(All figures in Canadian dollars)
TORONTO, Nov. 1, 2024
/CNW/ - Montfort Capital Corp. ("Montfort" or the "Company")
(TSXV: MONT), a trusted provider of focused private credit
strategies for institutional investors, family wealth offices, and
wealth managers, is pleased to announce it has closed the
transaction previously announced on October
17, 2024, pursuant to which an affiliate of Round 13 Capital
("Round 13"), an arm's length third party, acquired from the
Company all of its right, title and interest to the entities
comprising the TIMIA Capital business unit (the "TIMIA
Group"), together with Montfort's equity interests in the TIMIA Group
investment funds.
The sale of the TIMIA Group included all-cash consideration of
$4.5 million, subject to certain
purchase price adjustments, and the purchaser's acquisition from
Pivot Financial I Limited Partnership ("Pivot"), an
affiliate of Montfort, of
$2 million in principal indebtedness
of TIMIA Capital Holdings Limited Partnership, an entity comprising
the TIMIA Group.
About Montfort Capital Corp.
Montfort is a trusted provider
of focused private credit strategies for institutional investors,
family offices, and wealth managers. Our experienced
management teams employ focused strategies to drive superior
risk-adjusted investment returns. Montfort's business lines include:
- Brightpath Capital, one of Canada's leading providers of alternative
residential mortgages.
- Langhaus Financial, provides insurance policy-backed
lending solutions to high-net-worth individuals and entrepreneurs
in Canada.
- Nuvo Financial, is focused on providing net asset value
(NAV) loans to small and mid-sized investment funds in Canada.
- Pivot Financial which specializes in asset-backed
private credit targeting mid-market borrowers in Canada.
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 TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of applicable Canadian securities legislation and
information that are based on the beliefs of management and reflect
the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. Such statements and information reflect the current
view of the Company. Risks and uncertainties may cause actual
results to differ materially from those contemplated in those
forward-looking statements and information. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
ON BEHALF OF THE BOARD
Ken Thomson
Director and CEO
SOURCE Montfort Capital Corp.