• As of September 1, 2024, Premiere Canadian Mortgage Corp. (PCMC) and Classic Mortgage Corporation (Classic), both mortgage investment corporations (MIC), amalgamated with PCMC continuing as the successor entity.  
  • From inception (1996) to the date of amalgamation, PCMC reported positive net annual returns to shareholders averaging 8.71% per annum over the past 20 years.  Established a few years later in 2003, Classic was also consistently profitable, generating an annual average net return of 8.34% over the same 20 year period prior to amalgamation.  As of August 31, 2024, the final annual net returns to shareholders (pre-amalgamation) for PCMC was 8.50% (12 months reporting) and 8.80% for Classic (8 months reporting).
  • PCMC is managed by Premiere Home Mortgage Ltd., d.b.a. Premiere Mortgage, a mortgage brokerage and management company, appropriately licensed in the provinces of British Columbia, Alberta and Ontario.  Premiere Mortgage has been in business since 1985 and has managed PCMC since inception in 1996. Established in 2003, Classic was managed by Can Terra Financial Inc. (Can Terra).  From 2012, Can Terra and Premiere Mortgage had common ownership/management.  Premiere Mortgage provides an experienced management team with combined mortgage lending and management experience totaling well over 75 years.
  • PCMC and Premiere Mortgage are compliant with all with applicable securities, mortgage brokering and/or lending legislation in the various provincial jurisdictions where both operate.
  • Shares of a mortgage investment corporation (MIC) can be purchased by individuals, couples, partnerships and corporations. Shares are also an eligible investment for self-administered registered accounts, specifically RRSP, RRIF and/or TFSA accounts.
  • Each shareholder accounts holds 1 Class A share (voting), with the balance of their investment in Class B shares (non-voting).  PCMC holds an Annual General Meeting (AGM) each year, usually in November, where eligible Class A shareholders are permitted to attend and vote on matters properly presented during the AGM.
  • All share purchase and redemption transactions are facilitated by our solicitors who also hold the shares in trust for our non-registered shareholders (individuals and/or corporations). With registered investments (RRSP, RRIF, and/or TFSA), shares are held by the trustees acting on behalf of the investor.
  • PCMC completes audited annual financial statements.  Interim monthly statements, monthly mortgage portfolio summaries, and periodic shareholder reporting are presented to shareholders by email as they are released and are posted to this website under the Reports section.
  • PCMC fiscal year end date is August 31st.  Annual dividends (interest income) must be distributed to shareholders within 90 days of the fiscal year end date.
  • PCMC relies on the Offering Memorandum Exemption. The Offering Memorandum is available through our Exempt Market Dealer (EMD), Fairmont Asset Management Inc.
  • The Office of the Registrar of Mortgage Brokers at the Financial Institutions Commission regulates the mortgage brokering and lending activities of Mortgage Investment Corporations (MICs) under the Mortgage Brokers Act. The Registrar and the Mortgage Brokers Act do not regulate the capital raising and investment marketing activities of MICs which are subject to securities legislation and regulation.