Morrison Laurier Mortgage Corporation by xiuliliaofz


									Morrison Laurier Mortgage Corporation

              April 2010
                                   Investment Highlights

                                 •Investment manager has
•Attractive opportunity to
                                 committed $8 million of his
invest in higher yielding
                                 own funds
Mortgage market with
diversification                  •Participation in Real Estate
                                 without exposure to Real
•Current yield at 8% net of      Estate market volatility
                                 •Diversification between
•Established Investment          Residential and Commercial
Manager, Morrison Financial
Mortgage Corporation , a         •Secured against hard assets
company with a 24 year track
record of successful investing
                                 •Targeted to be RRSP Eligible
•Conservative Investment         •Retractable Preferred Shares
Policies and Portfolio            (Quarterly)
                                     Investment Management

Morrison Financial Mortgage Corporation

A wholly-owned subsidiary of Morrison Financial Services
Limited which was founded by David Morrison in 1987.

Morrison Financial Mortgage Corporation
Specialized mortgage lending to developers, builders
and commercial landlords
                                         Investment Management

• Focus on capital preservation and superior, stable returns
• Mortgage portfolio is conservative, rarely extending beyond
  65 percent loan to value with a high level of expertise healthy
  degree of skepticism applied in assessing value.
• Substantial equity commitment by the borrower means
  participation is in the real estate sector, not in the real estate
• Even with the depth of the recent recession, the company did
  not experience a single default. In fact, throughout the
  company’s 24 year history, there has never been a loss
                                           Management Experience

David Morrison, President of Morrison Laurier Mortgage Corporation
                President of Morrison Financial Services Limited

Mr. Morrison is a graduate of the University of Toronto and Osgoode Hall Law
School of York University (1981). In 1987, he left the practice of law to form
Morrison Financial Services Limited. That company’s focus at that time was to
provide asset-based financing to small and medium-sized businesses that did not
qualify for working capital credit under the stringent terms normally imposed by
the major banks. This continues as a substantial part of Morrison Financial's
business today. During its 24-year history Morrison Financial has expanded its
range of service offerings to include mortgage lending, through its wholly owned
subsidiary, Morrison Financial Mortgage Corporation. It has also become the
leading lender to condominium corporations that require funds to complete
major repairs to their properties.
                                     Management Experience cont’d

Adam Rose, Director of Morrison Laurier Mortgage Corporation
          Chief Executive Officer of Laurier Capital Holdings

Mr. Rose studied history and economics at York University and has over 20 years of
professional experience as an investment industry executive. He has founded two
successful investment firms; most recently as a Founding Partner and Chief Executive
Officer of Laurier Capital Holdings Inc., the sole shareholder of Portfolio Strategies
Securities Inc. ("PSSI"). PSSI is a member firm of the Investment Industry Regulatory
Association of Canada ("IIROC"), Prior to founding the two IIROC firms, he was an
Investment Advisor with Midland Walwyn/Merrill Lynch and Nesbitt Burns Inc. In 1989,
Mr. Rose founded Daveque Capital Inc., a registered investment firm, where he
structured and syndicated over $200 million in real estate investments, before selling
the firm. Prior to 1989, Mr. Rose was with Metro Financial Group Inc. and was active in
the structuring and syndication of over $3 billion of investment properties. Mr. Rose has
been a director of a Canadian public company as well as managing director of a family
holding company with extensive real estate assets.
                                           Types of Investments

• Short term mortgage construction loans
consisting of multi-family residential
projects and income producing properties

• Short term mortgage development loans
to finance the acquisition of land
infrastructure development

• Short & intermediate term bridging
mortgage loans tailored for existing
projects seeking additional capital for
further opportunities.
                                               Investment Criteria

• First Mortgages – These are the primary vehicle for investment . They
will rarely exceed 65% (and may not exceed 75%) of the appraised value
of the underlying real property

• Second Mortgages – These will only be included in the portfolio if they
represent an extraordinary opportunity and may not exceed 80% of the
appraised value of the under lying real property

• Secured by mortgagors’ equity in residential & commercial properties

• Mortgages are registered in appropriate Land Titles Office
                                                 Portfolio Composition

                         The composition will vary over time as the Investment
                         Manager assesses the appropriate strategy given overall
                         market conditions and outlook

• Property type & geographical diversification consisting of:

          Commercial - strip malls, freestanding buildings & franchise units
          Residential – apartments, townhouses, single family subdivisions

• Short term loans, intermediate loans and long term loans, typically 18 to 24

• Payments are primarily interest only. Principle will be repaid as mortgages are
partially or fully discharged
                                                                   Current Mortgage Portfolio

•   Location                                Mortgage       Position       Start         Term        Rate     Portfolio
                                            Amount                        Date                               Weight
•   605 Rogers Rd. Toronto                  $ 810,000      2nd            Dec 15 08     22 Months   10.25%   9.64%
•   645 John Counter Blvd. Kingston         $ 1,261,000    1st            Mar 31 10     36 Months   10.25%   15.01%
•   645 John Counter Blvd. Kingston          $ 550,000     2nd            Mar 31 10     3 Months    15.00%   6.54%
•   1 036 & 1038 Colborne St. East Brantford $ 935,000     1st            Feb 1 10      12 Months   10.25%   11.13%
•   21 Diana Ave. Brantford                 $ 1,100,000    1st            Mar 1 10      36 Months   10.25%   13.09%
•   36-50 Francis Street Kitchener          $ 2,826,000    2nd            Oct 1 09      24 Months   11.00%   33.64%
•   20 McConkey Cr. Brantford                $ 900,000      1st           July 10       24 Months   10.25%   10.71%
•   Total Mortgages                          $ 8,376,000                                                     99.71%
•   Cash                                     $24,000                                                         2.855%
•   Total Portfolio                         $8,400,000                                                       100.00%

•   Current Distribution to Preferred Shareholders is 8% per annum, payable quarterly

                                     The Offering

•Shareholder retraction privileges

• Current Yield of 8%

• Class A Preferred Shares

• Total offering size $50 million

• Targeted to be RRSP eligible

                   For further information or to receive a copy of the Offering
                   Memorandum please contact your investment representative

Adam Rose, Director
Morrison Laurier Mortgage Corporation
90 Adelaide St. West
Suite 801
Toronto, Ontario M5H 3V9

Tel: (416) 367-0999
Fax: (416) 367-0997

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