SHARBOT LAKE, ON, Dec. 20, 2024 /CNW/ – Frontenac Mortgage Investment Corporation (“FMIC” or the “Company“) announced today that its board of directors has effected, as of December 19, 2024, pursuant to the Company’s Pro Rata Redemption Plan, an initial pro rata redemption of an aggregate of $65,000,000, representing approximately $10.26 on a per share basis, based on a redemption price of $30.00 per common share of the Company (“Common Shares“), resulting in the redemption of 2,166,667 or approximately 34% of the outstanding Common Shares. Additional details regarding the Pro Rata Redemption Plan can be found in the Company’s management information circular dated October 31, 2024.
More information about FMIC is available under FMIC’s profile on SEDAR+ at www.sedarplus.com.
Forward-Looking Statements
This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements“) within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes.
Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond FMIC’s ability to predict or control which may cause actual events, results, performance, or achievements of FMIC to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although FMIC believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, FMIC assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise.
SOURCE Frontenac Mortgage Investment Corporation
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