Business
Montfort Capital Reports Strong Preliminary Unaudited Results Within Consumer Lending Segment for FY2022
Montfort Capital Reports Strong Preliminary Unaudited Results Within Consumer Lending Segment for...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n \n \n \n Montfort Capital Reports Strong Preliminary Unaudited Results Within Consumer Lending Segment for FY2022\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.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 17, 2023\n \n \n /CNW/ -\n \n Montfort Capital Corp. (\"Montfort\" or the \"Company\")\n \n (TSXV: MONT) (OTCQB: MONTF) a leading alternative lender utilizing focused strategies, experienced management teams and advanced technology, is pleased to report selected preliminary unaudited results related to its consumer lending segment, which alone has established a significant investment base of over\n \n $365 million\n \n in Assets Under Management and Administration (\"AUMA\") as at\n \n December 31, 2022\n \n . For comparison, as at\n \n December 31, 2021\n \n , the Company had $nil AUMA in its consumer lending segment and\n \n $125 million\n \n in Total Assets. This consumer lending business' growth was driven exponentially through the acquisitions of Brightpath Capital Corporation (\"Brightpath\") in\n \n August 2022\n \n and 78% of Langhaus Financial Partners Inc. (\"Langhaus\") in\n \n October 2022\n \n .\n \n \n \n \n \n \n \n \n \n Brightpath is one of\n \n Canada's\n \n leading private providers of residential mortgages focused on\n \n Ontario\n \n and\n \n British Columbia\n \n . Langhaus is\n \n Canada's\n \n largest independent provider of insurance policy backed loans focused on high-net-worth individuals and entrepreneurs.\n \n \n \"Brightpath and Langhaus are two well known brands in the private credit sector and have significantly increased\n \n Montfort's\n \n overall capacity,\" said\n \n Andrew Abouchar\n \n , Interim CEO of Montfort Capital. \"Our consumer lending segment has been strengthened in breadth of management and cap...