Firm Capital Mortgage Investment Corporation Announces That Majority of Holders of 5.75% Debentures Have Elected to Receive Shares in Connection with Early Redemption

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[{"type":"text","content":"\n\n\n\nFirm Capital Mortgage Investment Corporation Announces That Majority of Holders of 5.75% Debentures Have Elected to Receive Shares in Connection with Early Redemption\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 31, 2017\n\n\n\n/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\nTSX Symbol: FC\n\n\n\nTORONTO, Aug. 31, 2017 /CNW/ - Firm Capital Mortgage Investment Corporation (the \"Corporation\") (TSX: FC) is pleased to announce that holders representing approximately 67% of the outstanding $31,443,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures of the Corporation due October 31, 2017 (the \"Debentures\"), have elected to receive freely tradeable common shares in the capital of the Corporation (\"Shares\") pursuant to the previously-announced early redemption of Debentures.\n\nThe Corporation would like to thank its Debentureholders for their support, recognizing that a majority of holders chose to receive Shares instead of cash. Such confidence is likely fostered by, among other matters, the fact that the Corporation has paid dividends every month since becoming a public entity in 1999, as well as the fact that the Corporation's regular dividend of $0.078 per Share has remained unchanged over the past 10 years.  \n\nAs announced on August 14, 2017, the Corporation intends to redeem early its outstanding Debentures, effective September 20, 2017 (the \"Redemption Date\"). The Corporation pays a special year-end dividend in respect of its Shares. \n\nThe Debentures, which are listed and posted for trading on the Toronto Stock Exchange under the symbol FC.DB.A, will cease trading subsequent to the Redemption Date.  \n\nAbout the Corporation\n\nWhere Mortgage Deals Get Done®\n\nThe 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, includin...

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