Tim­ber­creek Fi­nan­cial ar­ranges $20M pri­vate place­ment

Stockwatch Daily - - FINANCE - Mr. Cameron Good­nough re­ports

TIM­BER­CREEK FI­NAN­CIAL Corp. in­tends to com­plete a pri­vate place­ment of­fer­ing through the is­suance of com­mon shares at a price of $9.22 per share to raise gross pro­ceeds of up to $20-mil­lion.

The cor­po­ra­tion may pay cer­tain fin­ders who are reg­is­tered deal­ers a cash com­mis­sion of up to 2 per cent of the gross pro­ceeds of the of­fer­ing. The clos­ing of the of­fer­ing is sub­ject to cer­tain con­di­tions, in­clud­ing, but not lim­ited to, the re­ceipt of ap­proval of the Toronto Stock Ex­change. The cor­po­ra­tion cur­rently in­tends to use the net pro­ceeds, if any, of the of­fer­ing to re­pay amounts ow­ing un­der its se­cured re­volv­ing credit fa­cil­ity, and will sub­se­quently draw on the credit fa­cil­ity for pur­poses of fi­nanc­ing the pur­chase of new in­vest­ments in ac­cor­dance with the strategies, in­vest­ment ob­jec­tives and in­vest­ment guide­lines of the cor­po­ra­tion.

“The cor­po­ra­tion con­tin­ues to ex­pe­ri­ence strong de­mand for its cus­tom­ized fi­nanc­ing so­lu­tions, and this trans­ac­tion en­ables us to build our eq­uity cap­i­tal base op­por­tunis­ti­cally and ac­cre­tively to sup­port the con­tin­ued port­fo­lio growth,” said Cameron Good­nough, pres­i­dent and chief ex­ec­u­tive of­fi­cer of Tim­ber­creek Fi­nan­cial. About Tim­ber­creek Fi­nan­cial Corp. Tim­ber­creek Fi­nan­cial is a lead­ing non-bank, com­mer­cial real es­tate lender pro­vid­ing shorter-du­ra­tion, struc­tured fi­nanc­ing so­lu­tions to com­mer­cial real es­tate in­vestors. Its so­phis­ti­cated, ser­vice-ori­ented ap­proach al­lows the com­pany to meet the needs of bor­row­ers, in­clud­ing faster ex­e­cu­tion and more flex­i­ble terms that are not typ­i­cally pro­vided by Cana­dian fi­nan­cial in­sti­tu­tions. By em­ploy­ing thor­ough un­der­writ­ing, ac­tive man­age­ment and strong gov­er­nance, the com­pany is able to meet these needs while tar­get­ing strong risk-ad­justed re­turns for in­vestors.

We seek Safe Har­bor.

Zelick Laeb Alt­man, Ugo Biz­zarri, An­drew Alexan­der Jones, Steven Robert Scott, Glenn Wil­liam Shyba, Robert Blair Tam­blyn, Derek John Watchorn

(TF) Shares: 79,695,870

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