Frontenac Mortgage Investment Corporation Announces Filing of Management Information Circular in Connection with its Special Meeting of Shareholders

SHARBOT LAKE, ON, Nov. 19, 2024 /CNW/ - Frontenac Mortgage Investment Corporation ("FMIC" or the "Company") announced today that it has filed its management information circular (the "Circular") and related documents (collectively, the "Meeting Materials") in connection with its previously announced special meeting of shareholders ("Shareholders") of the Company to be held on December 18, 2024 at 2 p.m. (Eastern Standard Time) (the "Meeting").

The Meeting Materials are now available under FMIC's profile on SEDAR+ at www.sedarplus.ca, as well as at Computershare's website at http://www.computershare.com/Frontenac and at FMIC's website at fmic.ca. The Company has elected to utilize the notice-and-access provisions adopted by Canadian Securities Administrators which allows FMIC to post the Meeting Materials online, rather than mailing paper copies of such Meeting Materials to Shareholders. The Company has commenced the process of mailing Meeting Materials to Shareholders who have requested to receive paper copies of the Meeting Materials.

The purpose of the Meeting is for Shareholders to consider, and if deemed advisable, to pass, with or without amendment: (i) a special resolution to approve the orderly wind-up of the Company pursuant to an orderly wind-up plan (the "Orderly Wind-Up Plan"); and (ii) a special resolution to confirm and approve amendments to the articles of FMIC necessary to implement a pro rata redemption plan (the "Pro Rata Redemption Plan", and collectively with the Orderly Wind-Up Plan, the "Resolutions"), each as detailed further in the Circular.

Each of the Resolutions require the approval of at least two-thirds (2/3) of the votes cast by the holders of common shares of the Company, present or represented by proxy at the Meeting.

Recommendation of the Board of Directors

FMIC's board of directors, following advice from its financial and legal advisors, and after conducting a review of strategic alternatives available to the Company, recommends that FMIC's shareholders vote in favour of the Resolutions.

Your Vote is Important

Shareholders are encouraged to read the Circular in its entirety and vote their shares as soon as possible, in accordance with the instructions included in the form of proxy or voting instruction form delivered to Shareholders. The deadline for voting shares by proxy is 4 p.m. (Eastern Standard Time) on December 16, 2024.

The Meeting

The Meeting will be held on December 18, 2024 at 2 p.m. (Eastern Standard Time), subject to any adjournment or postponement thereof in-person at the DoubleTree Hotel at 1550 Princess St., Kingston, Ontario K7M 9E3 and online via live webcast at meetnow.global/MD9F99Y. The record date for determining the Shareholders entitled to receive notice of and vote at the Meeting was October 31, 2024. 

More information about FMIC is available under FMIC's profile on SEDAR+ at www.sedarplus.ca.

Forward-Looking Statements

This press release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.

Forward-looking statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors beyond FMIC's ability to predict or control which may cause actual events, results, performance, or achievements of FMIC to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking statements herein. Forward-looking statements are not a guarantee of future performance. Although FMIC believes that any forward-looking statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such statements, there can be no assurance that any such forward-looking statements will prove to be accurate. Actual results may vary, and vary materially, from those expressed or implied by the forward-looking statements herein. Accordingly readers are advised to rely on their own evaluation of the risks and uncertainties inherent in forward-looking statements herein and should not place undue reliance upon such forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Any forward-looking statements herein are made only as of the date hereof, and except as required by applicable laws, FMIC assumes no obligation and disclaims any intention to update or revise any forward-looking statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking statements herein, whether as a result of new information, future events or results, or otherwise.

SOURCE Frontenac Mortgage Investment Corporation

For more information, please contact: Amber Kehoe, Corporate Secretary, Frontenac Mortgage Investment Corporation, 1-877-279-3061 Ext. 105