Investors may participate in the profitability of the fund through the purchase of its shares.
- Class A common shares – each investor receives 1 Class A share, which are the voting shares. Accordingly, each shareholder has a vote at the company’s Annual General Meeting, which is usually held in November of each year.
- Class B common shares – these are dividend eligible shares, on which interest is earned proportionate to the time that the shares are invested with the company relative to the company’s year end. The company’s year end is August 31st. Accordingly, if an investor purchased Class B shares on January 1, they would receive 8 month’s interest on those Class B shares.
- Minimum investment – 3000 Class B shares.
- Both Class A and Class B shares have a sale price of $ 1.00 per share. As an example, an investor may wish to purchase approximately $50,000 worth of shares. This would take the form of 50,000 Class B shares and 1 Class A share for a total cost of $50,001.
- Funds for the purchase of shares are to be made payable to Thomas Butler LLP In Trust. Payment must be by way of certified cheque or bank draft.
- Shares may be purchased by individuals, couples, corporations, partnerships, or by individuals through their self administered RRSP, RRIF, or Tax Free Savings Accounts.
- The Company relies on the Offering Memorandum Exemption. The Offering Memorandum is available through our Exempt Market Dealer (EMD), Fairmont Asset Management Inc.
- The Office of the Registrar of Mortgage Brokers at the Financial Institutions Commission regulates the mortgage brokering and lending activities of Mortgage Investment Corporations (MICs) under the Mortgage Brokers Act. The Registrar and the Mortgage Brokers Act do not regulate the capital raising and investment marketing activities of MICs which are subject to securities legislation and regulation.