Eclipse Residential Mortgage Investment Corporation

Eclipse Residential Mortgage Investment Corporation

January 05, 2016 15:35 ET

Eclipse Residential MIC Announces Details of Annual Redemption

TORONTO, ONTARIO--(Marketwired - Jan. 5, 2016) - Eclipse Residential Mortgage Investment Corporation ("Eclipse") (TSX:ERM) reports that each shareholder who submitted Class A Shares for redemption on December 30, 2015 will receive 50.4% of their total shares submitted for redemption in cash. The Class A Share redemption payment will be made on January 15, 2016, and on or about that time, Class A shares submitted but not redeemed (due to the proration) will be returned to client accounts.

Eclipse's investment objectives are to acquire and maintain a diversified portfolio comprised primarily of interests in single family residential mortgages that seeks to preserve capital and generate sufficient income to permit Eclipse to pay monthly distributions to the holders of the class A shares. The current distribution amount is $0.05417 per class A share per month representing a cash distribution of 7.1% per annum based on the closing market price on December 31, 2015. Since inception to December 31, 2015, Eclipse has paid cash distributions of $1.49 per share and has generated an annual compound return of 7.5%, which exceeds its benchmark, the DEX Short Term Bond Index, by 4.6% per annum(1). Eclipse offers a distribution reinvestment plan (DRIP) which provides investors with the ability to automatically reinvest distributions and realize the benefit of compound growth.

About Brompton Funds

Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2.0 billion in assets under management. Brompton's investment solutions include TSX listed closed-end funds, mutual funds, hedge funds and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email or visit our website at

About MCAP Financial Corporation

One of Canada's largest non-bank mortgage lenders, MCAP Financial Corporation originates and services all mortgages for Eclipse Residential MIC. MCAP has more than 20 years of experience underwriting and servicing Canadian Single Family Residential Mortgages, with over $52 billion in mortgage assets managed for banks, lifecos, credit unions and institutional investors.

(1) Please see for returns for all periods.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an "exchange"). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about Eclipse. You can find more detailed information about Eclipse in the public filings available at The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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