Brookfield Investments Corporation

Brookfield Investments Corporation

December 22, 2015 16:30 ET

Brookfield Investments Corporation Announces Preferred Share Guarantee and Change in Reporting Obligations

TORONTO, ONTARIO--(Marketwired - Dec. 22, 2015) - Brookfield Investments Corporation (TSX VENTURE:BRN.PR.A) (the "Company") announced today that its sole common shareholder, Brookfield Asset Management Inc. ("Brookfield") has provided a full and unconditional subordinated guarantee of the Company's outstanding Class 1 Senior Preferred Shares, Series A (the "Preferred Shares"), other than those held by Brookfield or its affiliates. At the time of entering into the Guarantee, the Company has C$150 million of Preferred Shares outstanding, of which Brookfield or its affiliates own C$108 million, with the remaining C$42 million publicly held. As a result, the Company will be entitled to rely on an exemption from the requirements to file certain continuous disclosure documents with Canadian securities regulators, including financial statements, on the basis that holders of the Preferred Shares will have access to certain continuous disclosure filings on Brookfield as the guarantor. Certain financial information of the Company will be included in the consolidated summary financial information in Brookfield's consolidated annual financial statements and interim reports going forward. This will simplify the Company's reporting requirements and reduce costs.

The Guarantee will terminate (subject to any existing rights or claims at the time of such termination) upon among other things, the date that no Preferred Shares are outstanding or the date the Company commences filing its own continuous disclosure materials with Canadian securities regulators. A copy of the Guarantee has been filed on SEDAR under the profile of the Company. Investors should refer to that filing for the complete terms of the Guarantee.

Brookfield Investments Corporation holds investments in the property and forest products sectors. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc. Brookfield Asset Management Inc. is a global alternative asset manager with approximately $225 billion in assets under management, has more than a 100-year history of owning and operating assets with a focus on property, renewable energy, infrastructure and private equity and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and BAM.A, respectively.

Contact Information

  • Brookfield Investments Corporation
    Derek Gorgi
    Vice President and Chief Financial Officer