EquityLine Mortgage Investment Corporation Shareholders

The information below and on this website is provided in summary form and should not be relied on as advice for investment purposes. This page provides basic facts about the share structure of EquityLine Mortgage Investment Corporation.

Capital Structure

EquityLine has authorized and issued the following shares:

Issued and Outstanding as of March 31, 2021 
Unlimited voting common shares.200
Unlimited Series A preferred shares, non-voting, redeemable by the Company after 24 months and retractable by the holder after 36 months at $2.00 USD per share with a right to a monthly dividend of $0.01333 USD ($0.16 USD annually).2,683,400
Unlimited Series B and H preferred shares, redeemable and retractable at $10 per share with a right to an annual cumulative dividend of 8.0% paid monthly.Nil
Unlimited Series F preferred shares, redeemable and retractable at $10 per share with a right to an annual cumulative dividend of 8.5% paid monthly.Nil

The Series A, Series B, Series H and Series F preferred shares do not carry voting rights (except as otherwise required by applicable laws and/or the Articles) and rank equally with respect to the payment of dividends and the distribution of assets of the Corporation in connection with a liquidation event.

The rights and restrictions attaching to each series of preferred shares can be found in our Offering Memorandum dated May 7, 2021.

The Corporation also has non-convertible debentures with a face value of $6,561,349 issued and outstanding as of March 31, 2021. The debentures have a carrying interest rate of 8% and are due at various dates in 2022.


Monthly Dividend Payments

Dividends for all preferred share series, once approved by the Board, have a record date as the last business day of every month, and the dividend payment date of 15th the following month. When a dividend payment date falls on a day during the weekend or on a holiday, the payment will be made on the following business day. If you own shares on the record date, you will receive the dividend. There is no guarantee that the Corporation will be able to declare any dividends in any period or at all. 

Taxation of Dividend Payments

You should consult your tax advisor for advice with respect to the income tax consequences of receiving dividends. Further information regarding the taxation of Canadian dividends is also available from the Canada Revenue Agency and the taxation authorities in the country in which you live.

Independent Review

In 2020 EquityLine MIC commissioned a third-party analysis of our business model (current and planned) to validate our business strategies and to remain transparent to our shareholders. Robert Baldauf ICD.D was given full access to our business over a two-month period.  We believe his conclusions speak to the strength of our corporate group:

“Despite the perceived risks and challenges inherent in the investments in real estate generally, and mortgages specifically, this independent analysis concludes that the business model and financial models developed by the executive team [of EquityLine Mortgage Investment Corporation] are reasonable and sound. The elements of the model and intended outcomes and the methodology and mechanics to achieve those outcomes are in place.”

“General Conclusions about the [EquityLine] Financial Model:

  • The financial outlook for the organization is effectively represented by the financial model.
  • The financial outlook represents an effective and combined approach of people, process, and technology to deliver the intended results of the financial model.
  • The outlook for growth is reasonable and likely achievable based on the projected capital inflows and mortgage deal flow.
  • No single element of the model can succeed without the inputs and contributions of other elements.
  • The financial model supports the key outcomes to shareholders, including an effective redemption policy and fixed* rate of return.”

Excerpt from

“EquityLine Mortgage Investment Corporation Review of the Financial Model”

An independent Business Analysis

Prepared by Robert Baldauf ICD.D
February 2020


The conclusions and the statements above are based on certain assumptions which management believes to be accurate as of July 2020. Factors that could cause our actual results to differ materially from those anticipated above include but are not limited to: general business, economic, competitive, political and social uncertainties;  general capital market conditions; delay or failure to receive regulatory approvals; the actual results of future operations; competition; changes in legislation, including environmental legislation, affecting the Corporation; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; changes in operating and capital costs; the availability of mortgages; interest and exchange rate changes;  fluctuations in dividends; unforeseen potential liabilities of the Corporation’s portfolio or other mortgages acquired by the Corporation; and other factors, many of which are beyond the control of the Corporation, which are discussed in more detail in the Risk Factors page on this website and in our Offering Memorandum.

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