/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED
STATES/
TSX Symbol: FC
TORONTO,
Jan. 28, 2014 /CNW/ - Firm Capital
Mortgage Investment Corporation (the "Corporation") (TSX:
FC) today announced that it has completed the previously announced
issue and sale of 1,955,000 common shares of the Corporation
("Common Shares") at a price of Cdn$12.10 per Common Share, including the
exercise in full of the underwriters' over-allotment option, for
aggregate gross proceeds to the Corporation of Cdn$23,655,500. The Common Shares are listed and
posted for trading on the Toronto Stock Exchange under the symbol
"FC". The offering was underwritten by a syndicate of
underwriters led by TD Securities Inc. including National Bank
Financial Inc., Desjardins Securities Inc., Dundee Securities Ltd.,
RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord
Genuity Corp. and GMP Securities L.P.
The net proceeds of the offering will be used to
repay a portion of the Corporation's indebtedness and for general
corporate purposes.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy Common Shares.
The Common Shares 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 in limited
circumstances.
About Firm Capital Mortgage Investment Corporation
The Corporation, through its mortgage banker,
Firm Capital Corporation, is a non-bank lender providing
residential and commercial short-term bridge and conventional real
estate financing, including construction, mezzanine and equity
investments. The Corporation's investment objective is the
preservation of shareholders' equity, while providing shareholders
with a stable stream of monthly dividends from investments. The
Corporation achieves its investment objectives through investments
in selected niche markets that are under-serviced by large lending
institutions. Lending activities to date continue to develop a
diversified mortgage portfolio, producing a stable return to
shareholders. Full reports of the financial results of the
Corporation for the year are outlined in the audited financial
statements and the related management discussion and analysis of
Firm Capital, available on the SEDAR website at www.sedar.com. In
addition, supplemental information is available on Firm Capital's
website at www.firmcapital.com.
Forward Looking Information
This press release may contain forward-looking
statements. In some cases, forward-looking statements can be
identified by the use of words such as "may", "will", "should",
"expect", "plan", "anticipate", "believe", "estimate", "predict",
"potential", "continue", and by discussions of strategies that
involve risks and uncertainties. The forward-looking statements are
based on certain key expectations and assumptions made by the
Corporation regarding, among other things, the use of the net
proceeds from the offering. By their nature, forward-looking
statements involve numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and
various future events will not occur. Although management of the
Corporation believes that the expectations reflected in the
forward-looking statements are reasonable, there can be no
assurance that future results, levels of activity, performance or
achievements will occur as anticipated. Neither the Corporation nor
any other person assumes responsibility for the accuracy and
completeness of any forward-looking statements, and no one has any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or such other
factors which affect this information, except as required by
law.
SOURCE Firm Capital Mortgage Investment Corporation