Builders Capital Mortgage Corp. Announces Class A Non-Voting Share Redemptions
Calgary, Alberta--(Newsfile Corp. - December 11, 2019) - Builders Capital Mortgage Corp. (TSXV: BCF) ("Builders Capital") today announced that, in accordance with its share terms which allow for once per year share redemptions, it has received share redemption requests for a total of 11,500 Class A Non-Voting shares. The shares were redeemed, and the redemption amount of $102,580.00, being 95% of the October 31, 2019 Net Asset Value per share, was paid on November 30, 2019.
Sandy Loutitt, CEO stated, "The redemption feature in our share terms is intended to create a floor for our share price as well as to provide liquidity for our investors. We're happy that the mechanism put in place to create additional liquidity is effective."
For further information, please contact:
John Strangway, Chief Financial Officer
Telephone: (403) 685-9888
Builders Capital Mortgage Corp.
Suite 405, 1210 - 8th Street SW
Calgary, Alberta T2R 1L3
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50702