/NOT FOR DISTRIBUTION OR DISSEMINATION INTO
The Offering is expected to be priced in the context of the market at the time of entering into a definitive underwriting agreement between the Company and the Underwriters. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The Company will grant the Underwriters an over-allotment option exercisable, in whole or in part, to purchase up to an additional
The Corporation expects to use the net proceeds from the Offering for its residential mortgage lending and residential construction lending business. The Offering is expected to close on or around
The Offering will be made in each of the provinces and territories of
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. Further, this news release does not constitute an offer to sell, or the solicitation of an offer to buy, in
About MCAN
MCAN's primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential mortgages, residential construction, non-residential construction and commercial loans, as well as other types of securities, loans, and real estate investments. MCAN employs leverage by issuing term deposits that are eligible for
A Caution About Forward–Looking Information and Statements
This news release contains "forward‐looking information" within the meaning of applicable securities laws. Forward‐looking information can be identified by words such as: "expect", "intend," "plan," "seek," "believe," "estimate," "future," "likely," "may," "should," "will" and similar forward‐looking language. Forward-looking information contained in this news release includes statements relating to the expected size of the Offering, the entry into the underwriting agreement, the grant of the Over-Allotment Option, the closing of the Offering, the successful marketing of the Offering and MCAN's expected use of the net proceeds of the Offering. The forward‐looking information contained in this news release is based on a number of assumptions which we believe to be reasonable including, but not limited to, MCAN's ability to successfully market, price and close the Offering. Forward‐looking information entails various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward‐looking information. In particular, the successful marketing and pricing of the Offering is dependent on market conditions and MCAN may not be successful in completing the Offering. Further, see risks as discussed under "Risk Factors" in the Prospectus and risks as discussed in under "Risk Factors" in the Company's most recent annual information form available under the Company's profile on SEDAR+ at www.sedarplus.ca. In addition, general risks relating to capital markets, economic conditions, regulatory changes, as well as the operations of our business may also cause actual results to differ materially from those expressed or implied in such forward‐looking information. Forward‐looking information is not a guarantee of future performance, and management's assumptions upon which such forward‐looking information is based may prove to be incorrect. Investors are cautioned not to place undue reliance on any forward‐looking information contained herein. The Company disclaims any obligation to update or revise any forward‐looking information contained in this news release, whether as a result of new information, future events or otherwise, except to the extent required by law.
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