SOURCE: Timbercreek Mortgage Investment Corporation

Timbercreek Mortgage Investment Corporation logo

May 26, 2016 17:30 ET

Timbercreek Mortgage Investment Corporation Appoints Craig Geier as Chief Financial Officer Effective June 1, 2016

TORONTO, ON--(Marketwired - May 26, 2016) - Timbercreek Mortgage Investment Corporation (TSX: TMC) ("TMIC" or the "Company") is pleased to announce that its board of directors (the "Board") has appointed Craig Geier as chief financial officer ("CFO") of the Company effective June 1, 2016. The Company's current CFO, David Melo, will step down from this position effective June 1, 2016 allowing Mr. Melo to focus on his other responsibilities within the Timbercreek Asset Management group. As CFO, Mr. Geier will be responsible for overseeing financial and taxation reporting, treasury and corporate financings for the Company. Mr. Geier will remain a director of the Company but will resign as the chairman and member of the audit committee of the Company. The Company will determine and appoint a new audit committee chair following the completion of the annual and special meeting of shareholders to be held on June 22, 2016.

In addition to Mr. Geier's time spent with the Company as Independent Director and Audit Committee Chair, he has held CFO positions in the mineral resource sector at Sulliden Exploration Inc. and Energold Drilling Corp. Mr. Geier also has 23 years' experience in the commercial real estate industry holding senior positions at Residential Equities REIT, TrizecHahn Inc. and BCE Development Corporation. Mr. Geier has an Honours of Business Administration degree from University of Western Ontario.

"Craig has been a valuable contributor in his role as director for the Company since its inception in 2008," states Blair Tamblyn, Chairman of the Company. "We are looking forward to working with Craig in his new role as CFO and have confidence that his knowledge and passion for the business, along with his financial management experience makes him the best candidate for this position."

"Furthermore, we would like to thank David for his commitment and contribution to the Company," states Mr. Tamblyn. "David has been a key contributor to the Company's success and an integral team member leading financial operations since the Company's inception and as CFO since 2014."

About TMIC

TMIC provides investors with an opportunity to invest in a diversified portfolio of mortgage and loan investments originated and underwritten by their manager, Timbercreek Asset Management Inc. ("TAMI"). TMIC focuses on capital preservation and the generation of attractive, stable returns, allowing for the payment of monthly dividends to shareholders.

Disclaimers

This news release contains forward-looking statements about TMIC. Forward-looking statements are typically identified by words such as "expect", "is scheduled" ,"anticipate", "believe", "foresee", "could", "intend", "plan", "seek", "strive", "will", "may", "potential" and "should" and similar expressions concerning matters that are not historical facts. Some of the specific forward-looking statements in this news release include, but are not limited to, statements with respect to the completion of the proposed arrangement. TMIC has based these forward-looking statements on factors and assumptions about current conditions and expected future developments in relation to the proposed transaction. There can be no assurance that the proposed arrangement will occur or any anticipated appointment will occur. The proposed arrangement is subject to various regulatory approvals and the fulfillment of certain other conditions, including shareholder approvals, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.

Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect TMIC's, expectations only as of the date of this press release. TMIC disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information