MCAN Mortgage Corporation Supplement ATM and Rights Offering
Goodmans LLP acted for MCAN Mortgage Corporation in connection with its supplement at-the-market equity program (“ATM Program”) and rights offering.
The ATM Program allows the Company to issue up to $30,000,000 (the "Maximum Amount") of common shares ("Common Shares") from treasury to the public from time to time.
A $33,000,000 rights offering was subsequently made eligible to holders of MCAN’s common shares of record on November 15, 2021. Pursuant to the rights offering, each holder of common shares received on right for each common share held. Every 14 rights entitled the holder to subscribe for one whole common share of the company at a price of $16.86 per common share.
MCAN is a public company listed on the Toronto Stock Exchange under the symbol MKP and is a reporting issuer in all provinces and territories in Canada. MCAN also qualifies as a mortgage investment corporation ("MIC") under the Income Tax Act (Canada) (the "Tax Act").
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