Mr. John Robertson reports

INTEGRATED ASSET MANAGEMENT CORP. ANNOUNCES INCREASING EARNINGS AND DECLARES DIVIDEND

Integrated Asset Management Corp. has provided its unaudited financial results for the quarter ended June 30, 2017.

                                   HIGHLIGHTS
                             (in thousands of dollars)

                                                      Three months ended         Nine months ended
                                                                 June 30,                  June 30,
                                                       2017         2016         2017         2016 

Invested capital                                 $1,820,000   $1,559,000   $1,820,000   $1,559,000 
Committed capital to be invested                   $685,000     $728,000     $685,000     $728,000 
Total assets under management (AUM)              $2,505,000   $2,287,000   $2,505,000   $2,287,000 
Revenues before the undernoted                       $4,128       $2,952      $10,953       $8,053 
Investment (loss)                                        $-         $(72)       $(538)       $(94)
Total revenues                                       $4,128       $2,880      $10,415      $7,959 
EBITDA (1)                                             $809         $308       $1,781       $(491)
Net income (loss) from continuing operations           $561         $244       $1,038       $(404)
Gain from sale of discontinued operations, net 
of income taxes                                          $-           $-         $699        $401 
Net income (loss) from discontinued operations, 
net of income taxes                                      $-         $(38)        $(69)       $226 
Net income (loss) attributed to common 
shareholders of the corporation                        $555         $209       $1,675        $206 
Earnings per share                                     
Continuing operations                                 $0.02        $0.01        $0.04      $(0.01)
Discontinued operations                                  $-       $(0.00)       $0.02       $0.02 
Total                                                 $0.02        $0.01        $0.06       $0.01

(1) Earnings before interest, taxes, depreciation and amortization, and stock-based compensation 
    (EBITDA) are a non-IFRS (international financial reporting standards) earnings measure used 
    by Integrated Asset.

Assets under management were approximately $2.5-billion at June 30, 2017, versus $2.3-billion for the quarter ended June 30, 2016.

Net earnings for the quarter ended June 30, 2017, from continuing operations were $600,000 or two cents per share versus net earnings from continuing operations of $200,000 or one cent per share in the quarter ended June 30, 2016. Management fees and other income were higher at $4.1-million versus $2.9-million in the same quarter in 2016. The corporation reported consolidated expenses for the quarter of $3.4-million, up $800,000 from $2.6-million in the third quarter of fiscal 2016.

Earnings before interest, taxes, depreciation and amortization, and stock based-compensation (EBITDA) improved to $800,000 from $300,000 in the same quarter of the previous fiscal year.

Cash flow from operations for the nine months ended June 30, 2017, was $1.6-million compared with negative $700,000 in the same nine months of the previous fiscal year.

Assets and committed capital under management (AUM) remained unchanged at $2.5-billion from the previous quarter ended March 31, 2017. Of that, approximately $685-million is committed but not yet invested capital from real estate, private debt and infrastructure debt operations.

John Robertson, president and chief executive officer, said: "This quarter represents our first quarter as a strictly institutional manager focusing on private debt and real estate products. The results from this strategy are starting to be realized with revenues for the nine months up 31 per cent over the same period in fiscal 2016. Expenses are up 4 per cent over this same period. The increase relates to variable expenses, primarily employee bonuses, as a result of increased profits, and staff adjustment costs. Net income from continuing operations has increased by $1.4-million compared with the same nine month period in 2016.

"We earn our management fees on invested capital, rather than committed capital. The debt and real estate teams invested $69.8-million during the quarter earning $1.0-million in acquisition and commitment fees, thus raising recurring, long-term management fee revenue. In the comparable quarter of fiscal 2016, IAM earned $500,000 in acquisition and commitment fees. We are pleased with these results and gratified by the success of our strategy. We believe IAM is well positioned to continue to build on the strength reflected in these results.

"During the third quarter we made good progress in deploying committed but uninvested capital. The company will generate growth in recurring, long-term management fees for the balance of the year as additional investments are made. Our assets under management remained steady at $2.5-billion, while our invested assets increased to $1.8-billion. Committed capital of $685-million remains to be invested, which will lead to revenue growth as these commitments are deployed."

The board of directors of the corporation has approved payment of a regular annual dividend on its outstanding shares of six cents per common share which will be paid on Sept. 7, 2017, to shareholders of record on Aug. 17, 2017. Going forward the board of directors of the corporation has approved a change in dividend payment practice from annual to quarterly. The intention of the corporation going forward is to distribute a two-cent quarterly dividend, to reflect the higher level of recurring management fees. The declaration and payment of future dividends are subject to approval by the corporation's board of directors. There can be no assurance that the corporation's board of directors will declare future dividends.

John Robertson, president and chief executive officer, said, "We are pleased that our company's improved prospects for profitability have allowed us to increase our expected dividend by 33 per cent to eight cents annually, paid quarterly."

For detailed financial statements for the quarter, including management's discussion and analysis, please refer to Integrated Asset's website or SEDAR after Aug. 9, 2017.

Integrated Asset is one of Canada's leading alternative asset management companies with approximately $2.5-billion in assets and committed capital under management in real estate and private debt as of Aug. 3, 2017.