EquityLine Mortgage Investment Corporation (ELMIC:JSE) is pleased to release its 2021 Audited Annual Report which may be accessed via the following link:
Highlights of the report include:
• EquityLine Group, the assets under administration (AUA) of registered mortgages under contract with EquityLine Mortgage Investment Corporation, EquityLine Service Corp. assets under administration (AUA) increased 176% year-over-year from $12.1 million to $33.3 million.
• Assets under management (AUM) of registered mortgages grew to $14.49 million as of December 31, 2021, compared with $11.15 million on December 31, 2020 — year-over-year growth of 30%.
• EquityLine MIC established an initial $25 million credit facility through a Special Purpose Vehicle (SPV) with a Schedule One Canadian chartered bank in July 2021 and the facility was initiated in September.
• EquityLine MIC launched a new class of series “F” preferred shares, which are used by portfolio managers and brokers for fee-based accounts.
• EquityLine MIC distributed $1,236,960 in dividends and interest to investors.
• EquityLine Capital (Delaware) LP, an affiliate, has prepared the foundation for a US$ 50 million private funding round to US investors via Regulation A offering scheduled to be launched in the second quarter of 2022.“On behalf of the management team at EquityLine MIC I want to thank shareholders for their continued support of our Company mission. I am proud of the way that we have shepherded shareholders investments through a tumultuous period in the shadow of a global pandemic, and I am optimistic about how we can continue to thrive.” commented Sergiy Shchavyelyev, CEO and President of EquityLine MIC.