October 25, 2017— (Toronto, ON) Gravitas Securities Inc. (“GSI” or the “Lead Agent”) is pleased to announce that it has entered into an agreement with Marathon Mortgage Corp. (the “Company” or “MMC”) as the Lead Agent, on behalf of a syndicate of agents (the “Agents”), to undertake a fully marketed private placement of Common Shares of the Company for gross proceeds of up to C$5,262,500 at a price (the “Issue Price”) of C$2.50 per share (the “Offering”). In addition, the Company has granted the Agents an option (the “Agents Option”) to sell up to an additional 315,750 Common Shares at the Issue Price, to raise additional gross proceeds of up to C$789,375, exercisable until 30 days following the closing.
The net proceeds from the offering will be used for corporate and general working capital purposes including the growth of marketing and sales.
The Company expects that the Offering will close December 15, 2017.
About Marathon Mortgage Corp.
Marathon Mortgage Corp. operates as a residential mortgage lender and offers residential mortgage origination, sales, and servicing. The Company underwrites prime-insured and conventional residential mortgages, which are sold to banks or trust companies, co-operatives, securities firms, and insurance companies. The Company was incorporated in 2012 and is located in Toronto, Ontario.
MMC is led by CEO Harold Kennedy who has 35+ years of experience in Mortgage Administration, Mortgage Banking, and Tech Development. The Company has recently been approved for TD Securities Residential Mortgage Backed Securities Program that will allow MMC to underwrite mortgages without needing to insure them.
About Gravitas Securities Inc.
Gravitas Securities is a leading wealth management and capital markets firm comprised of tactical individuals known for their sophisticated sector expertise, commitment to excellence, and a global platform committed to integration and innovation. Gravitas provides a wide range of investment services for retail and corporate clients globally with offices in Toronto, Vancouver, and Calgary, and is represented in the United States through its FINRA representative, Gravitas Capital International, in New York.
Gravitas Securities Inc. is a member of IIROC and CIPF.
Gravitas Securities Inc.