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Timbercreek Senior Mortgage Investment Corp Files Final Prospectus for $100,000,007 Maximum Offering

Monday, 17 Dec 2012 06:16pm EST 

Timbercreek Senior Mortgage Investment Corp announced that it has filed a final prospectus (the Prospectus) dated December 14, 2012 , with the securities regulatory authorities in each of the provinces and territories of Canada , and a receipt therefor has been obtained. The Prospectus qualifies the distribution (the "Offering") of up to 10,152,285 Class A shares ("Class A Shares") or up to 10,000,000 Class B shares ("Class B Shares") of the Company (or any combination thereof, subject to the maximum offering amount), at a price of $9.85 per Class A Share and $10.00 per Class B Share, for total gross proceeds of $100,000,007 . The Class B Shares are designed for fee-based accounts with a registered dealer or institutional investors and will not be listed on a stock exchange, but are convertible into Class A Shares. The outstanding Class A Shares are listed and posted for trading on the Toronto Stock Exchange under the symbol "MTG". The Offering is scheduled to close on or about January 8 , 2013. The Company will use a substantial amount of the net proceeds of the Offering to pay down amounts owed under its credit facility. The Company intends to use substantially all of the remaining balance of the net proceeds to fund investments in, and other costs associated with, first mortgages with customized terms (Customized First Mortgages) in a manner consistent with the investment objectives and the investment strategies of the Company. 

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