Firm Capital Mortgage Investment Corporation Announces Election of Directors
June 14, 2023 at 01:34 am IST
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TORONTO, June 13, 2023 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX: FC) today announced that at the annual and special meeting (the “Meeting”) of shareholders of the Corporation held earlier today, all director nominees were elected as directors of the Corporation, as follows:
Nominee
Votes “For”
% Votes “For”
Votes “Against”
% of Votes “Against”
Geoffrey Bledin
8,001,305
98.32%
136,698
1.68%
Eli Dadouch
8,031,760
98.69%
106,243
1.31%
Morris Fischtein
7,499,507
92.15%
638,496
7.85%
Stanley Goldfarb
7,518,732
92.39%
619,271
7.61%
Victoria Granovski
7,959,706
97.81%
178,297
2.19%
Anthony Heller
7,504,125
92.21%
633,878
7.79%
Jonathan Mair
7,986,271
98.14%
151,732
1.86%
Hon. Francis Newbould
8,003,476
98.35%
134,527
1.65%
Hon. Joe Oliver, P.C.
7,991,738
98.20%
146,265
1.80%
Keith Ray
8,001,096
98.32%
136,907
1.68%
Lawrence Shulman
7,529,860
92.53%
608,143
7.47%
Michael Warner
7,971,188
97.95%
166,815
2.05%
* The number of votes disclosed reflects proxies received by management of the Corporation in advance of the Meeting.
All other matters considered by shareholders at the Meeting were also approved, the details of which are contained in the Report on Voting Results regarding the Meeting filed by the Corporation on SEDAR at www.sedar.com.
ABOUT THE CORPORATION
Where Mortgage Deals Get Done®
The Corporation, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The Corporation's investment objective is the preservation of shareholders' equity, while providing shareholders with a stable stream of monthly dividends from investments. The Corporation achieves its investment objectives through investments in selected niche markets that are under-serviced by large lending institutions. The Corporation is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act (Canada). Accordingly, The Corporation is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. Full reports of the financial results of the Corporation for the year are outlined in the audited financial statements and the related management discussion and analysis of Corporation, available on the SEDAR website at www.sedar.com. In addition, supplemental information is available on Corporation’s website at www.firmcapital.com.
For further information, please contact:
Firm Capital Mortgage Investment Corporation Eli Dadouch President & Chief Executive Officer (416) 635-0221
Source: Firm Capital Mortgage Investment Corporation
Firm Capital Mortgage Investment Corporation is a Canada-based company. The Company, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing. It specializes in three investment areas: Mortgage Operations, Real Estate Operations and Special Situation Investments. Its investment objective is the preservation of shareholders' capital while providing shareholders with a stable stream of monthly dividends from the Company's investments. The Company achieves its investment objectives by pursuing a strategy of growth through investments in selected niche markets that are under-serviced by large lending institutions. FCC provides loan origination, underwriting, loan servicing, and syndication services. Its investment portfolio includes conventional first mortgages; conventional non-first mortgages; related debt investments; debtor in possession loan, and non-conventional mortgages.