11:00 AM EDT, 03/19/2024 (MT Newswires) -- MCAN Mortgage Corporation ( MAMTF ) d/b/a MCAN Financial Group (MKP.TO) on Tuesday announced that, in connection with its previously announced overnight marked offering, it has entered into an underwriting agreement with a syndicate of underwriters to sell 1.625 million common shares at $15.40 each for aggregate gross proceeds of $25 million.

The underwriters have been granted an over-allotment option to purchase up to an additional 243,750 common shares at the same price for up to 30 days following the offering's close.

Net proceeds will be used for residential mortgage lending and residential construction lending business.

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