Eclipse Residential Mortgage Investment Corporation Renews Normal Course Issuer Bid
TORONTO, ONTARIO–(Marketwired – Jan. 25, 2018) - Eclipse Residential Mortgage Investment Corporation (TSX:ERM) (the “Company”) renewed its normal course issuer bid to purchase up to 308,400 common shares (the “Shares”) of the Company representing approximately 10% of the public float of 3,084,614 Shares. As at January 19, 2018, there were 3,158,538 Shares outstanding.
The Company purchased no Shares of the 145,900 Shares approved under the Company’s previous issuer bid.
The Shares may be purchased for cancellation from January 31, 2018 to January 30, 2019 through the facilities of the TSX or other alternative Canadian trading system. Shares may be purchased at the then current market price at the time of acquisition in the open market. The Company believes that such purchases are in its best interest and are a desirable use of its available funds. The Company’s average daily trading volume for the period July 1, 2017 to December 31, 2017 was 2,610 Shares. The Company may purchase up to 1,000 Shares per day under its normal course issuer bid.
About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton’s investment solutions include TSX traded funds, mutual funds, and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email [email protected] or visit our website at www.bromptongroup.com.
About MCAP Financial Corporation
One of Canada’s largest mortgage financing companies, MCAP Financial Corporation originates and services all mortgages for Eclipse. MCAP has more than 20 years of experience underwriting and servicing Canadian Single Family Residential Mortgages, with over $65 billion in mortgage assets managed for banks, lifecos, credit unions and institutional investors.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Company, to the future outlook of the Company and anticipated events or results and may include statements regarding the future financial performance of the Company. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
416-642-6000 (toll-free at 1-866-642-6001)