Investor Relations

Calgary-based Sun Country Mortgage Investment Corporation (MIC) raises mortgage funds through an Offering Memorandum and then invests clients' funds in a diversified portfolio of secured mortgages to homeowners, builders, renovators and developers. Sun Country MIC then generates earnings for shareholders from the interest payments made on mortgages.

Sun Country MIC manages both risk and consistency of returns while providing long-term growth potential for investors.

Prior to funding, Sun Country MIC manages careful research on both the properties and the borrowers. Once investors' money is placed and secured on title, investors' money begins to grow.

The majority of revenues generated by Sun Country MIC are from interest payments and fees. The steady stream of income comes from interest generated by mortgages and is usually collected monthly.

A big benefit to investors is the fact that a MIC it is a flow-through investment vehicle. This means that all revenues generated can be redistributed to investors before income tax deductions. Instead, the revenues are taxed - at a lower rate - when they are distributed to investors.

How a MIC works

A Mortgage Investment Corporation (MIC) is a company given special designation by Revenue Canada. Highlighted in Section 130.1 of the Income Tax Act, a MIC is a corporation established to enable investors to invest in a pool of mortgages. Structured like a mutual fund (save for the fact funds are invested in mortgages rather than in stocks, bonds or other instruments as many mutual funds are), according to the Income Tax Act, a MIC:

Offers investments that are eligible for all registered pension plans in Canada, such as RRSP's and RRIF's.
Must invest at least 50% of its capital in residential mortgages and/or CDIC insured instruments.
Must have at least 20 shareholders, and more than 40 investors not deemed "Accredited Investors".
May invest up to 25% of its available capital directly in real estate property for income purposes but is restricted from developing land or engaging in construction.
Is widely held, a shareholder may not hold more than 25% of the MIC's total capital.
Is a tax exempt corporation.
Is a flow-through investment vehicle and distributes all of its net income to its investors.
Investments must be in Canada.
Disburses dividends to MIC shareholders that have invested outside an RRSP are taxed as interest in the shareholders hand.

Sun Country MIC: staying in-touch With Investors

Sun Country MIC endeavors to maintain consistent and clear lines of communication with all investors.

If you are a Sun Country MIC investor and have any questions, please contact us by email or by phone, mail or fax:

Sun Country Mortgage Investment Corporation

Suite 200, 136-17 Avenue NE
Calgary, Alberta T2E 1L6
Phone: (403)291-9795
Fax: (403) 291-7016
Toll Free: 877-291-9795