Firm Capital Mortgage Investment Corporation Announces Early Redemption of 5.40% Convertible Debentures due June 30, 2025

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[{"type":"text","content":"Firm Capital Mortgage Investment Corporation Announces Early Redemption of 5.40% Convertible Debentures due June 30, 2025\n\n\n\n /NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n \n\n TORONTO, April 07, 2025 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the “\n \n Corporation\n \n ”) (TSX: FC) is pleased to announce that it intends to redeem early all of its outstanding $25,000,000 aggregate principal amount of 5.40% convertible unsecured subordinated debentures due June 30, 2025 (the “\n \n Debentures\n \n ”) on May 12, 2025 (the “\n \n Redemption Date\n \n ”). The Debentures, which have a maturity date of June 30, 2025, will be redeemed by the Corporation early in accordance with the terms of the Debenture trust indenture. The Debentures, which are listed and posted for trading on the Toronto Stock Exchange under the symbol FC.DB.I, will cease trading on the Redemption Date.\n \n\n On the Redemption Date, the Corporation will pay holders of Debentures a redemption price equal to $1,000 for each $1,000 principal amount of Debentures and all accrued and unpaid interest up to but excluding the Redemption Date. The Corporation intends to use cash on hand to pay the redemption price of the redeemed Debentures.\n \n\n Formal notice of redemption is being delivered to the Debenture holders through the Debenture Trustee, Computershare Trust Company of Canada, in accordance with the trust indenture. Beneficial holders of the Debentures are encouraged to contact their investment dealer to coordinate the surrender of their Debentures or if they have any questions about the redemption. No action is required to be taken by holders of the Debentures if they wish to have their Debentures redeemed in cash.\n \n\n\n\n About the Corporation\n \n\n\n\n\n\n Where Mortgage Deals Get Done®\n \n\n\n\n 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...

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