Mr. Eddy Cocciollo reports

DOMINION LENDING CENTRES INC. AMENDS AND EXTENDS CREDIT FACILITY

Dominion Lending Centres Inc. has amended and extended its credit facilities with Toronto-Dominion Bank, effective Dec. 19, 2023. The maturity date for the credit facilities has been extended from Dec. 22, 2024, to Dec. 19, 2026.

The amended credit facilities comprise two senior credit facilities and a junior term credit facility.

The senior credit facilities provide the corporation with a $15-million revolving credit line and a term facility used to pay out the existing senior facilities (the term facility has $36-million drawn at closing). Interest on the senior credit facilities is based on the prime borrowing rate plus an additional amount determined based on the corporation's total leverage. On closing of the senior credit facilities, the interest rate is anticipated to be equal to the prime borrowing rate.

The junior credit facility provides the corporation with a $4.2-million term loan. The junior credit facility is secured by a first charge over all of the corporation's non-core business assets and a junior security interest over the corporation's core business assets (subject to certain security-sharing rights of the preferred shareholders). Interest on the junior credit facility is based on the prime borrowing rate plus an additional amount determined based on the corporation's total leverage. On closing of the junior credit facility, the interest rate is anticipated to be prime plus 75 basis points.

About Dominion Lending Centres Inc.

Dominion Lending Centres is Canada's leading network of mortgage professionals. Dominion Lending Centres 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. Dominion Lending Centres' extensive network includes over 8,000 agents and over 520 locations. Headquartered in British Columbia, Dominion Lending Centres was founded in 2006 by Gary Mauris and Chris Kayat.

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