Vancouver, British Columbia – January 13, 2021 – Dominion Lending Centres Inc. (TSXV: DLCG) announces that it has obtained approval from the TSX Venture Exchange (the “Exchange”) for a normal course issuer bid through the facilities of the Exchange. The normal course issued bid will be for a 12 month duration, commencing on January 18, 2021 and ending on January 17, 2022.
Pursuant to the notice of intention filed with the Exchange, the Corporation intends to purchase for cancellation, through the facilities of the Exchange and at the market price of the Corporation’s common shares (“Common Shares”) at the time of purchase, up to 2,332,697 Common Shares, representing 5% of the Corporation’s issued and outstanding Common Shares. The member who will conduct the normal course issuer bid on behalf of the Corporation is Desjardins Securities Inc. (“Desjardins”). The actual number of Common Shares that may be purchased and the timing of any such purchases will be determined by the Corporation and will be made in accordance with the requirements of the Exchange. Purchases of Common Shares under the normal course issuer bid will be completed using available working capital from time to time.
Management of the Corporation is of the view that, from time to time, it is in the best interests of all shareholders that Common Shares be acquired by the Corporation and returned to treasury, thus increasing the Corporation’s value per Common Share for remaining shareholders.
About Dominion Lending Centres Inc.
DLC group of companies is Canada’s leading and largest mortgage brokerage with over $40 billion in funded mortgages in 2019. DLC group of companies operates through four main subsidiaries, Dominion Lending Centres, Mortgage Centre Canada, Mortgage Architects and Newton Connectivity Systems and has operations in all 13 provinces and territories. DLC group of companies’ extensive network includes ~6,000 agents and 515 locations. Headquartered in British Columbia, DLC group of companies 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
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