Trez Capital Mortgage Investment Corp. To Trade On Toronto Stock Exchange
Trez Capital Mortgage Investment Corporation (the "Company") – An application has been granted for the original listing in the Industrial category of up to 11,500,000 Class A Shares of the Company, of which up to 10,000,000 Class A Shares will be issued and outstanding and up to 1,500,000 Class A Shares will be reserved for issuance upon completion of an initial public offering (the "Offering").
Listing of the Class A Shares will become effective at 5:01 p.m. on Friday, June 1, 2012 in anticipation of the Offering closing on Monday, June 4, 2012. The Class A Shares will be posted for trading at the opening on Monday, June 4, 2012.
Registration of interests in and transfers of the Class A Shares will be made solely through the book-entry only system maintained by CDS Clearing and Depository Services Inc. ("CDS"). Class A Shares must be purchased, transferred and surrendered for redemption through a CDS Participant. Upon the acquisition of Class A Shares, the owner will receive only the customary confirmation.
Additional information on the Class A Shares may be found in the Company's final prospectus dated May 25, 2012 (the "Prospectus") which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.
Stock Symbol: "TZZ" CUSIP: 89532L 10 3 Trading Currency: CDN$
Market Maker: National Bank Financial Inc.
Other Markets: None
Telephone Number: (416) 350-1299
Fax Number: (416) 350-1268
Chief Financial Officer
& Corporate Secretary: Alexander (Sandy) Manson
Chief Executive Officer: Michael J.R. Nisker
Investor Relations: Michael J.R. Nisker
Manager: Trez Capital Limited Partnership
Incorporation: The Company was incorporated under the Canada Business Corporation Act pursuant to articles of incorporation dated April 18, 2012.
Fiscal Year End: December 31
Nature of Business: The Company will acquire and maintain a diversified portfolio of Mortgages that preserves capital and generates attractive returns in order to permit the Company to pay monthly distributions to its shareholders. The Company will seek to accomplish its investment objectives through prudent investments in Mortgages to qualified real estate investors and developers, focusing primarily on short-term bridge financing needs not currently serviced by traditional real estate lenders. Mortgages will be secured primarily by income producing Real Property where the principal and interest can be serviced from cash flow generated by the underlying Real Property.
Transfer Agent &
Registrar: Computershare Trust Company of Canada at its principal office in Toronto.
Distributions: The Company intends to make monthly cash distributions to Class A Shareholders of record on the last business day of each month and pay such cash distributions on or before the 15th day of the following month. The Company has the right to determine a record date that is other than the last business day of each month. Beginning in September 2013, the Company will annually determine and announce the Indicative Distribution Amount for the following 12 months based upon the prevailing market conditions. The initial Indicative Distribution Amount will be approximately $0.0583 per Class A Share per month ($0.70 per annum representing an annual cash distribution of 7.0% based on the $10.00 per Class A Share issue price). The initial cash distribution is anticipated to be payable on or before September 15, 2012 to Class A Shareholders of record on August 31, 2012.
Public Offering: Pursuant to the terms of the Prospectus, RBC Dominion Securities Inc., Canaccord Genuity Corp., CIBC World Markets Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., Raymond James Ltd., Macquarie Private Wealth Inc., Desjardins Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated, as agents, are offering to the public up to 11,500,000 Class A Shares (which includes 1,500,000 Class A Shares issuable upon exercise of the Over-Allotment Option) at a price of $10.00 per Class A Share.