Trez Capital Mortgage Investment Corporation Files Preliminary Prospectus for New Offering
/NOT FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Aug. 3, 2012 /CNW/ - Trez Capital Mortgage Investment Corporation (the "Company") announced today that it has filed a preliminary prospectus relating to a new offering of up to $100 million of Class A Shares in all the provinces and territories of Canada. The Company's outstanding Class A Shares are listed and posted for trading on the Toronto Stock Exchange under the symbol "TZZ". The syndicate of agents (the "Agents") for the offering is being led by RBC Dominion Securities Inc.
The objectives of the Company are to acquire and maintain a diversified portfolio of mortgages on real property in Canada that preserves capital and generates attractive returns in order to permit the Company to pay monthly distributions to its shareholders. The initial amount of the monthly distributions will be approximately $0.0583 per Class A Share ($0.70 per annum) representing an annual cash distribution of 7.0% based on the $10 price at which Class A Shares were issued during the Company's initial public offering earlier this year. The Company seeks to accomplish its investment objectives through prudent investments in mortgages on real property in Canada to qualified real estate investors and developers, focusing primarily on short-term bridge financing needs not currently serviced by traditional real estate lenders. Trez Capital Fund Management Limited Partnership is the manager of and portfolio advisor to the Company.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in the United States, nor shall there be any sale of the securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws. This press release contains forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results, performance and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The preliminary prospectus contains important information relating to these securities, but remains subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the Agents named above. There will not be any sale or acceptance of an offer to buy the securities until a receipt for the Company's final prospectus has been issued.
SOURCE: Trez Capital Mortgage Investment Corporation
Mr. Michael J.R. Nisker
President and Chief Executive Officer
Trez Capital Mortgage Investment Corporation
Tel: (416) 350-1299
E-mail: [email protected]
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