Firm Capital Mortgage Investment Corporation Announces $22.5 Million Bought Deal Financing

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/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/TORONTO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the "Corporation") (TSX: FC) is pleased to announce that it has entered into an agreement to sell, on a bought deal basis, to
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the "Corporation") (TSX: FC) is pleased to announce that it has entered into an agreement to sell, on a bought deal basis, to a syndicate of underwriters bookrun by TD Securities Inc., CIBC Capital Markets and National Bank Financial Inc., 1,860,000 common shares of the Corporation (the "Shares") at a price of $12.10 per Share (the "Issue Price") for gross proceeds of $22,506,000. The Corporation has also granted the underwriters an over-allotment option to purchase up to 279,000 Shares at the Issued Price exercisable, in whole or in part, at any time until 30 days following the closing of the offering. If the over-allotment option is exercised in full, the gross proceeds of the offering will total $25,881,900.

The net proceeds of the offering will be used to repay indebtedness and for general corporate purposes.

The offering is expected to close on or about November 30, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.

A preliminary short-form prospectus will be filed by no later than November 16, 2020 with the securities regulatory authorities in all provinces of Canada. No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities…
Firm Capital Mortgage Investment Corporation
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