Terra Firma Capital Corporation Provides Update on Arrangement and Reminder to Vote
October 11 2023 - 6:36PM
Terra Firma Capital Corporation (TSX-V: TII) ("
Terra
Firma" or the "
Company"), a real estate
finance company, would like to remind shareholders that the proxy
voting deadline to vote their shares for the proposed plan of
arrangement (the “
Arrangement”) with GM Capital
Corp. (the “
Buyer”), a company controlled by Y.
Dov Meyer, the executive chairman of the Company, Seth Greenspan,
managing director of the Company and their respective associates,
is 11:00 a.m. (Toronto time) on Tuesday, October 17, 2023. The
Company also announces that it is suspending its previously
announced long-term strategy to pay quarterly dividends, and it
does not currently intend to pay any further dividends on its
common shares.
The special meeting of shareholders of the
Company is scheduled for 11:00 a.m. (Toronto time) on Thursday,
October 19, 2023 at Blake, Cassels & Graydon LLP at 199 Bay
Street, Suite 4000, Toronto, Ontario. Additional information
concerning the Arrangement can be found in the Company’s
information circular dated September 20, 2023. An electronic copy
of the information circular is available under the Company’s
profile on SEDAR+ at www.sedarplus.com.
Shareholders who have questions or need
assistance in completing the form of proxy or voting information
form may contact the Company’s transfer agent, Computershare
Investor Services Inc., at 1-800-564-6253 (within North America) or
1-514-982-7555 (outside North America) or by email at
service@computershare.com.
About the Company
Terra Firma is a publicly traded real estate
finance company that provides real estate financings secured by
investment properties and real estate developments in the United
States and Canada. The Company focuses on arranging and providing
financing with flexible terms to real estate developers and owners
who require shorter-term loans to bridge a transitional period of
one to five years where they require capital at various stages of
development or redevelopment of a property. These loans are
typically repaid with lower cost, longer-term debt obtained from
other Canadian financial institutions once the applicable
transitional period is over or the redevelopment is complete, or
from proceeds generated from the sale of the real estate
assets.
More information about the Company is available
at www.tfcc.ca or under the Company's profile on SEDAR+ at
www.sedarplus.com.
For more information:
Terra Firma Capital CorporationShelley
OchoaChief Financial OfficerPhone: 416.792.4707sochoa@tfcc.ca
The TSXV has neither approved nor disapproved
the contents of this press release. The TSXV does not accept
responsibility for the adequacy or accuracy of this press
release.
CAUTIONARY AND FORWARD-LOOKING
STATEMENTS
Certain statements in this news release
constitute forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements generally
can be identified by the use of terms and phrases such as “will”,
“may”, “subject to”, “expected”, “if”, “option”, and similar terms
and phrases, including references to assumptions and
limitations.
Forward-looking statements are based on
information available at the time they are made, underlying
estimates and assumptions made by management and management's good
faith belief with respect to future events, performance and
results.
Forward-looking statements involve known and
unknown risks, uncertainties and other factors, some of which are
beyond the Company’s control, which may cause actual events,
results or performance to be materially different from the events,
results, or performance expressed in such forward-looking
statements. Such risks and uncertainties include, but are not
limited to, the inherent risks and uncertainties surrounding future
expectations of the Company, general economic, market and business
conditions in Canada and globally, governmental and regulatory
requirements and actions by governmental authorities, changes and
competition in the real estate industry, financing and refinancing
risks, changes in economic conditions, changes in interest rates,
changes in taxation rules, reliance on key personnel and potential
diversion of management time on the Transaction, environmental
matters, risks related to the nature of the Company’s investments
and its investment portfolio, tenant risks and dependence on
tenants’ financial conditions, fluctuations in commodity prices and
other risk factors more particularly described in the Company’s
most recently filed annual Management’s Discussion and Analysis,
any subsequently filed interim Management’s Discussion and Analysis
or the Company’s most recently filed Annual Information Form
available on SEDAR+ at www.sedarplus.com. Additional risks and
uncertainties not presently known to the Company or that the
Company currently believes to be less significant may also
adversely affect the Company.
Although the Company has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Forward-looking statements contained herein
are made as of the date of this news release and the Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, results or otherwise, except as may be required
under applicable securities laws. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
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