Press release from CNW Group
Timbercreek Mortgage Investment Corporation Announces Non-Brokered Private Placement Financing
Wednesday, January 05, 2011
TORONTO, Jan. 5 /CNW/ - Timbercreek Mortgage Investment Corporation (the "Fund"), is pleased to announce it has completed a non-brokered private placement of 750,000 Class B Shares at $10 per Class B Share (the "Private Offering") effective January 4, 2011. Gross proceeds of this Offering will be used to fund mortgage loans invested in from time to time and for general corporate purposes of the Fund.
As of the date of this press release the total issued and outstanding Class A Shares and Class B Shares were 13,390,011 and 4,618,832 respectively.
About the Fund
The Fund provides investors with an opportunity to receive attractive yields by investing indirectly, through holding shares of the Fund, in mortgage loan investments selected and determined to be high quality by the Fund Manager. The investment objective of the Fund is, with a primary focus on capital preservation, to acquire and maintain a diversified portfolio of mortgage loan investments that generates attractive, stable returns in order to permit the Fund to pay monthly distributions to its shareholders.
For further information:
Timbercreek Asset Management
Vice President, Investor Relations