PrimeWest Mortgage Investment Corporation - Annual General Meeting and Dividends

SASKATOON, June 9, 2016 /CNW/ - PrimeWest Mortgage Investment Corporation ("PrimeWest" or the "Corporation"), a mortgage investment corporation, announced today that at the Annual General Meeting held on June 8, 2016 the matters voted on by the shareholders were decided as follows:

• The Board of Directors, which is fixed at five in number, was elected as follows:
  
  
  • Thomas Archibald
  • Francis Bast
  • Doug Frondall
  • Tom Robinson
  • Barbara Klassen
    
    
• Ernst & Young LLP were appointed to serve as auditors of the Corporation until the close of the next annual general meeting, with the Board of Directors being authorized to fix the remuneration of the auditors.

The Corporation also announces that the Board of Directors has declared a dividend distribution of $0.20 per Class A share of the Corporation. The distribution will be paid on June 30, 2016 to holders of Class A shares of record on May 15, 2016.

The Board of Directors of PrimeWest looks forward to overseeing the management and conduct of PrimeWest as it continues its growth as a mortgage investment corporation in Saskatchewan."

About PrimeWest Mortgage Investment Corporation

PrimeWest is based in Saskatoon, Saskatchewan, and is a Mortgage Investment Corporation. PrimeWest is a reporting issuer in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. The Corporation's Class A common shares are listed for trading on the Canadian Securities Exchange under symbol PRI.

PrimeWest was incorporated as a Mortgage Investment Corporation in 2005. The Corporation has been successful in providing a consistent dividend return of 8% for Investors, paid 2% quarterly, and not missing or reducing dividend yield since incorporation.

PrimeWest's success has positioned it for growth, notwithstanding current economic conditions both regionally and nationally. The Corporation is confident the current business conditions are excellent to increase its shareholder investor base and expand its mortgage investments in the Prairie Provinces.

SOURCE PrimeWest Mortgage Investment Corporation

Thomas Archibald or Doug Frondall, Interim Co-Presidents & Co-CEOs, Telephone No. [phone], E-mail: [email protected] or [email protected]; Visit our website: www.primewest.ca