/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
