CALGARY, Alberta, March 27, 2019 (GLOBE NEWSWIRE) -- Builders Capital Mortgage Corp. (the "Company") (TSXV:BCF) is pleased to announce that it intends to complete a non-brokered private placement for the sale of up to 140,000 Class A non-voting shares at a price of $10.00 per Share for aggregate gross proceeds to the Company of up to $1,400,000 (the "Private Placement").
A finder's fee of up to 2% of the gross proceeds may be paid by the Company in connection with this private placement.
The offering is scheduled to close on or about April 1, 2019 and is subject to normal approvals by the TSX Venture Exchange. No new control persons will be created as a result of this private placement.
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.
The Company confirms that there is no material fact or material changes related to the Company which has not been generally disclosed.
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.