Eclipse Residential Mortgage Investment Corporation
TSX : ERM

Eclipse Residential Mortgage Investment Corporation

November 17, 2014 09:15 ET

Eclipse Residential Mortgage Investment Corporation Announces Result of Annual Redemption

TORONTO, ONTARIO--(Marketwired - Nov. 17, 2014) - Eclipse Residential Mortgage Investment Corporation ("Eclipse") (TSX:ERM) announces that as of November 14, 2014, the expiry date for submitting Class A Shares to the annual redemption, the number of Class A Shares submitted for redemption exceeds the expected maximum number of Class A Shares that may be redeemed, which is 15% of the average number of Class A Shares outstanding for the 180-day period immediately preceding the December 30, 2014 annual redemption date. As a result, Eclipse will redeem Class A Shares submitted for redemption and not withdrawn or revoked, on a pro-rata basis such that each shareholder will receive approximately 37.7% of their total shares submitted for redemption in cash.

The Class A Share redemption payment will be made on January 15, 2015, and on or about that time, Class A shares submitted but not redeemed (due to the proration described above) will be returned to client accounts. The redemption price per Class A Share will be equal to the net asset value per Class A Share, less any costs associated with the redemption including commissions and other such costs, if any, related to the liquidation of any portion of the portfolio that is required to fund the redemption.

Eclipse will announce in early January 2015 the details of the pro-rata redemption.

About Brompton Funds

Brompton Funds, a division of Brompton Group, is an experienced investment fund manager operating since 2002. Brompton is focused on meeting the needs of investors by offering low cost, innovative products with client friendly terms and supported by strong corporate governance. 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 info@bromptongroup.com or visit our website at www.bromptongroup.com.

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 $45 billion in mortgage assets managed for banks, lifecos, credit unions and institutional investors.

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 eligible alternative market (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 www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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