Firm Capital Mortgage Investment Corporation Closes $22,500,000 Bought Deal Financing

About this update from Firm Capital Mortgage Investment Corporation

[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n THE UNITED STATES/\n\n\nTSX Symbol: FC\n\n\nTORONTO, Aug. 23, 2011 /CNW/ - Firm Capital Mortgage Investment\n Corporation (the, \"Corporation\") (TSX: FC) today announced that it has closed its previously announced\n offering of $22,500,000 aggregate principal amount of 5.40% convertible\n unsecured subordinated debentures, due February 28, 2019 (the \"Debentures\"). Each Debenture is convertible into common shares at the option of\n the holder at a conversion price of $14.35 per share (or 69.6864 shares\n per $1,000 principal amount of Debentures). The Debentures are listed\n and posted for trading on the TSX under the symbol FC.DB.B. The offering was underwritten by a syndicate of underwriters led by TD\n Securities Inc. and including CIBC World Markets Inc., Dundee\n Securities Ltd., Desjardins Securities Inc., National Bank Financial\n Inc., and Macquarie Capital Markets Canada Ltd. The Corporation has\n also granted to the underwriters an over-allotment option, exercisable\n in whole or in part, at any time up to 30 days after the closing of the\n offering to purchase up to an additional $3,375,000 aggregate principal\n amount of Debentures.\n\n\nThe net proceeds of the offering will be used to repay a portion of its\n indebtedness.\n\n\nThe securities being offered have not been and will not be registered\n under the United States Securities Act of 1933 and accordingly will not\n be offered, sold or delivered, directly or indirectly within the United\n States, its possessions and other areas subject to its jurisdiction or\n to, or for the account or for the benefit of a U.S. person, except in\n limited circumstances.\n\n\nAbout The Corporation\nThe Corporation, through its mortgage banker, Firm Capital Corporation,\n is a non-bank lender providing residential and commercial short-term\n bridge and conventional real estate financing, including construction,\n mezzanine and equity investments. The Corporation's investment\n objective is the preservation of Shareholders' equity, while providing\n Shareholders with a stable stream of monthly dividends from\n investments. The Corporation achieves its investment objectives through\n investments in selected niche markets that are under-serviced by large\n lending institutions. Lending activities ...

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