CALGARY, Nov. 18, 2016 /CNW/ - Mosaic Capital Corporation
("Mosaic") (TSX-V Symbols: M, M.PR.A and
M.DB) is pleased to announce that the cash distribution for
the month of November 2016 in respect
of its preferred securities will be paid on December 15, 2016 to all holders of preferred
securities of record as of November 30,
2016. The November distribution will be $0.0833 per preferred security.
For Canadian income tax purposes the monthly distribution in
respect of the preferred securities is considered interest income
in the hands of the recipient.
Mosaic may from time to time acquire its preferred securities in
the market at then current trading prices and enter into a
pre-defined plan with its designated broker to allow for the
purchase of preferred securities at times when Mosaic ordinarily
would not be active in the market due to its own internal trading
blackout periods, insider trading rules or otherwise. Such
purchases may occur where Mosaic believes that the market price of
the preferred securities is not fully reflective of their value
such that the purchase of those securities could be an attractive
and appropriate use of corporate funds and beneficial to Mosaic's
existing security holders. Since the last press release regarding
preferred security distributions, Mosaic has not purchased any
preferred securities.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of
established businesses which span a diverse range of industries and
geographies. Mosaic's strategy is to create long-term value for its
shareholders through accretive acquisitions, long-term portfolio
ownership, sustained cash flows and organic portfolio growth.
Mosaic achieves its objectives by maintaining financial discipline,
acquiring businesses at attractive valuations, performing extensive
acquisition due diligence, utilizing optimal transaction
structuring and working closely with subsidiary businesses after
acquisition.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE MOSAIC CAPITAL CORPORATION