Frontenac Mortgage Investment Corporation amends its prospectus
SHARBOT LAKE, ON, Jan. 24, 2020 /CNW/ - Frontenac Mortgage Investment Corporation ("FMIC") obtained a receipt for an amendment to its prospectus dated January 21, 2019 relating to the continuous offering of its common shares.
Frontenac's prospectus dated January 21, 2019, as amended by prospectus amendment dated September 24, 2019, indicates that Frontenac will continue to distribute its common shares under its current investment funds prospectus in Form 41-101F2 until the earlier of (i) completion of the transition from an investment fund issuer to a corporate issuer, (ii) the net asset value of Frontenac exceeding $250 million, and (iii) the lapse date of Frontenac's current prospectus, being January 21, 2020.
The net asset value of Frontenac does not exceed $250 million and Frontenac has not yet completed its transition from an investment fund issuer to a corporate issuer. Frontenac has received regulatory approval to extend the lapse date of the Frontenac's prospectus from January 21, 2020 to March 31, 2020 in order to permit Frontenac to complete the transition from an investment fund issuer to a corporate issuer. Frontenac filed a second amendment to its prospectus to reflect the extension of the lapse date and has received a receipt for the second amendment to its prospectus. Frontenac's prospectus, as amended, now indicates that Frontenac will continue to distribute its common shares under its prospectus in Form 41-101F2 (prospectus form for investment funds) until the earlier of (i) completion of the transition from an investment fund issuer to a corporate issuer; (ii) the Net Asset Value of Frontenac exceeding $250 million; and (iii) the lapse date of Frontenac's Prospectus, being March 31, 2020.
SOURCE Frontenac Mortgage Investment Corporation
Frontenac shareholders who have questions or require more information should contact Frontenac's manager, W.A. Robinson Asset Management Ltd., at 1-877-279-2116.
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