MCAN Financial Group’s New Market Offering

MCAN Mortgage (TSE:MKP) has released an update.

MCAN Financial Group has announced an overnight marketed offering of 1.625 million common shares at C$15.40 each, aiming to raise C$25 million. The proceeds are earmarked for expansion of the company’s residential mortgage and construction lending business, with a potential closing date around March 28, 2024. The offering, excluding Quebec, will also be available in the U.S. as a private placement, subject to regulatory approvals.

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