TORONTO, June 15, 2020 (GLOBE NEWSWIRE) -- In light of the continuing COVID-19 pandemic and guidance from government and public health authorities, Firm Capital Mortgage Investment Corporation (the “Corporation”) (FC.TO) is providing an update on it upcoming annual meeting of shareholders (the “Meeting”) to be held on Tuesday, June 23, 2020 at 12:30 p.m. (Toronto time).
Given the current circumstances, the location of the Meeting will be the Corporation’s head office, located at 163 Cartwright Avenue, Toronto, Ontario, Canada M6A 1V5. The Corporation will be strictly restricting physical access to the Meeting to registered shareholders and formally appointed proxyholders and will not be permitting any others (including beneficial shareholders that hold their shares through a broker or other intermediary) to attend. The Corporation intends to resume holding in-person shareholders’ meetings in subsequent years.
The Corporation strongly encourages registered shareholders and proxyholders not to attend the Meeting in-person, and shareholders are encouraged to vote using one of the methods described in the management information circular previously mailed to shareholders. The deadline for shareholders to vote by proxy in advance of the Meeting is Friday, June 19, 2020 at 12:30 p.m. (Toronto time). Registered shareholders and proxyholders who nonetheless wish to attend in person may be subject to health screening procedures at the entrance and will be asked to socially distance themselves from others at the Meeting.
Shareholders and any other interested persons who are unable or not permitted to attend the Meeting in person have the opportunity to listen to the Meeting live through an audio conference call. Registration to participate in the live call should be completed by following the link provided on the Corporation’s website at www.firmcapital.com and, once registered, call-in details will be provided.
Following the formal proceedings of the Meeting, management will provide a business update and presentation. All interested parties are invited to listen to the management update.
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. Lending activities to date continue to develop a diversified mortgage portfolio, producing a stable return to shareholders. 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 Corporation 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 the Corporation, available on the SEDAR website at www.sedar.com. In addition, supplemental information is available on the Corporation’s website at www.firmcapital.com.
For further information, please contact:
Firm Capital Mortgage Investment Corporation
President & Chief Executive Officer (416) 635-0221
Boutique Mortgage Lenders®