SYS-CON MEDIA Authors: Liz McMillan, Yeshim Deniz, Doug Masi, Mat Mathews, PR.com Newswire

News Feed Item

Builders Capital Announces Intention to Complete Private Placement

CALGARY, ALBERTA -- (Marketwired) -- 06/12/14 -- Builders Capital Mortgage Corp. (TSX VENTURE:BCF) ("Builders Capital") announced today that, subject to regulatory approval, it intends to complete a private placement to raise a maximum of $3,000,000 by the issuance of up to 300,000 Class A Non-Voting Shares (the "Shares"). Each of the Shares will be offered at a price of $10.00 and will be issued pursuant to the terms and conditions set forth in as subscription agreement to be approved by the Board of Directors. Certain members of the Board of Directors may participate in this private placement, which does not require a minimum subscription to close. This is a non-brokered private placement.

Proceeds of the private placement will be used to fund additional loans to approved members of the home construction industry and to add to working capital.

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.

Contacts:
Builders Capital Mortgage Corp.
John Strangway
Chief Financial Officer
(403) 685-9888
Suite 405, 1210 - 8th Street SW
Calgary, Alberta T2R 1L3

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.