Richmond Hill, Ontario, Canada, February 28, 2022 – EquityLine Mortgage Investment Corporation (ELMIC:JSE) is pleased to release its 2021 Audited Annual Report. Highlights of the report include:
- EquityLine Group, the assets under administration (AUA) of registered mortgages under contract with EquityLine Mortgage Investment Corporation, EquityLine Service Corp. assets under administration (AUA) increased 176% year-over-year from $12.1 million to $33.3 million.
- Assets under management (AUM) of registered mortgages grew to $14.49 million as of December 31, 2021, compared with $11.15 million on December 31, 2020 — year-over-year growth of 30%.
- EquityLine MIC established an initial $25 million credit facility through a Special Purpose Vehicle (SPV) with a Schedule One Canadian chartered bank in July 2021 and the facility was initiated in September.
- EquityLine MIC launched a new class of series “F” preferred shares, which are used by portfolio managers and brokers for fee-based accounts.
- EquityLine MIC distributed $1,236,960 in dividends and interest to investors.
- EquityLine Capital (Delaware) LP, an affiliate, has prepared the foundation for a US$ 50 million private funding round to US investors via Regulation A offering scheduled to be launched in the second quarter of 2022.
“On behalf of the management team at EquityLine MIC I want to thank shareholders for their continued support of our Company mission. I am proud of the way that we have shepherded shareholders investments through a tumultuous period in the shadow of a global pandemic, and I am optimistic about how we can continue to thrive.” commented Sergiy Shchavyelyev, CEO and President of EquityLine MIC.
EquityLine Mortgage Investment Corporation is a Canadian mortgage investment corporation (MIC) incorporated under the laws of the Province of Ontario and located in Richmond Hill, Ontario. EquityLine MIC was founded in 2018 and is listed on the Jamaica Stock Exchange (www.jamstockex.com) under the symbol ELMIC.
For more information please contact:
EquityLine Mortgage Corporation
Sergiy Shchavyelyev, CEO
Download the Report: EquityLine MIC 2021 Audited Annual Report