SHARBOT LAKE, ON, Nov. 8, 2011 /CNW/ - Frontenac Mortgage Investment
Corporation announced the resignation of Mr. Kevin Corcoran from the
Board of Directors.
Mr. Corcoran tendered his resignation on July 12, 2011 after having
dutifully served for several years. It was with great regret that the
organization accepted his resignation. His position on the Board of
Directors remains vacant.
FMIC, a mortgage investment corporation, is a fixed-income product that
offers investors an opportunity to generate as much income as possible
while preserving capital for re-investment. The corporation pools
investor funds and invests them into mortgages in Ontario -
historically in Eastern Ontario. FMIC invests in mortgages that
schedule A banks do not service, such as mortgages on homes that are
being constructed or renovated, mortgages for self-employed people or
people with distant credit problems, second homes and rural properties
with wells and septic systems.
The fund has been in existence in one form or another for 28 years and
has had only positive returns, generally between 6 - 7%.
The fund can be purchased by Financial Advisors on behalf of their
clients through FundServe. Individuals can contact our office at
1-877-279-2116 or through our website at www.fmic.ca. We encourage all investors to perform due diligence on any company,
advisor or broker before investing their money.
SOURCE Frontenac Mortgage Investment Corporation
For further information:
Wayne A. Robinson, CEO
Frontenac Mortgage Investment Corporation