Timbercreek Senior Mortgage Investment Corporation Declares June 2016 Dividend

TORONTO, ON--(Marketwired - June 20, 2016) - Timbercreek Senior Mortgage Investment Corporation (TSX: MTG) (the "Company") is pleased to announce that its board of directors (the "Board") has declared a monthly dividend of $0.05 per common share ("Common Shares"), of the Company. The dividend will be paid on July 15, 2016 to holders of Common Shares of record on June 29, 2016.

As disclosed by the Company in the management information circular for the annual and special meeting of shareholders to be held on June 22, 2016 (the "Circular"), in connection with the proposed amalgamation of the Company and Timbercreek Mortgage Investment Corporation ("TMIC"), the Plan will be terminated effective as of today, June 20, 2016. As a result, the dividend paid on June 15, 2016 was the last dividend subject to reinvestment under the Plan. The dividend to be paid on July 15, 2016 will be paid in cash by Timbercreek Financial Corp. ("Timbercreek Financial"), the successor company resulting from the proposed amalgamation of the Company and TMIC (or by the Company, if the arrangement with TSMIC is not completed for any reason).

It is expected that following completion of the proposed amalgamation, Timbercreek Financial will adopt a dividend reinvestment plan that is substantially similar to the Plan (the "New Plan"). Additional information, including how shareholders can elect to participate in the New Plan, can be found in the Circular, which has been mailed to shareholders of the Company and is available under the Company's profile on SEDAR.

About the Company

The company provides investors with an opportunity to invest in a diversified portfolio of first only mortgages and loan investments originated and underwritten by the Timbercreek debt origination platform. The Company focuses on capital preservation and the generation of attractive, stable returns, allowing for the payment of monthly dividends to shareholders.