From GlobeNewswire: 2024-06-10 07:00:00

Timbercreek Financial Corp. (TSX: TF) has received approval from the Toronto Stock Exchange to start a normal course issuer bid (NCIB) for its common shares. The NCIB will run from June 12, 2024, to June 11, 2025, with a maximum purchase limit of 8,216,051 Shares or 10% of the public float. Under the previous NCIB from 2023, the company bought back 765,500 Shares at an average price of $7.02 each. Purchases in the current NCIB will be made at market price through the TSX and other Canadian platforms, with all bought Shares to be canceled. National Bank Financial will oversee the bid. The company believes buying back shares will benefit existing shareholders by increasing their equity interest.

Timbercreek Financial is a non-bank, commercial real estate lender offering structured financing solutions to real estate investors. The company emphasizes faster execution and flexible terms not commonly found in Canadian financial institutions. The firm’s approach involves thorough underwriting, active management, and strong governance to target strong risk-adjusted returns for investors. Some statements in this news release contain forward-looking projections and may be subject to risks and uncertainties detailed in the company’s public filings. While forward-looking statements reflect current views, the company does not commit to updating them unless required by law.



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