GENESIS MORTGAGE INVESTMENT CORP DECLARES 2017 3RD DIVIDEND

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        VANCOUVER, –  June 30th 2017: Genesis Mortgage Investment Corporation (Genesis MIC) is pleased to announce today that its board of directors has declared a quarterly dividend of $0.02 per Class A preferred share of the Company. The 3RD Quarter Dividends will be deposited by no later than July 17th 2017. Online access to your account activity is available anytime via:  www.gentaicapital.com

As of June 30th 2017,  the amount of this Quarterly distribution is equivalent to $1,120,517.23, and the cumulative distribution has reached to $11,249,627.41

ABOUT THE COMPANY

        Genesis MIC is a non-bank provider of residential and commercial mortgages. The Company's objective is to acquire and maintain a diversified portfolio of first and second mortgages in Canada that preserves capital and generates attractive returns in order to pay quarterly dividends to its shareholders. The Company focus on short-term bridge financing needs not currently serviced by larger financial institution. Gentai Capital Corporation is the manager of and portfolio advisor to the Company.

        Genesis Mortgage Investment Corp is a Mortgage Investment Corporation (MIC) as defined in the Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income. For further information, please refer to Gentai’s website at www.gentaicapital.com

Key Financial Data Analysis

       In the third quarter of 2017, Gentai Capital Corporation has maintained a stable and healthy growth, continuously delivering to shareholders an annual interest rate of 8% and an annual compound interest rate of 8.24%. The total amount of this quarterly distribution is CAD1,120,517.23, making it the 19th distribution of regular dividend in addition to one distribution of special dividend since since its inception in 2012. Up to June 30, 2017, cumulative dividend distributed has reached CAD11,249,627.41.

19 Regular Distributions and 1 special distribution by Genesis MIC 

(Up to June 30, 2017) 

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Highlights of the 3rd Quarter

  1. Total mortgage interest of 1.54 million, a 11.59% increase compared to the previous quarter;
  2. Regular quarterly dividend continues at 2% with an annual rate of 8%, plus special dividend at year end, as determined by the Board of Directors.
  3. Average Loan-to-Value ratio is 57.93%.
  4. Mortgages receivable has reached $65.42 million, an increase of 5.24% compared with the previous quarter.

Continued focus on low-risk real estate sectors.

Quarterly Business Review

        Mortgage PortfolioCAD65,422,415.97. By Loan Type: Single houses, townhouses, condos, commercial properties, building and construction loans, among which commercial properties and single houses account for 38.44% and 35.12% respectively. By Property LocationA diversified geographical coverage to minimize risks.

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        By Loan Interest: Average loan interest of 9.96% for the 3rd quarter, an increase of 0.14% over the previous quarter; diversified interest rates, mostly ranging from 8% to 12%.  

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        Cashing in on years of lending experience and extensive lending channels, Genesis MIC lend in major urban centres where stability and liquidity of real estate are strong. We focus on loans that cannot be obtained from large financial institutions but comply with our lending guidelines to fill the lending gap caused by the limited number of financial institutions operating in Canada. When reviewing loan applications, we focus on borrower’s credit standing, personal background, and assets as well as location and value of the mortgaged property. Within the scope of our conservative and prudent lending policy, Genesis MIC, on one hand, provides owners and buildings of all types of residential and commercial properties in Canada with fast, flexible, and customized short-term mortgage solutions, including term, bridge, and construction financing, to help borrowers with property purchasing, refinancing, property renovation, project development or construction financing, and on the other hand, provides individual and institutional investors with low-risk, high-return mortgage investment opportunities by issuing short-term 100% high-quality property secured mortgage loans, focusing on high-asset borrowers, rigorous controlling of loan-to-value ratio, pursuing a national-wide lending initiative, and maintaining an investment portfolio diversified by size, geography, and property type.  

 

        Our strategy is to expand our business in an orderly fashion by gradually enlarging our geographical coverage and focusing on low-risk properties. Up to now, we lend not only in British Columbia but also in Alberta and Ontario, making solid steps towards our goal to lend throughout Canada. Genesis MIC’s mandate is to achieve capital preservation and deliver reliable, safe, continuous higher-than-average return to our investors through quarterly distribution of regular cash flow.

         On behalf of the elite group of Gentai Financial Group, we express our sincere thanks to your for your staunch support. Should you need more information, please contact our Investment Division (Anya) at 604-767-5880 or visit our website at www.gentaicapital.com .

For further information, please contact:

Anya Han

Relationship Manager

Gentai Capital Corporation

T: 604.279.0360 | 604.638.1580 | 604.218.9956 || C: 604.767.5880

E: anya.han@gentaicapital.com