Firm Capital Mortgage Investment Corporation Closes Bought Deal Offering of Common Shares

/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TSX Symbol: FC

TORONTO, Jan. 28, 2014 /CNW/ - Firm Capital Mortgage Investment Corporation (the "Corporation") (TSX: FC) today announced that it has completed the previously announced issue and sale of 1,955,000 common shares of the Corporation ("Common Shares") at a price of Cdn$12.10 per Common Share, including the exercise in full of the underwriters' over-allotment option, for aggregate gross proceeds to the Corporation of Cdn$23,655,500. The Common Shares are listed and posted for trading on the Toronto Stock Exchange under the symbol "FC". The offering was underwritten by a syndicate of underwriters led by TD Securities Inc. including National Bank Financial Inc., Desjardins Securities Inc., Dundee Securities Ltd., RBC Dominion Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp. and GMP Securities L.P.

The net proceeds of the offering will be used to repay a portion of the Corporation's indebtedness and for general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy Common Shares.  The Common Shares have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except in limited circumstances.

About Firm Capital Mortgage Investment Corporation

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. Lending activities to date continue to develop a diversified mortgage portfolio, producing a stable return to shareholders. 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 Firm Capital, available on the SEDAR website at www.sedar.com. In addition, supplemental information is available on Firm Capital's website at www.firmcapital.com.

Forward Looking Information

This press release may contain forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", and by discussions of strategies that involve risks and uncertainties. The forward-looking statements are based on certain key expectations and assumptions made by the Corporation regarding, among other things, the use of the net proceeds from the offering. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Although management of the Corporation believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that future results, levels of activity, performance or achievements will occur as anticipated. Neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements, and no one has any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or such other factors which affect this information, except as required by law.

SOURCE: Firm Capital Mortgage Investment Corporation

Firm Capital Mortgage Investment Corporation
Eli Dadouch
President & Chief Executive Officer
[phone]
www.firmcapital.com