For the period ending January 31, 2013, the Manager is currently targeting an aggregate annualized yield of approximately 6%, net of all fees and expenses of the Company. Thereafter, in the long-term, the Manager is targeting an aggregate annual yield (net of all fees and expenses of the Company) equal to the then current yield to maturity on the two-year Government of Canada bond yield plus 350 basis points.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities of the Company in the United States, nor shall there be any sale of the securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.
This press release contains forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results, performance and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The Preliminary Prospectus contains important information relating to these securities. The Preliminary Prospectus is still subject to completion or amendment. Copies of the Preliminary Prospectus may be obtained from any of the Agents named above. There will be no sale or acceptance of an offer to buy securities until a receipt for the final prospectus has been issued.SOURCE Timbercreek Senior Mortgage Investment Corporation
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