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MCAN Mortgage Corporation Announces Filing of Preliminary Base Shelf Prospectus for $400 Million in Securities
MCAN Mortgage Corporation Announces Filing of Preliminary Base Shelf Prospectus for $400 ...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n \n \n \n MCAN Mortgage Corporation Announces Filing of Preliminary Base Shelf Prospectus for $400 Million in Securities\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION OR DISSEMINATION INTO\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRE SERVICES/\n \n \n \n TORONTO\n \n ,\n \n Aug. 16, 2021\n \n /CNW/ - MCAN Mortgage Corporation (\"MCAN\", the \"Company\" or \"we\") (TSX: MKP) today announced that it has filed and obtained a receipt for a preliminary short form base shelf prospectus (the \"Shelf Prospectus\") with the Securities Commissions in each of the provinces and territories of Canada.  Once the final Shelf Prospectus is filed and receipted, MCAN will be allowed to make public offerings of up to\n \n $400 million\n \n of common shares, preferred shares, debt securities, subscription receipts, warrants and units (the \"Securities\") during the 25-month period that the Shelf Prospectus is effective.  The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale, and set forth in an accompanying prospectus supplement.  MCAN has filed the Shelf Prospectus in order to maintain financial flexibility and to have the ability to offer Securities on an accelerated basis to fund current and future growth of the business.\n \n \n \n \n \n \n \n \n \n \"MCAN continues to grow its business as evidenced by an increase in our  corporate assets of 17% year to date,\" said\n \n Karen Weaver\n \n , President and Chief Executive Officer.  \"The Shelf Prospectus allows us to access capital when needed to fund future growth. The Shelf Prospectus also offers the flexibility for diversification and expansion of our funding sources in the near term as we look to evolve our capital markets and other funding strategies.\"\n \n \n This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of Secur...