Business
MCAN Mortgage Corporation Announces Closing of Public Offering of Common Shares
Apr. 18, 2011 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR ...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n\n\n Apr. 18, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES./\n\n\nStock market symbol \nTSX: MKP \n\n\nTORONTO, April 18 /CNW/ - MCAN Mortgage Corporation ("MCAN" or the\n "Company") (TSX:MKP) announced today that it has successfully completed\n the issuance of 2,300,000 common shares at a price of $14.50 per share\n for total gross proceeds of $33,350,000 (the "Offering"). The Offering\n includes the previously announced issuance of 2,000,000 common shares\n for gross proceeds of $29,000,000, together with 300,000 common shares\n issued pursuant to the exercise in full of the over-allotment option by\n the agents for additional gross proceeds of $4,350,000. The Offering\n was conducted through a syndicate of agents co-led by BMO Capital\n Markets and RBC Capital Markets and including National Bank Financial\n Inc. and Scotia Capital Inc. BMO Capital Markets acted as sole\n bookrunner for the Offering.\n\n\nThe Company expects to use the net proceeds of the Offering for\n investment in single family residential mortgages, construction loans\n and commercial term mortgages in the ordinary course of MCAN's\n business.\n\n\nNone of the common shares held by C-CAP II Limited Partnership, an\n affiliate of CDP Capital-Conseil Immobilier Inc., will be sold under\n the previously disclosed arrangement with BMO Capital Markets.\n\n\nThe securities offered have not...