Abode Mortgage Corporation

Abode Mortgage Corporation

November 13, 2008 17:03 ET

Abode Mortgage Corporation Obtains $300,000 Working Capital Loan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2008) - Abode Mortgage Holdings Corp. (TSX VENTURE:ABD) announced today that its wholly owned subsidiary Abode Mortgage Corporation, has borrowed $300,000 from insiders and existing shareholders. The unsecured loans were obtained to provide working capital for the organization and are to be repaid in full from the next sale of whole loan mortgages or on demand, whichever comes first. No fees were charged by the lenders and the loans attract an interest rate of 12% per annum.

About Abode Mortgage Holdings Corp.

Abode Mortgage Holdings Corp. is a publicly traded company on the TSX Venture Exchange under the symbol ABD, and through its wholly owned subsidiary, Abode Mortgage Corporation, provides residential mortgage financing to Canadians in the markets we serve. Headquartered in Vancouver, Abode Mortgage Corporation is delivering a new standard of service excellence to the Canadian residential mortgage industry by providing simplified products, consistent underwriting decisions, competitive pricing and compensation programs. The company launched its lending operations in Western Canada and recently expanded into the Province of Ontario.

Information about Abode Mortgage Corporation is available on the Internet at: www.abodecorp.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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