SHARBOT LAKE, ON, July 5, 2012 /CNW/ - Frontenac Mortgage Investment Corporation is pleased to announce that further to its press release dated April 27, 2012, Frontenac Mortgage Investment Corporation ("FMIC") and Mortgage INVESTMENT Corporation of Eastern Ontario ("MICEO") have amalgamated effective July 1, 2012 under the laws of Canada, to form Frontenac Mortgage Investment Corporation (the "Company"), with each respective shareholder of FMIC and MICEO becoming a shareholder of the Company. Each FMIC shareholder is the holder of one (1) common share of the Company for every one (1) common share of FMIC held by the shareholder. Each MICEO shareholder is the holder of one (1) common share of the Company for every three (3) common shares of MICEO held by the shareholder.
FMIC and MICEO shareholders who have questions or require more information with respect to the amalgamation should contact the Corporate Secretary of the Company at (613) 279-2116.
The amalgamated corporation now has assets under management of over $100,000,000.00. The business model remains the same with investors pooling their funds and investing in mortgages on real property in Ontario and more recently, in Nova Scotia. FMIC is a prospectus product that is managed by W. A. Robinson Asset Management Ltd. (formerly W. A. Robinson & Associates Ltd.).
For further information: