Business
Montfort Capital Announces Sale of Mortgage Business
Montfort Capital Announces Sale of Mortgage Business Canada NewsWire TORONT...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\n Montfort Capital Announces Sale of Mortgage Business\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.33em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n April 2, 2025\n \n\n /CNW/ - Montfort Capital Corp. (\"\n \n\n Montfort\n \n\n \" or the \"\n \n Company\n \n \") (TSXV: MONT), a trusted provider of focused private credit strategies for institutional investors, family offices, and wealth managers, today announced that, in furtherance to its press releases dated\n \n November 26, 2024\n \n ,\n \n February 3, 2025\n \n and\n \n March 19, 2025\n \n , it has closed the sale of its mortgage lending business (the \"\n \n Sale Transaction\n \n \") to Brightpath Holdings Corporation (the \"\n \n Buyer\n \n \").\n \n\n\n\n\n\n\n\n\n The Buyer is a company controlled by Mr.\n \n Blake Albright\n \n , a former director and senior officer of the Company.\n \n\n Pursuant to the definitive share purchase agreement with the Buyer (the \"\n \n Definitive\n \n\n Agreement\n \n \"), the Company has sold all of the shares of Brightpath Capital Corporation, Brightpath Servicing Corporation and Brightpath II Servicing Corporation (collectively, \"\n \n Brightpath\n \n \"), which together comprise the Company's mortgage lending business, to the Buyer for an aggregate purchase price equal to:\n \n\n\n\n\n\n\n (1)\n \n\n\n\n\n\n $13,000,000 of indebtedness owing from the Company to Brightpath (the \"...