BUILDERS CAPITAL MORTGAGE CORP. ANNOUNCES COMPLETION OF PRIVATE PLACEMENT OF CLASS A NON-VOTING SHARES
Calgary, Alberta –July 25, 2017 – Builders Capital Mortgage Corp. (TSX-V – BCF) (“Builders Capital”) is pleased to announce that it has completed a non-brokered private placement of 50,000 Class A Non-Voting Shares at a price of $10.00 per share for gross aggregate proceeds of $500,000.
A finder’s fee of 5% of the gross proceeds of will be paid in connection with this private placement. The Class A Non-Voting Shares issued under this private placement are subject to a four month hold period which will expire on November 26, 2017.
The majority of the proceeds from the Private Placement will be used to fund additional loans to approved members of the home construction industry and to add to working capital.
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.