Use this template to prepare a Prospectus for an offering of units in a mortgage investment trust to investors in Canada. The trust is an unincorporated closed-end investment trust. Its objective is to build a mortgage portfolio, syndicate or pool the mortgages and offer fractional interests to investors. Provisions of the offering include:

• Proceeds will be used to finance acquisition of the initial portfolio, and for future mortgage investments and working capital.
  
• Purchasers may be unable to resell the securities and there is no assurance that a market will develop for the securities.
  
• Unit holders are entitled to one vote per unit, and distributions of excess income from the trust.
  
• Provisions for multiple closings, but no closing will take place immediately following a record date for a distribution of distributable cash.
  
• Investors are eligible to reinvest their distributions from the trust.
  
• Non-residents of Canada may not own more than 49% of the trust units.
  
• Unit holders will generally be required to include their pro rata share of the trust income in their income tax reporting.

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