What you own
Shares in a corporation whose only business is investing in mortgages — not a unit priced daily by a market.
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Put your capital behind
Canadian mortgages.
Lendmax Capital Mortgage Investment Corp. pools investor capital and lends it as residential first and second mortgages, secured by registered charges on Canadian homes. Income comes from interest and lending fees a borrower contracted to pay — not from a share price that moves with the news.
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Someone in their fifties reviewing a statement at home, coffee, unhurried
Control, not wealth display. No yachts, no charts on a wall — the quiet of a plan that is working.
1600×686 · AVIF/WebP · lazy · alt requiredWhere the income comes from
Mortgage interest and lending fees, distributed to shareholders as dividends deemed to be interest for tax purposes.
What secures it
Registered first and second charges on residential property in Ontario, British Columbia and Alberta.
Who can invest
Qualified investors, through a registered exempt market dealer, under prospectus exemptions in National Instrument 45-106.
Why investors choose a mortgage book
Three structural differences from a market-priced fund.
Income is contractual
A borrower's obligation to pay interest is written into a mortgage and secured against a property. That is a different kind of promise from a company's decision to declare a dividend, and it does not change because sentiment did.
Diversification is built in
A single private mortgage exposes you to one borrower and one property. A pooled book spreads that across many loans, positions, borrowers and regions — which is the entire structural argument for a MIC over direct lending.
Lower liquidity, by design
Capital is committed to real transactions with defined terms, so it is not available on demand. Redemption is governed by the corporation's articles and the offering memorandum, with notice periods and the right to defer. Understand this before you invest — it is the trade you are making.
Tax treatment
Why the account you use matters more here than usual.
Under subsection 130.1(2) of the Income Tax Act, taxable dividends from a MIC are deemed to be received by the shareholder as interest on a bond. They carry no dividend tax credit and are taxed at your marginal rate in an open account. Held inside an RRSP, RRIF or TFSA, that same income can compound without the annual tax drag.
MIC shares are intended to be a qualified investment for registered plans. Whether they are qualified for your plan depends on your own circumstances — including whether you and non-arm's-length persons hold 10% or more of a class of shares. Take advice from your own tax adviser before subscribing.
How to invest
Through a registered dealer, with a suitability review.
Securities of the corporation are distributed through Drake Financial, a registered exempt market dealer. A dealing representative completes know-your-client and suitability work before any subscription — your objectives, your risk tolerance, your time horizon, and how a private, illiquid holding fits alongside everything else you own.
Depending on which exemption applies to you, individual investment limits may apply, and a risk acknowledgement form is signed before you invest.
See the four-step intakeGo deeper
Everything an investor should read first.
What a MIC is →
Section 130.1, the qualifying tests, and what flow-through actually means.
The administrator's role →
Who collects the borrower's payment and how it reaches you.
Direct vs. MIC investment →
One mortgage or a share of many — two genuinely different exposures.
How risk is managed →
Asset quality, borrower strength, defined exit.
Past performance →
Quarterly dividends and bonus distributions paid.
Our partners →
The accountants, lawyers and dealer around the corporation.
Speak with a licensed dealing representative.
No pressure and no obligation — a conversation about whether this belongs in your portfolio at all.