Dominion Lending Centres Establishes Automatic Share Purchase Plan
Vancouver, British Columbia – June 14, 2022 – Dominion Lending Centres Inc. (TSX:DLCG) (“DLC” or the “Corporation”) today announced that, in connection with its previously announced normal course issuer bid (“NCIB”) to purchase up to 1,200,000 of its class “A” common shares (“Common Shares”), it recently entered into an automatic share purchase plan (“ASPP”) with the designated broker responsible for the NCIB. The ASPP is intended to allow for the purchase of Common Shares under the NCIB at times when DLC would ordinarily not be permitted to purchase its securities due to regulatory restrictions and customary self-imposed blackout periods.
Pursuant to the ASPP, before entering into a blackout period, the Corporation may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with certain purchasing parameters. Such purchases will be made by the designated broker based on such purchasing parameters, without further instructions by DLC, in compliance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be implemented as of today.
Outside of pre-determined blackout periods, Common Shares may be purchased under the NCIB based on management’s discretion, in compliance with TSX rules and applicable securities laws. The NCIB commenced on May 27, 2022 and will end no later than May 26, 2023. All purchases made under the ASPP will be included in computing the number of Common Shares purchased under the NCIB. As of the date hereof, the Corporation has purchased 29,725 Common Shares under the NCIB.
About Dominion Lending Centres Inc.
The DLC Group is Canada’s leading network of mortgage professionals. The DLC Group operates through Dominion Lending Centres and its three main subsidiaries, MCC Mortgage Centre Canada Inc., MA Mortgage Architects Inc. and Newton Connectivity Systems Inc., and has operations across Canada. The DLC Group’s extensive network includes ~7,750 agents and 530 locations. Headquartered in British Columbia, the DLC Group was founded in 2006 by Gary Mauris and Chris Kayat.
Contact information for the Corporation is as follows:
Co-Chief Financial Officer
Sr. Vice-President, Capital Markets