Firm Capital Mortgage Investment Corporation Announces Appointment of New Director

TORONTO, Nov. 13, 2017 (GLOBE NEWSWIRE) — Firm Capital Mortgage Investment Corporation (the “Corporation“) (TSX:FC) is pleased to announce the appointment of Victoria Granovski to the Board of Directors of the Corporation, effective immediately.

Victoria Granovski joined Firm Capital Mortgage Investment Corporation in 2013 and currently holds the position of Senior Vice President, Credit and Equity Capital, as well as Vice President of Mortgage Operations at Firm Capital Corporation. Prior to joining Firm Capital, Victoria worked for four years at Direct Insurance – Financial Investments Ltd (listed on the Tel Aviv Stock exchange and operating in the insurance, consumer credit and real estate markets) and its affiliates. Victoria holds a Master of Finance degree from the Smith School of Business at Queen’s University and a Bachelor of Arts degree with a major in Economics from the Open University of Israel. Prior to starting her finance career, Victoria served two years within Israeli Intelligence Corps of the Israeli Defense Forces.

Eli Dadouch, President & CEO of the Corporation, stated: “Victoria has been an incredible asset to the company since joining the Corporation in 2013. I have tremendous trust and confidence in Victoria, as she has shown her loyalty and deep commitment for the Corporation and its shareholders. With her strong knowledge of our business, and her finance background, Victoria will be a welcomed addition to the Board.”

As a result of the appointment, the size of the Corporation’s board of directors has been increased from 11 to 12 directors. 

About the Corporation
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The Corporation, through its mortgage banker, Firm Capital Corporation, is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The Corporation has been listed on the Toronto Stock Exchange since 1999 under the ticker symbol ‘FC’. The Corporation’s investment objective is the preservation of Shareholders’ equity, while providing Shareholders with a stable stream of monthly dividends from investments. The Corporation achieves its investment objectives through investments in selected niche markets that are under-serviced by large lending institutions. Lending activities to date continue to develop a diversified mortgage portfolio, producing a stable return to Shareholders. Full reports of the financial results of the Corporation for the year are outlined in the audited financial statements and the related management discussion and analysis of Firm Capital, available on the SEDAR website at www.sedar.com.  In addition, supplemental information is available on Firm Capital’s website at www.firmcapital.com.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, statements concerning our objectives, our strategies to achieve those objectives, our performance, our mortgage portfolio and our dividends, as well as statements with respect to management’s beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts.  Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue” or similar expressions suggesting future outcomes or events.  Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management.

These statements are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described in our Annual Information Form under “Risk Factors” (a copy of which can be obtained at www.sedar.com), which could cause our actual results and performance to differ materially from the forward-looking statements contained in this release.  Those risks and uncertainties include, among others, risks associated with mortgage lending, dependence on the Corporation’s mic manager and mortgage banker, competition for mortgage lending, real estate values, interest rate fluctuations, environmental matters, Shareholder liability and the introduction of new tax rules.  Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information include, among others, that the Corporation is able to invest in mortgages at rates consistent with rates historically achieved; adequate mortgage investment opportunities are presented to the Corporation; and adequate bank indebtedness and bank loans are available to the Corporation.  Although the forward-looking information continued in this news release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results and performance will be consistent with these forward-looking statements. 

All forward-looking statements in this news release are qualified by these cautionary statements.  Except as required by applicable law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For further information, please contact:
Firm Capital Mortgage Investment Corporation
Eli Dadouch
President & Chief Executive Officer
(416) 635-0221


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