Westboro Mortgage Investment Fund Announces Bonus Distribution to Unitholders

TORONTO, May 25, 2022 (GLOBE NEWSWIRE) -- Westboro Mortgage Investment Fund has paid a bonus distribution of $0.065 per eligible Class F unit. The bonus distribution equals the excess income earned by the fund for the fiscal year ended December 31, 2021. The total distribution per unit for the 2021 fiscal year, inclusive of this bonus distribution, was $0.65/unit on a monthly basis, or an annualized return of 6.7%, on a monthly compounded basis. The strong performance of the Westboro Mortgage Investment Fund is a direct result of the following: a) long standing and strong broker client relationships b) best in class staff; and c) conservative and thorough underwriting practices.

"It was a record breaking year filled with a unique set of challenges posed by the pandemic. We will continue to be conservative in our underwriting and portfolio management while being competitive on interest rates and terms offered to our longstanding broker client network. In 2021 and early in 2022 we were fortunate to attract top industry talent to join our already dynamic team. We want to fund the best mortgages, not the most mortgages. Our focus is, and always will be, the preservation of investor capital and providing consistent risk adjusted returns to our mortgage fund investors," said Nick Christopoulos, CEO of Westboro Mortgage Investment Fund.

About Westboro Mortgage Investment Fund

Westboro Mortgage Investment Fund was established in 2004 as a Mortgage Investment Corporation in the Ottawa region. Throughout the years, the fund has strategically expanded its lending region to include Central and Southwestern Ontario and the Gatineau regional area of Quebec. Today, the fund manages assets in excess of $300 million all while maintaining the primary objective of providing investors with a consistent and stable fixed income solution for their investment portfolio.

To learn more about the Westboro Mortgage Investment Fund, including investment opportunities and qualification criteria please visit www.westboromic.com or contact the Vice President of Fund Sales, Scott Roberts at [email protected].