Dominion Lending Centres Inc. Announces Closing of $59.15 million Secondary Private Placement Offering of Class A Common Shares

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VANCOUVER, British Columbia, Feb. 28, 2025 (GLOBE NEWSWIRE) -- Dominion Lending Centres Inc. (TSX:DLCG) (“DLCG” or the “Corporation”), 2215 Coquitlam Avenue, Port Coquitlam, British Columbia V3B 1J6, along with Mauris Family Investments Inc. (an entity controlled by Gary Mauris), and 603908 B.C. Ltd. (an entity controlled by Chris Kayat and family), announced today that they have closed the previously announced sale of 7,782,400 class “A” common shares (the “Offered Shares”) by the Selling Shareholders (as defined below) at a price of $7.60 per Offered Share for gross proceeds to the Selling Shareholders of approximately $59.15 million (the “Offering”), less the commission paid to the Agents (as defined below) of $2,365,849.60 (or $0.304 per Offered Share), on a “best efforts” agency private placement basis. DLCG did not receive any proceeds from the Offering. Mauris Family Investments Ltd. (“MaurisCo”) and 603908 B.C. Ltd. (“KayatCo”) are collectively referred to herein as the “Selling Shareholders”.

The Offering was completed pursuant to an agency agreement (the “Agency Agreement”) dated February 28, 2025 between the Corporation, MaurisCo, KayatCo, Desjardins Capital Markets (“Desjardins”), Cormark Securities Inc. (“Cormark”) and Acumen Capital Finance Partners Limited (“Acumen”, and together with Desjardins and Cormark, the “Agents”) and the Share Purchase Agreements (as defined below). Share purchase agreements were entered into between each purchaser or beneficial purchaser, as the case may be, of the Offered Shares pursuant to the Offering (each a “Purchaser”), the Agents, the Corporation, MaurisCo and KayatCo in respect of such Purchaser’s purchase of a portion of the Offered Shares (the “Share Purchase Agreements”).

Prior to the Offering, MaurisCo beneficially owned or controlled, directly or indirectly, an aggregate of 23,979,733 class “A” common shares, representing approximately 30.5% of the total issued and outstanding class “A” common shares. Prior to the Offering, KayatCo beneficially owned or controlled, directly or indirectly, an aggregate of 23,253,532 class “A” common shares, representing approximately 29.5% of the total issued and outstanding class “A” common shares. Following the closing of the Offering, MaurisCo beneficially owns or controls, directly or indirectly, 20,088,533 class “A” common shares and KayatCo beneficially owns or controls, directly or indirectly, 19,362,332 class “A” common shares, representing 25.5% and 24.6%, respectively, of the issued and outstanding class “A” common shares, a decrease of approximately 5% and 4.9%, respectively.

MaurisCo and KayatCo have no other current plans to dispose of their remaining investment in the Corporation but may from time to time decide to acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold securities of the Corporation or develop plans or intentions that would relate to or result in the items in (a) to (k) of Item 5 of Form 62-103F1 to occur, in each case, depending on market and economic conditions, the business and prospects of the Corporation and other relevant factors. The Selling Shareholders, along with the Corporation’s board of directors and certain members senior management, have entered into lock-up agreements for a period of 180 days from the date of closing of the Offering, restricting them from disposing any securities of Corporation, subject to certain exemptions.

An early warning report relating to sale of Offered Shares by each of MaurisCo and KayatCo pursuant to the Offering will be filed on SEDAR+ under the Company’s profile at To obtain a copy of such report, please contact the corporate secretary of the Corporation at . The Corporation’s head office and Messrs. Mauris and Kayat’s mailing address is 2215 Coquitlam Avenue, Port Coquitlam, BC, V3B 1J6.

About Dominion Lending Centres Inc.

Dominion Lending Centres Inc. is Canada’s leading network of mortgage professionals. DLCG operates through Dominion Lending Centres Inc. and its three main subsidiaries, MCC Mortgage Centre Canada Inc., MA Mortgage Architects Inc. and Newton Connectivity Systems Inc., and has operations across Canada. DLCG extensive network includes over 8,500 agents and over 500 locations. Headquartered in British Columbia, DLC was founded in 2006 by Gary Mauris and Chris Kayat.

DLCG can be found on X (Twitter), Facebook and Instagram and LinkedIn @DLCGmortgage and on the web at . 

Contact information for the Corporation is as follows:

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