Press Releases

MCAN Mortgage Corporation Reports Third Quarter Earnings

11/8/2012 – PDF (41 KB)

Toronto, Ontario, Canada: November 8, 2012 – MCAN Mortgage Corporation's ("MCAN", the "Company" or "we") net income for the third quarter of 2012 decreased to $3.5 million from $7.6 million in 2011, although estimated taxable income for the quarter was $4.8 million ($0.27 per share) compared to $4.5 million ($0.27 per share) in the prior year.

MCAN Mortgage Corporation Announces Successful Closing of Rights Offering

08/23/2012 – PDF (15.6 KB)

Toronto, Ontario, Canada: August 23, 2012 – MCAN Mortgage Corporation ("MCAN" or the "Company") announced today the successful completion of the fully subscribed rights offering (the "Offering") that expired on August 22, 2012.

MCAN Mortgage Corporation Reports Second Quarter Earnings

08/9/2012 – PDF (40.3 KB)

Toronto, Ontario, Canada: August 9, 2012 – MCAN Mortgage Corporation's ("MCAN", the "Company" or "we") net income for the second quarter of 2012 was $6.3 million, down from $7.2 million in 2011. The decrease in net income was primarily due to a lower fair market value adjustment for derivative financial instruments and lower income from securitization assets in the current quarter, partially offset by a 62% increase in net investment income from corporate assets.

MCAN Mortgage Corporation Announces Earnings Guidance

07/23/2012 – PDF (20.5 KB)

Toronto, Ontario, Canada: July 23, 2012 – In connection with the announcement on July 10, 2012 of a rights offering (the "Offering") and for the purposes of allowing shareholders to make an informed decision about the Offering, MCAN Mortgage Corporation ("MCAN" or the "Company") provides the following guidance in respect of its financial results for the second quarter ended June 30, 2012

MCAN Mortgage Corporation Announces Rights Offering

07/10/2012 – PDF (15 KB)

Toronto, Ontario, Canada: July 10, 2012 – MCAN Mortgage Corporation ("MCAN", the "Company" or "we") announced today that all applicable securities regulatory approvals have been obtained for a rights offering (the "Offering") to raise maximum proceeds of $20,135,020. Subject to the final approval of the Toronto Stock Exchange (the "TSX"), each holder of MCAN's common shares ("Common Shares") as of the close of business on July 24, 2012 (the "Record Date") will be issued one right (a "Right") for each Common Share held.

MCAN Mortgage Corporation Reports First Quarter Earnings

05/14/2012 – PDF (31.9 KB)

Toronto, Ontario, Canada: May 14, 2012 – MCAN Mortgage Corporation's ("MCAN", the "Company" or "we") net income for the first quarter of 2012 was $4.4 million, down from $7.1 million in 2011, although net investment income only decreased minimally.

MCAN Mortgage Corporation Provides Additional Equity Capital to MCAP

04/30/2012 – PDF (31.9 KB)

Toronto, Ontario, Canada: April 30, 2012 – MCAN Mortgage Corporation ("MCAN") today announced that it has provided $14 million of additional equity capital to MCAP Commercial LP ("MCLP") in order for MCAN to maintain its approximate 23% ownership interest in MCLP.

Income Tax Act Changes and Sales of Shares by MCAN Mortgage Corporation Insiders

03/19/2012 – PDF (19.2 KB)

Toronto, Ontario, Canada: March 19, 2012 – As a result of recent changes to the Income Tax Act (Canada), if a shareholder and persons who are not at arm's length to such shareholder own 10% or more of the outstanding shares of an corporation, all securities of the corporation held by such shareholder and non-arm's length persons, are deemed to be a "prohibited investment" for tax deferred accounts, such as registered retirement savings plan ("RRSP") and registered retirement income fund ("RRIF") accounts.

MCAN Mortgage Corporation Reports Strong Fourth Quarter Earnings

02/16/2012 – PDF (50.5 KB)

Toronto, Ontario, Canada: February 16, 2012 – MCAN Mortgage Corporation's ("MCAN", the "Company" or "we") net income for the fourth quarter of 2011 was $5.2 million, up from $2.0 million in the prior year.