CALGARY, Alberta, June 29, 2018 (GLOBE NEWSWIRE) -- Builders Capital Mortgage Corp. (TSX-V:BCF) (“Builders Capital”) is pleased to announce that it has completed a non-brokered private placement of 68,500 Class A Non-Voting Shares (the "Class A Shares"). This placement consists of 18,500 Class A Shares issued at a price of $10.00 per share for gross aggregate proceeds of $185,000. The remaining 50,000 Class A Shares are being issued as a result of an exchange by a shareholder for his 50,000 Class B Non-Voting shares which will be cancelled by Builders Capital.
The Class A Non-Voting Shares issued under this private placement are subject to a four month hold period which will expire on November 5, 2018.
The proceeds from the private placement will be used to fund additional loans to approved members of the home construction industry and to add to working capital.
For further information, please contact:
John Strangway, Chief Financial Officer
Telephone: (403) 685-9888
Builders Capital Mortgage Corp.
Suite 405, 1210 – 8th Street SW
Calgary, Alberta T2R 1L3
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.