Montfort Capital Announces New C$200 Million Credit Facility for Brightpath
/NOT FOR DISSEMINATION IN
Credit Facility provided by Atalaya Capital will enable Brightpath's continued growth in the
"Brightpath has built an impressive origination and servicing platform in the Canadian mortgage market. Brightpath has a unique business model and generates attractive assets that provide utility to underserved Canadian consumers," said
"This partnership with Atalaya aligns Brightpath with a highly-regarded global asset manager," said
The Credit Facility will bear interest at a floating rate equal to the Canadian Overnight Repo Rate Average ("Adjusted Daily Compounded CORRA") plus a commercially reasonable credit spread. Interest will be paid bi-monthly commencing on
Each of Atalaya and its affiliates is an arm's length party to the Company and Brightpath, and the Company is not guaranteeing the loan or pledging any collateral under the Credit Facility other than a limited recourse guarantee and pledge providing a security interest in the shares held by the Company in
Brightpath specializes in arranging mortgages for people who are self-employed, new to the country, experiencing credit issues, or looking at renovation/flip projects. Our knowledge and experience, efficient service, and common sense approach to lending are just a few of the reasons to select
Montfort manages a diversified group of specialized private credit brands that utilize focused strategies and experienced management teams combined with advanced technology to improve fee-related performance. Montfort facilitates transparency for all of its investors through public company reporting. For further information, please visit www.montfortcapital.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include any statements (express or implied) respecting the future growth of the Company and the Company's future financial performance.
Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation, the assumption that the Company and its investee companies are able to meet their respective future objectives and priorities and assumptions concerning general economic growth and the absence of unforeseen changes in the legislative and regulatory framework for the Company.
Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Montfort's business. Material risks and uncertainties applicable to the forward-looking statements set out herein include but are not limited to: intense competition in all aspects of business; reliance on limited management resources; general economic risks; new laws and regulations and risk of litigation. Although Montfort has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Montfort. Accordingly, readers should not place undue reliance on forward-looking statements. Montfort undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.
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