tobias as a tribute to their mother, Karen Tobias, who passed away from breast cancer.

"We're thankful for the support from Scotiabank, which ensures that 100% of money raised goes directly to helping children with cancer," says Ride for Karen co-founder, Kirk Tobias. "While battling cancer, our mother wanted to inspire hope and joy for all those around her, and Ride for Karen participants, volunteers and sponsors are doing just that -- inspiring hope, and sharing the joy of camp with children with cancer."

Approximately 1,500 children are diagnosed with cancer each year in Canada and another 10,000 are already living with cancer or its long-term effects.

About Ride for Karen
Started in 2002, Ride for Karen is an annual cycling event that is held as a tribute to the life and legacy of Karen Tobias and to raise money for charities that help people living with cancer, and those who care for them. Over the past 15 years, Ride for Karen has raised over $2.37 million which has been used to help build and furnish new cancer care facilities, provide much needed resources for cancer support centres and send kids with cancer to camp.

About Scotiabank
Through our global community investment strategy, Scotiabank and its employees support causes at a grassroots level. Recognized as a leader for our charitable donations and philanthropic activities, in 2015, Scotiabank contributed $67 million to help our communities around the world.

Scotiabank is Canada's international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 89,000 employees and assets of $895 billion (as at April 30, 2016), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.