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Firm Capital Mortgage Investment Corporation Announces Election of Directors

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Firm Capital Mortgage Investment Corporation
Firm Capital Mortgage Investment Corporation

/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, June 14, 2022 (GLOBE NEWSWIRE) --  Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX: FC) today announced that at the annual and special meeting (the “Meeting”) of shareholders of the Corporation held earlier today, all director nominees were elected as directors of the Corporation, as follows:

Nominee

Votes “For”

% Votes “For”

Votes “Withheld”

% of Votes “Withheld”

Geoffrey Bledin

9,295,646

88.14

%

1,250,707

11.86

%

Eli Dadouch

9,316,361

88.34

%

1,229,992

11.66

%

Morris Fischtein

8,969,539

85.05

%

1,576,814

14.95

%

Stanley Goldfarb

8,850,511

83.92

%

1,695,842

16.08

%

Victoria Granovski

9,296,179

88.15

%

1,250,174

11.85

%

Anthony Heller

8,968,404

85.04

%

1,577,949

14.96

%

Jonathan Mair

9,231,404

87.53

%

1,314,949

12.47

%

Hon. Francis Newbould

9,289,547

88.08

%

1,256,806

11.92

%

Hon. Joe Oliver, P.C.

9,235,690

87.57

%

1,310,663

12.43

%

Keith Ray

9,265,116

87.85

%

1,281,237

12.15

%

Lawrence Shulman

9,252,950

87.74

%

1,293,403

12.26

%

Michael Warner

9,283,416

88.02

%

1,262,937

11.98

%

*   The number of votes disclosed reflects proxies received by management of the Corporation in advance of the Meeting.

The other matters voted on by shareholders at the Meeting, being the re-appointment of the auditors and the re-approval of the stock option plan of the Corporation, were also approved, the details of which are contained in the Report on Voting Results regarding the Meeting filed by the Corporation on SEDAR at www.sedar.com.

ABOUT THE CORPORATION

Where Mortgage Deals Get Done®

The Corporation, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The Corporation's investment objective is the preservation of shareholders' equity, while providing shareholders with a stable stream of monthly dividends from investments. The Corporation achieves its investment objectives through investments in selected niche markets that are under-serviced by large lending institutions. The Corporation is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act (Canada). Accordingly, The Corporation is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. Full reports of the financial results of the Corporation for the year are outlined in the audited financial statements and the related management discussion and analysis of Corporation, available on the SEDAR website at www.sedar.com. In addition, supplemental information is available on Corporation’s website at www.firmcapital.com.

For further information, please contact:

Firm Capital Mortgage Investment Corporation
Eli Dadouch
President & Chief Executive Officer
(416) 635-0221