Builders Capital Mortgage Corp.

Builders Capital Mortgage Corp.

July 27, 2016 16:26 ET

Builders Capital Mortgage Corp. Announces Intention to Complete Class A Non-Voting Share Private Placement

CALGARY, ALBERTA--(Marketwired - July 27, 2016) - Builders Capital Mortgage Corp. (the "Company") (TSX VENTURE:BCF) is pleased to announce that it has engaged an agent, Wealth Creation Corporation (the "Agent"), in connection with the sale of up to 40,000 Class A non-voting shares at a price of $10.00 per Share for aggregate gross proceeds to the Company of up to $400,000 (the "Private Placement").

The Agent will be paid a commission of 5% on the gross proceeds raised under the Private Placement. The offering is scheduled to close on or about August 2, 2016 and is subject to normal approvals by the TSX Venture Exchange. No new control persons will be created as a result of this private placement.

The majority of the proceeds from the Private Placement will be used to fund additional loans to approved members of the home construction industry and to add to working capital.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Builders Capital Mortgage Corp.
    John Strangway
    Chief Financial Officer
    (403) 685-9888