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Press release from Marketwire

Timbercreek Mortgage Investment Corporation Announces $30 Million Bought Deal Offering of Common Shares

Thursday, March 27, 2014

Timbercreek Mortgage Investment Corporation Announces $30 Million Bought Deal Offering of Common Shares

16:36 EDT Thursday, March 27, 2014

TORONTO, ONTARIO--(Marketwired - March 27, 2014) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Timbercreek Mortgage Investment Corporation (TSX:TMC) (the "Company") today announced that it has entered into an agreement with a syndicate of underwriters bookrun by TD Securities Inc. and Raymond James Ltd. and co-led by CIBC and RBC Capital Markets, pursuant to which the underwriters will purchase 3,250,000 common shares (the "Shares") at a price of $9.35 per Share (the "Issue Price") for gross proceeds of $30,387,500. The Company has also granted to the underwriters an over-allotment option to purchase up to an additional 487,500 Shares at the Issue Price, exercisable in whole or in part at any time for a period of up to 30 days following closing of the offering, to cover over-allotments. If the over-allotment option is exercised in full, the gross proceeds of the offering will total $34,945,625.

The Company will use the net proceeds of the offering for general corporate purposes, including funding future mortgage loans, and to repay existing indebtedness under its operating credit facility, which will then be available to be drawn, as required, for general corporate purposes, including funding future mortgage loans.

The offering of Shares is expected to close on or about April 24, 2014 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

A preliminary short-form prospectus will be filed by no later than April 2, 2014 with the securities regulatory authorities in all provinces and territories of Canada, except Québec. The securities being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except where an exemption from registration is available. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

About the Company

The Company provides investors with an opportunity to invest in a diversified portfolio of mortgage loans originated and underwritten by its manager, Timbercreek Asset Management Inc. (the "Manager"). The Company focuses on capital preservation and the generation of attractive, stable returns, allowing for the payment of monthly dividends to shareholders.

Certain statements contained in this news release may contain projections and "forward looking statements" within the meaning of that phrase under Canadian securities laws. When used in this news release, the words "may", "would", "should", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "objective" and similar expressions may be used to identify forward looking statements. By their nature, forward looking statements reflect the Company's current views, beliefs, assumptions and intentions are subject to certain risks and uncertainties, known and unknown, including, without limitation, those risks disclosed in the Company's public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The Company does not intend to nor assumes any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Timbercreek Asset Management Inc.
Carrie Morris
Investor Relations
cmorris@timbercreek.com

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