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Atrium Mortgage Investment Corporation Announces Termination of Public Offering of Debentures
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR  DISSEMINATION IN...
About this update from Atrium Mortgage Investment Corp.
[{"type":"text","content":"Atrium Mortgage Investment Corporation Announces Termination of Public Offering of DebenturesTHIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.Toronto, Ontario--(Newsfile Corp. - June 30, 2025) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB.D) (TSX: AI.DB.F) (TSX: AI.DB.G) (\"Atrium\") today announced the termination of its bought deal offering of 6.00% convertible unsecured subordinated debentures of Atrium due September 30, 2032. The termination results from the additional time needed by Atrium's former auditor to complete further remediation procedures identified by the Canadian Public Accountability Board (\"CPAB\") over and above the initial remediation procedures previously performed. More specifically, additional remediation procedures are needed on the audit procedures the former auditor performed on the disclosure of the staging of Atrium's mortgage receivables and allowance for mortgage losses in 2023 and 2024. The foregoing has resulted in the opinions of the former auditor on Atrium's annual financial statements as at, and for the years ended, December 31, 2023 and 2024 being insufficiently supported in these areas. Atrium will provide assistance where needed and expects that all areas of concerns will be satisfactorily addressed.No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities that were being offered have not been, and were not to be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not have been offered or sold in the United States unless an exemption from registration was 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 Atrium in any jurisdiction.About AtriumCanada's Premier Non-Bank Lender™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. Atrium is a Mortgage Investment Corporation (MIC) as defined in th...