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This news release is not intended for distribution to U.S. newswire services or for dissemination in the United States.
TORONTO, March 12, 2024 (GLOBE NEWSWIRE) — Timbercreek Financial Corporation (TSX: TF) (“timbercreek financial” or “company”) today announced that it has re-established its market-time equity program (”).ATM programThis allows the Company to issue common stock from treasury stock (“common stock”) with total sales of up to $90 million (“maximum amount”) may be published from time to time in our discretion. The ATM Program has been established pursuant to a prospectus supplement dated hereof (“Supplement to the prospectus”) and all provinces and territories of Canada, filed in the Base Shelf Prospectus dated March 5, 2024 (“Basic shelf prospectus”, and together with the prospectus supplement, “prospectus”).
Sales of Common Stock through the ATM Program will be made pursuant to and subject to the terms of the Stock Distribution Agreement dated the date hereof (“stock distribution agreement”) Partnered with National Bank Financial Inc.
Sales of common stock will be made through “market distributions” as defined in National Instrument 44-102. distribution of shelvesincluding sales made directly on the Toronto Stock Exchange (“TSX”). Common stock will be distributed under the ATM Program at the prevailing market price at the time of sale, so the price may fluctuate among purchasers and over time. The ATM Program is subject to change at the Company’s discretion. begins and ends on the earlier of the Highest Distribution Date and April 6, 2026.
Chief Executive Officer Blair Tamblyn said: “As we outlined in our year-end results, we are excited about the opportunity to emerge from this extended period of economic uncertainty, deliver increasingly strong returns to our shareholders and refocus on growth. “I am doing so,” he said. Director of Timber Creek Financial. “The ATM program allows us to efficiently add equity capital to our balance sheet when it is beneficial to our shareholders.”
The Company currently intends to use the net proceeds, if any, of its ATM program for general investment and working capital purposes, including, as required, repayments under its secured revolving credit facility. is. This credit facility is used to fund our day-to-day working capital requirements and other general corporate purposes, particularly mortgage loans.
A prospectus supplement is filed with the securities commissions of all Canadian provinces and territories, along with the base prospectus. The prospectus contains important details about the securities being offered. Before investing, please read the prospectus and other documents filed by the Company for more complete information about the Company and the ATM Program. Copies of the stock distribution agreement and prospectus are available from the company profile below. www.sedarplus.ca.
About Timbercreek Financial
Timbercreek Financial is a leading non-bank commercial real estate lender providing short-term structured finance solutions to commercial real estate investors. Our sophisticated, service-oriented approach allows us to meet the needs of our borrowers, including faster execution and more flexible terms not typically offered by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we meet these needs while targeting high risk-adjusted returns for our investors.
Disclaimer
This news release contains “forward-looking statements” within the meaning of that term under Canadian securities legislation. This includes, but is not limited to, the anticipated sale of common stock through the ATM program and the planned use of proceeds from the ATM program. As used in this news release, “may”, “will”, “should”, “could”, “will”, “intend”, “plan”, Words such as “anticipate,” “believe,” “estimate,” “expect,” “objective,” and similar expressions may be used to identify forward-looking statements. By their nature, forward-looking statements reflect the Company’s current views, beliefs, assumptions and intentions and are subject to certain known and unknown risks, including, but not limited to, the risks disclosed in the Company’s public filings. Subject to risks and uncertainties. Many factors could cause actual results, performance or achievements to differ materially from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. We do not intend, and undertake no obligation, to update these forward-looking statements, whether as a result of new information, plans, events or otherwise, except as required by law.
contact:
timbercreek financial
Blair Tamblyn
chief executive officer
btamblyn@timbercreek.com
www.timbercreekfinancial.com
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