Timbercreek Mortgage Investment Corporation announces filing of Notice of Meeting and Management Information Circular for Special Shareholders' Meeting on September 12, 2013

Toronto Stock Exchange: TMC

TORONTO, Aug. 19, 2013 /CNW/ - Timbercreek Mortgage Investment Corporation (the "Corporation") announced today that it has filed on SEDAR the Notice of Meeting and Management Information Circular in respect of a special meeting of all shareholders (the "Special Meeting") to be held at 3:00 p.m. EST on September 12, 2013 at Park Hyatt Toronto, 4 Avenue Road, Toronto, Ontario. The Notice of Meeting and Management Information Circular are being mailed to registered and beneficial shareholders of the Corporation, and are also available on www.sedar.com or through the link below:

Management Information Circular

As announced in a previous press release dated August 7, 2013, the board of directors of the Corporation has called the Special Meeting to, among other things, consider approving the Corporation's proposed transition (the "Proposed Transition") from the Canadian securities regulatory regime for investment funds ("Investment Fund Regime") to the regulatory regime for non-investment fund reporting issuers (the "Public Company Regime").

This decision is a pro-active response to the Canadian Securities Administrators' proposed regulatory changes to mortgage investment rules governing non-redeemable investment funds published on March 27, 2013.  The Board is of the view that the Proposed Transition provides shareholders a number of benefits, including:

• the Corporation's ability to continue its operation in accordance with existing investment objectives and strategies;
• the elimination of the trailer fee paid on Class A Shares will leave more of the income generated by the Corporation at any relevant time to be available for distribution to investors;
• the grant of typical shareholder voting rights;
• increased frequency of financial reporting;
• the potential for research analyst coverage which does not cover investment funds; and
• increased stability of capital resulting from the elimination of the redemption feature.

The Management Information Circular was prepared based on the public disclosure requirements under the Public Company Regime and includes disclosure regarding the Corporation, assuming completion of the Proposed Transition. The Management Information Circular also includes, for reference purposes, historical financial statements as well as unaudited condensed consolidated interim financial statements for the three months and six months ended June 2013, prepared in accordance with International Financial Reporting Standards, the accounting standards required by the Public Company Regime. The notes to the audited statements contain an explanation of how the transition from Canadian GAAP, the standards required for investment funds, to IFRS would affect the Corporation's financial position, financial performance and cash flows and a reconciliation of the IFRS and Canadian GAAP financial statements.

The Corporation will host a conference call for shareholders to discuss the Proposed Transition on Wednesday, August 21, 2013 at 11:00 a.m. EST.  The details for this call are as follows:

North America Toll-Free: 1-855-223-7310
International Dial-In (collect calls): [phone]
Conference Code: 34409184

Following the call, a replay will be accessible using the following dial-in information:

North America Toll-Free: 1-855- 859-2056
Conference Code: 34409184

SOURCE: Timbercreek Mortgage Investment Corporation

For further information on the Proposed Transition please contact:

the Corporation's solicitation agent: Laurel Hill Advisory Group:
Email: [email protected]
Telephone: [phone] (banks, brokers or collect calls)
North American Toll-Free: 1-877-452-7184

OR

Timbercreek Asset Management:
Email: [email protected]
Telephone: [phone] x 7250
North American Toll-Free: 1-866-898-8868 x 7250