TORONTO, ONTARIO–(Marketwired – June 27, 2016) – Terra Firma Capital Corporation (TSX VENTURE:TII) (“Terra Firma” or the “Corporation”) announced today that subject to regulatory approval and pursuant to the terms of its share option plan, it has granted options to Mr. Glenn Watchorn, its newly appointed President and Chief Executive Officer to purchase an aggregate of 500,000 common shares of the Corporation at a price of $0.57 per share. The Options vest in four equal installments, with the first 25% vesting immediately upon grant, and 25% vesting every 90 days thereafter and shall expire in seven years from the date of grant.
“Glenn has demonstrated superior leadership since joining the Terra Firma team. Glenn has been the driving force behind our expansion into the U.S., a strategic initiative that has been profitable and very appealing to our syndicated investors,” said Y. Dov Meyer, Executive Vice Chairman. “We expect to continue to grow our loan portfolio in the U.S. and attract new investors as well,” he added.
About Terra Firma
Terra Firma is a full service, real estate finance company that provides real estate financings secured by investment properties and real estate developments throughout Canada and the United States. The Company focuses on arranging and providing financing with flexible terms to real estate developers and owners who require shorter-term loans to bridge a transitional period of one to five years where they require capital at various stages of development or redevelopment of a property. These loans are typically repaid with lower cost, longer-term debt obtained from other Canadian financial institutions once the applicable transitional period is over or the redevelopment is complete, or from proceeds generated from the sale of the real estate assets. Terra Firma offers a full spectrum of real estate financing under the guidance of strict corporate governance, clarity and transparency. For further information please visit Terra Firma’s website at www.tfcc.ca.
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President and Chief Executive Officer
Spinnaker Capital Markets Inc.