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Timbercreek Mortgage Investment Corporation Announces Exercise of Over-Allotment Option in connection with its Bought Deal Offering of Convertible Debentures - Timbercreek Mortgage Investment Corporation

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

Toronto Stock Exchange: TMC

TORONTO, March 3, 2014 /CNW/ - Timbercreek Mortgage Investment Corporation (TSX: TMC) (the "Company") is pleased to announce that the underwriters of its bought deal offering of 6.35% convertible unsecured subordinated debentures of the Company due March 31, 2019 (the "Debentures") exercised their previously announced over-allotment option, resulting in the issue of an additional $4.5 million aggregate principal amount of Debentures. The exercise of the over-allotment option brings the total aggregate principal amount of the Debentures issued by the Company to $34.5 million. The Debentures are listed on the Toronto Stock Exchange under the symbol "TMC.DB".

The syndicate of underwriters for the bought deal offering of Debentures was bookrun by TD Securities Inc. and CIBC and co-led by Raymond James Ltd. and RBC Capital Markets, and included BMO Capital Markets, GMP Securities L.P., National Bank Financial Inc., Scotiabank, Canaccord Genuity Corp. and Dundee Securities Ltd.

The Company will use the net proceeds from the exercise of the over-allotment option for general corporate purposes, particularly for funding future mortgage loan opportunities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in the United States, nor shall there be any sale of the securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

About the Company

The Company provides investors with an opportunity to invest in a diversified portfolio of mortgage and loan investments 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 Manager's and the Company's current views, beliefs, assumptions and intentions are subject to certain risks and uncertainties, known and unknown, including, without limitation, 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.

SOURCE Timbercreek Mortgage Investment Corporation


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