Press release from GlobeNewswire (a Nasdaq OMX company)
Atrium MIC's Portfolio Has Not Been Affected by Floods in Calgary
Friday, June 28, 2013
Atrium MIC's Portfolio Has Not Been Affected by Floods in Calgary06:19 EDT Friday, June 28, 2013
TORONTO, June 28, 2013 (GLOBE NEWSWIRE) -- Atrium Mortgage Investment Corporation (TSX:AI) ("Atrium") today reported that its mortgage portfolio has not been affected by the floods in Calgary and southern Alberta.
Atrium has mortgages on five properties in Alberta, none of which have been directly affected by the floods. The mortgages outstanding have a book value of $19.6 million, representing 7.4% of the company's total mortgage portfolio at June 28, 2013.
Dan Stewart, Atrium's Managing Director for Alberta, stated, "We feel deeply for those who have suffered injuries, or lost their homes or businesses due to the floods. Fortunately, none of the properties included as collateral for our mortgages have been damaged."
As a mortgage investment corporation, Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters.
CONTACT: For further information, please contact Atrium Mortgage Investment Corporation Robert G. Goodall President and Chief Executive Officer Atrium Mortgage Investment Corporation Jeffrey D. Sherman Chief Financial Officer (416) 607-4200 firstname.lastname@example.org www.atriummic.com