MCAN Mortgage (TSE:MKP) has released an update.
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MCAN Financial Group has initiated an overnight marketed offering to raise $20 million through the sale of common shares, with an additional over-allotment option of $3 million. The proceeds are intended to support the company’s residential mortgage and construction lending businesses. This offering is subject to customary market conditions and the approval of the Toronto Stock Exchange, with completion anticipated around March 28, 2024.
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