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Canadian Funding Corp Innovations, Apr. 13, 2010 – Full Funding of $15.5M Provided for 34 Unit Condo Development in Southern Ontario Without Any Presales.
Canadian Funding Corporation, in conjunction with its CEO, Moishe Alexander, recently funded a 34 unit condominium development in Southern Ontario. The project, which has now been completed, is 100% sold out.
Moishe Alexander and his co-lenders funded the deal with no presales when the bank said no. The project is now complete with 100% sell out and the developer says “Thanks to Canadian Funding Corporation we were able to develop this 34 unit premiere condominium project which is 100% sold out and will be another anchor project, Thanks Moishe”.
Moishe Alexander noted that the economics of the deal made sense, even though it did not meet the criteria that banks use for funding. As a result, the Canadian Funding Corporation was able to provide funding.
About Moishe Alexander and the Canadian Funding Corporation
As Founder and President of Canadian Funding Corporation, Mr. Moishe Alexander has led the way in funding commercial mortgages and small to large construction projects, including large multi-residential building sites.
When no other lender would assist families in need of a third mortgage to save their homes, Mr. Moishe Alexander provided the necessary relief. Moishe Alexander led his team of real estate and mortgage lending experts at Canadian Funding Corporation in creating a specific funding plan to keep families in their homes.
Canadian Funding Corporation was developed in 2005 by Moishe Alexander and is based out of the greater Toronto, Ontario area. By competently assessing the risks involved, Moishe Alexander is able to analyze all options available and provide the best solution for his respective clients, even if banks or private lenders have turned them away before. Through Canadian Funding Corporation and the large network he has acquired in the mortgage and finance business over the past three years, Moishe Alexander has access to over $75 million in private funds and, therefore, is able to fund just about any transaction.
Mr. Moishe Alexander is also a philanthropist and donates a great deal of his personal time to the community. Moishe Alexander enjoys helping the poor and families in need, regularly donating to charities such as the United Chesed Charity, the Jada Foundation, the Humane Society, and the Canadian Cancer Society. When not working at Canadian Funding Corporation, Moishe Alexander is busy coordinating committees for events held by the many aforementioned charities.
Canadian Funding Corp Innovations, Sept. 9, 2009 – Barrick Gold (ABX.TO) shares fell more than 4 percent on Wednesday, as investors reacted to the dilutive impact of a planned equity offering that could be worth as much as $4 billion.
Barrick, in a move that shows its faith that gold will continue to rise, announced an equity sale of at least $3 billion late on Tuesday, to be used to eliminate all of its fixed-price gold hedges and a portion of its floating hedges.
On Wednesday morning the world’s top gold miner boosted the offering amount to at least $3.5 billion, or as much as $4 billion if an overallotment is exercised, citing strong investor demand.
Buying back the hedges — which will result in a $5.6 billion charge to third-quarter earnings — should remove a major overhang on the company’s shares, as investors have long called for Barrick to completely exit its hedge book.
During times of weak prices, gold miners often sell a portion of their future production to protect, or hedge, against the possibility that prices will fall.
When prices rise, as they have done since 2001, the company suffers because value of the future production they’ve sold does not increase with the gold price.
Barrick will spend $1.9 billion to eliminate its entire fixed-price position of 3 million ounces — on which the company essentially loses money every time gold rises — and will pay $1 billion to buy back a portion of its floating-price position.
Jennings Research analyst Ron Coll called the move positive, both in terms of the company’s ability to fully benefit from rising gold prices and in terms of what it suggests about Barrick’s own expectations for the metal.
“It is a signal that the industry’s largest producer does not want to be caught out in what it views as a fundamentally and inflationary driven increasing gold price environment,” he said in a note.
He maintained a C$50 target on the shares, despite the dilutive impact of the offering, which could raise Barrick’s share count by as much as 12.5 percent.
Investors, however, put pressure on the stock following a delayed open on the Toronto Stock Exchange, selling it down C$1.75 to C$40.70. The price of gold XAU=, meanwhile, was hovering just below $1,000 an ounce, having risen about 5 percent so far this month.
Blackmont Capital’s Richard Gray cut his target on Barrick stock to C$48.50 from C$49.00, but said the move was a major positive for both the company and the entire gold market.
“From an overall market standpoint, the buyback of the 3 million ounces in the market should have a positive impact, but just as important is the monumental signal by the world’s largest gold company that it believes gold prices are poised to increase further,” he said in a note.
“We believe this move by Barrick will help to sustain gold prices above $1,000 an ounce over the next 6-12 months.”
Open Exchange: Spotlight – Barrick Gold Corp. – Bloomberg
Shaping the Post-Crisis World – Live! From World Economic Forum in Davos, Switzerland: Interview with Barrick Gold Chairman Peter Munk
