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Atrium Mortgage Investment Corporation Completes $17.3 Million Public Offering and $10 Million Non-brokered Private Placement of Common Shares

Toronto, Ontario--(Newsfile Corp. - October 18, 2019) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB) (TSX: AI.DB.B) (TSX: AI.DB.C) (TSX: AI.DB.D) (TSX: AI.DB.E) is pleased to report that it has closed its previously announced public offering and non-brokered private placement offering of 1,288,000 common shares and 746,300 common shares, respectively, at a price of $13.40 per common share for gross proceeds of $17,259,200 and $10,000,420, respectively, representing total gross proceeds of $27,259,620. The public offering was completed with a syndicate of underwriters bookrun by TD Securities Inc. and RBC Capital Markets and co-led by CIBC Capital Markets, and including National Bank Financial Inc., BMO Capital Markets, Scotiabank, Canaccord Genuity Corp., Industrial Alliance Securities Inc., Raymond James Ltd. and Echelon Wealth Partners Inc. The underwriters of the public offering have exercised, in full, the previously announced over-allotment option granted to them by Atrium. Under non-brokered private placement offering, the common shares were acquired by an entity jointly controlled by two existing shareholders of Atrium.

Atrium will use the net proceeds of the offerings to repay existing indebtedness under its revolving operating credit facility, which will then be available to be drawn, as required, for general corporate purposes, particularly funding future mortgage loan opportunities.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States unless an exemption from registration is available. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Atrium in any jurisdiction.

About Atrium

Canada's Premier Non-Bank Lender™

Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters.

Atrium is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act (Canada), so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information, please refer to regulatory filings available at www.sedar.com or Atrium's website at www.atriummic.com.

For further information, please contact

Robert G. Goodall
President and Chief Executive Officer

Jennifer Scoffield
Chief Financial Officer

(416) 867-1053
info@atriummic.com
www.atriummic.com

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48878