TMXgroup

January 17, 2012

Timbercreek Senior Mortgage Investment Corporation (the "Company") - An application has been granted for the original listing in the Industrial category of up to 15,415,297 Class A Shares of the Company, all of which will be issued and outstanding upon completion of a public offering and a simultaneous private placement of subscription receipts (the public offering and the private placement, together the "Offering"). Upon closing of the Offering, each subscription receipt will be exchanged for 1.0525 Class A Shares without payment of additional consideration.

Listing of the Class A Shares will become effective at 5:01 p.m. on Wednesday, January 18, 2012 in anticipation of the Offering closing on Thursday, January 19, 2012. The Class A Shares will be posted for trading at the opening on January 19, 2012.

Registration of interests in and transfers of the Class A Shares will be made solely through the book-entry only system maintained by CDS Clearing and Depository Services Inc. ("CDS"). Class A Shares must be purchased, transferred and surrendered for redemption through a CDS Participant. Upon the acquisition of Class A Shares, the owner will receive only the customary confirmation.

Additional information on the Class A Shares may be found in the Prospectus, which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

Stock Symbol: "MTG"   CUSIP: 88708X 10 7   Trading Currency: CDN

Temporary
Market Maker: Canaccord Genuity Corp.

Other Markets: None

Head Office
Address: 1000 Yonge Street, Suite 500
Toronto, Ontario
M4W 2K2
Email Address: cmorris@timbercreekfunds.com
Website: www.timbercreekfunds.com

Head Office
Telephone Number: (416) 306-9967

Fax Number: (416) 848-9494

Chief Financial Officer: Ugo Bizzarri

Chief Executive Officer
& Corporate Secretary: R. Blair Tamblyn

Investor Relations: Carrie Morris
(416) 306-9967 extension 250

Manager: Timbercreek Asset Management Ltd.

Incorporation: The Company was incorporated under the Canada Business Corporation Act pursuant to articles of incorporation dated December 1, 2011.

Fiscal Year End: December 31

Nature of Business: The Company will invest in a diversified portfolio of first mortgages (or customized first mortgages) that are secured primarily by residential (including multi-residential) real estate as well as office, retail and industrial properties primarily located in large urban markets and their surrounding areas. The customized first mortgages will be primarily secured by income-producing assets where interest payments on the mortgage can be serviced from cash flow generated by the underlying assets.

Transfer Agent &
Registrar: CIBC Mellon Trust Company at its principal office in Toronto.

Distributions: Commencing in February 2012, the Company intends to make monthly cash distributions by way of dividend to holders of Shares of record on the last business day of each month. For each Shares class in the capital of the Company, dividends paid will be equivalent to that calss of Share's pro rata portion of the funds available for distribution with respect to all classes of Shares. Declared distributions will be paid within 15 days following the end of each month. For the period ending January 31, 2013, the Manager is currently targeting an aggregate annualized yield of approximately 6%, net of all fees and expenses of the Company. Thereafter, in the long-term, the Manager is targeting an aggregate annual yield (net of all fees and expenses of the Company) equal to the then current yield to maturity on the two-year Government of Canada bond yield (the "2-Yr GOC Yield") plus 350 basis points. For the 12 month period ending November 15, 2011, the average 2-Yr GOC Yield was 1.46%. The Manager will manage the Company so as to seek to achieve the targeted yields set forth in the Prospectus, however, no assurance is given that the Company will achieve them.

Public Offering: Pursuant to the terms of the Prospectus, Raymond James Ltd., BMO Nesbitt Burns Inc., TD Securities Inc., CIBC World Markets Inc., GMP Securities L.P., RBC Dominion Securities Inc., Manulife Securities Incorporated, Scotia Capital Inc., Canaccord Genuity Corp., HSBC Securities (Canada) Inc., Macquarie Capital Markets Canada Ltd. and National Bank Financial Inc., as agents, are offering to the public up to 10,500,000 Class A Shares and/or Class B Shares (unlisted) at a price of $10.00 each.