Armada Mortgage Corp. Announces Increase in Dividend

Langley, British Columbia--(Newsfile Corp. - February 6, 2023) - Armada Mortgage Corp. ("Armada" or the "Company") is pleased to announce a monthly dividend increase to 6% in response to the company's steady growth. Shareholders have the option to have dividends paid out or DRIP (Dividend Reinvestment Plan) and converted into shares.

As of February 1st, Armada's Assets Under Management ("AUM") are nearing $48 million, with a growth of 16% over the last year. The Company's current average weighted Loan to Value ("LTV") is 43.1%, as Armada is lending more conservatively during the current market trend.

Despite the ongoing slowing of the housing market in BC, Armada continues to do well in terms of applications and business volume.

About Armada

Armada Mortgage Corporation is a Mortgage Investment Corporation ("MIC"), an alternative lender and exempt market product. The MIC invests in residential, construction, and serviced land mortgage loans secured by first and second mortgages, and in exceptional cases, third mortgages. Armada has generated a simple average rate of return of 6.82% since 2003 and is audited annually. Share purchases are made through an EMD partner company, Armada Wealth Management.

Armada is a MIC in accordance with the Canadian Income Tax Act ("The Act"). Per the Act, the MIC is not subject to income tax as it distributes all of its net income and net realized capital gains as dividends within the time period according to section 130.1.

For further information, please contact:

Arley Midgley
Dealer Representative
advisor@armadawealth.ca
604-467-6449 / 1-888-467-6449
armadamortgage.com

Disclosure: Armada relies on the OM exemption as per S.2.9 of National Instrument 45-106. This document does not include disclosure of all information investors require to make an informed decision. All investors should speak with their dealer representative. Current OM valid until 4/30/2023. This material is presented by Armada Mortgage Corporation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153440