VANCOUVER, Oct. 26, 2012 /CNW/ - Trez Capital Senior Mortgage Investment Corporation (the "Company") announced today that it has filed a preliminary prospectus with the securities regulators in each of the provinces and territories of Canada for a proposed distribution of Class A Shares (the "Shares") at an issue price of $10.00 per Share.
The objectives of the Company are to acquire and maintain a diversified portfolio of first ranking Mortgages that preserves capital and generates attractive returns in order to permit the Company to pay monthly distributions to its shareholders.
The initial amount of the monthly distributions will be approximately $0.0417 per Share ($0.50 per annum) representing an annual cash distribution of 5.0% based on the $10.00 per Share issue price. Trez Capital Fund Management Limited Partnership is the manager of and portfolio advisor to the Company.
The syndicate of agents for the offering is being co-led by RBC Dominion Securities Inc., CIBC World Markets Inc. and Canaccord Genuity Corp., and also includes BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Macquarie Private Wealth Inc., Raymond James Ltd., GMP Securities L.P. and Manulife Securities Incorporated (the "Agents").
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in the United States, nor shall there be any sale of the securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws. This press release contains forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results, performance and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The preliminary prospectus contains important information relating to these securities, but remains subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the Agents named above. There will not be any sale or acceptance of an offer to buy the securities until a receipt for the Company's final prospectus has been issued.
SOURCE: Trez Capital Senior Mortgage Investment Corporation
For further information:
Mr. Michael J.R. Nisker
President & Chief Executive Officer
Trez Capital Senior Mortgage Investment Corporation
Tel: (416) 350-1299
E-mail: [email protected].