Mr. Eli Dadouch reports

FIRM CAPITAL MORTGAGE INVESTMENT CORPORATION ANNOUNCES AUGUST AND SEPTEMBER 2020 DIVIDENDS

Firm Capital Mortgage Investment Corp.'s board of directors has declared a monthly cash dividend of 7.8 cents per common share (subject to adjustment in the discretion of the board of directors) payable on each date set out in the attached table to holders of common shares of record at the close of business on the corresponding record date set out in the attached table.

Record date        Dividend payment date

Aug. 31, 2020             Sept. 15, 2020   
Sept. 30, 2020             Oct. 15, 2020     

The corporation has in place a dividend reinvestment plan (DRIP) and share purchase plan (plan) that is available to its shareholders. Shareholders are reminded that they can participate in the DRIP and the plan. Participant shareholders pay no commission for common shares issued from treasury.

Dividend reinvestment plan

The DRIP allows participants to have their monthly cash dividends reinvested in additional common shares of the corporation. A 3-per-cent discount will only apply if the weighted average trading price, calculated during the five trading days immediately preceding each dividend payment date, is higher than $14.10.

Share purchase plan

Once registered with the DRIP, participants have the right to purchase additional common shares under the plan, totalling no greater than $12,000 per year and no less than $250 per month.

For further information, including answers to frequently asked questions about the DRIP and plan, please refer to the company's website, and select Firm Capital Mortgage Investment under the heading fund management, which also includes enrolment information. If you have any questions, please contact investor relations at the corporation by calling 416-635-0221.

About Firm Capital Mortgage Investment Corp.

The corporation, through its mortgage banker, Firm Capital Corp., is a non-bank lender providing residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine and equity investments. The corporation's investment objective is the preservation of shareholders' equity, while providing shareholders with a stable stream of monthly dividends from investments. The corporation achieves its investment objectives through investments in selected niche markets that are underserviced by large lending institutions. Lending activities to date continue to develop a diversified mortgage portfolio, producing a stable return to shareholders. The corporation is a mortgage investment corporation (MIC) as defined in the Income Tax Act (Canada). Accordingly, the corporation is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after Dec. 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the corporation had been made directly by the shareholder. Full reports of the financial results of the corporation for the year are outlined in the audited financial statements, and the related management discussion and analysis of the corporation, available on the SEDAR website. In addition, supplemental information is available on the corporation's website.