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MCAN Mortgage Corporation Establishes At-The-Market Program
MCAN Mortgage Corporation Establishes At-The-Market Program Canada NewsWire ...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n \n \n \n MCAN Mortgage Corporation Establishes At-The-Market Program\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 Oct. 6, 2021\n \n /CNW/ - MCAN Mortgage Corporation (\"MCAN\", the \"Company\" or \"we\") (TSX: MKP) today announced that it has established an at-the-market equity program (the \"ATM Program\") that allows the Company to issue up to\n \n $30,000,000\n \n (the \"Maximum Amount\") of common shares (\"Common Shares\") from treasury to the public from time to time. The ATM Program is being established pursuant to a prospectus supplement (the \"Prospectus Supplement\") dated the date hereof and filed in each of the provinces and territories of\n \n Canada\n \n , to the Company's short form base shelf prospectus dated\n \n August 20, 2021\n \n (the \"Shelf Prospectus\", and together with the Prospectus Supplement, the \"Prospectus\").\n \n \n \n \n \n \n \n \n \n Sales of the Common Shares through the ATM Program will be made pursuant and subject to the terms of an equity distribution agreement dated the date hereof (the \"Distribution Agreement\") with Canaccord Genuity Corp. The volume and timing of distributions under the ATM Program, if any, will be determined at MCAN's sole discretion.\n \n \n Sales of the Common Shares will be made through \"at-the-market distributions\" as defined in National Instrument 44-102 -\n \n Shelf Distributions\n \n . The Common Shares will be distributed under the ATM Program at the market prices prevailing at the time of sale, and therefore prices may vary as between purchasers and over time. The ATM Program will end on the earlier of (i)\n \n September 20, 2023\n \n , and (ii) the date of distribution of the Maximum Amount, unless terminated prior to such date in accordance with the terms of the Distribution Agreement. The Company plans to use the net proceeds, if any, from the ATM Program to grow the Company's mo...