MCAN Mortgage Corp.

Canaccord Genuity Acts as Co-Bookrunner to MCAN Mortgage Corp. on its $29 Million Overnight Marketed Deal Shelf Prospectus Offering of Common Shares

Canaccord Genuity is pleased to announce that on March 28, 2024, its client, MCAN Mortgage Corp. (“MCAN” or the “Company”)(TSX:MKP; OTCPK:MAMT.F) successfully announced the closing of its “overnight marketed” offering by way of prospectus supplement consisting of 1,868,750 common shares of the Company at a price of $15.40 per common share for gross proceeds of $28,778,750 (the “Offering”), which included the full exercise of the over-allotment option.

The Company intends to use the net proceeds from the Offering for its residential mortgage lending and residential construction lending business.

Canaccord Genuity acted as co-lead underwriter and co-bookrunner to MCAN.

MCAN is one of the largest Mortgage Investment Corporation (“MIC”) in Canada with a primary objective to generate a reliable stream of income though investments in a diversified portfolio of Canadian mortgages. This was MCAN’s first traditional equity offering since 2011 and represents a marquee transaction as the company expands its shareholder base.