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Press Release & News
FOR IMMEDIATE RELEASE
Abode Mortgage Corporation Raises C$1.7 Million from Warrant Exercise
Vancouver, BC - July 25, 2007 –
Abode Mortgage Corporation (TSXV: ABD) is pleased to report that it has received a total of $1,700,000 from the exercise of 10,000,000 share purchase warrants issued in consideration of a $15,000,000 revolving credit facility established with an international financial institution as detailed in the company’s May 24, 2007 press release. All share purchase warrants were exercised. These shares are subject to a holding period until October 5, 2007.
“With the successful completion of the warrant exercise, the Company is well positioned to advance product development and market expansion initiatives in 2007,” said Mike Linehan, Chief Executive Officer of Abode Mortgage Corporation.
About Abode Mortgage Holdings Corp.
Abode Mortgage Holdings Corp. is a public company trading on the TSX Venture Exchange under the symbol ABD, and through its wholly owned subsidiary, Abode Mortgage Corporation, provides mortgage services to the increasing number of Canadians who are unable to find mortgage financing through traditional sources.
Headquartered in Vancouver, Abode Mortgage Corporation is delivering a new standard of service excellence to the Canadian non-conforming residential mortgage industry by providing simplified products, consistent underwriting decisions, uniformed pricing and competitive compensation programs. The Company launched its lending operations in February, 2007.
Information about Abode Mortgage Corporation is available on the Internet at: www.abodecorp.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information, contact:
Peter J. MacLean
SVP Corporate Development
Abode Mortgage Holdings Corp.
Phone: 604.676.2100
Email: ir@abodecorp.com
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