Atrium Mortgage Investment Corporation Announces $30 Million Public Offering of Convertible Unsecured Subordinated Debentures

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES


Atrium Mortgage Investment Corporation (TSX:AI) ("Atrium") announced today that
it has entered into an agreement with a syndicate of underwriters bookrun by TD
Securities Inc. and RBC Capital Markets and co-led by CIBC, pursuant to which
the underwriters will purchase $30 million aggregate principal amount of 6.25%
convertible unsecured subordinated debentures of Atrium due March 31, 2019 at a
price of $1,000 per debenture. Atrium has also granted to the underwriters an
over-allotment option to purchase up to an additional $4.5 million aggregate
principal amount of debentures at the same price, exercisable in whole or in
part at any time for a period of up to 30 days following closing of the
offering, to cover over-allotments.


Atrium will use the net proceeds of the offering for general corporate purposes
and to repay existing indebtedness under its revolving operating credit
facility, which will then be available to be drawn, as required, for general
corporate purposes, particularly funding future mortgage loan opportunities.


The offering of debentures is expected to close on or about February 27, 2014
and is subject to certain conditions including, but not limited to, the receipt
of all necessary approvals, including the approval of the Toronto Stock
Exchange.


The debentures will mature on March 31, 2019 and will accrue interest at the
rate of 6.25% per annum payable semi-annually in arrears on March 31 and
September 30 in each year, commencing September 30, 2014. At the holder's
option, the debentures may be converted into common shares of Atrium at any time
prior to the close of business on the earlier of the business day immediately
preceding the maturity date and the business day immediately preceding the date
fixed for redemption of the debentures. The conversion price will be $13.30 for
each common share, subject to adjustment in certain circumstances.


The debentures will be direct, unsecured obligations of Atrium, subordinated to
other senior indebtedness of Atrium, ranking pari-passu to Atrium's existing
5.25% convertible unsecured subordinated debentures due June 30, 2020.


The debentures will not be redeemable before March 31, 2017. On and after March
31, 2017 and prior to March 31, 2018, the debentures may be redeemed, in whole
or in part, from time to time at Atrium's option at par plus accrued and unpaid
interest, provided that the weighted average trading price of the common shares
of Atrium on the Toronto Stock Exchange during the 20 consecutive trading days
ending on the fifth trading day preceding the date on which notice of the
redemption is given is not less than 125% of the conversion price. On and after
March 31, 2018, Atrium may, at its option, redeem the debentures, in whole or in
part, from time to time at par plus accrued and unpaid interest.


Subject to specified conditions, Atrium will have the right to repay the
outstanding principal amount of the debentures, on maturity or redemption,
through the issuance of its common shares. Atrium will also have the option to
satisfy its obligation to pay interest through the issuance and sale of its
common shares.


A preliminary short-form prospectus will be filed by no later than February 12,
2014 with the securities regulatory authorities in all provinces of Canada,
except Quebec. No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities being offered
have not been, and will not be, registered under the United States Securities
Act of 1933, as amended, or any state securities laws, and may not be offered or
sold in the United States unless an exemption from registration is available.
This news release is for information purposes only and does not constitute an
offer to sell or a solicitation of an offer to buy any securities of Atrium in
any jurisdiction. 


About Atrium 

As a mortgage investment corporation, Atrium is a non-bank provider of
residential and commercial mortgages that lends in major urban centres in Canada
where the stability and liquidity of real estate are high. Atrium's objectives
are to provide its shareholders with stable and secure dividends and preserve
shareholders' equity by lending within conservative risk parameters.


Forward-Looking Statements 

This news release contains forward-looking statements. Much of this information
can be identified by words such as "expect to," "expected," "will," "estimated"
or similar expressions suggesting future outcomes or events. Atrium believes the
expectations reflected in such forward-looking statements are reasonable but no
assurance can be given that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon. 


Forward-looking statements are based on current information and expectations
that involve a number of risks and uncertainties, which could cause actual
results or events to differ materially from those anticipated. These risks
include, but are not limited to, risks associated with the ability to satisfy
regulatory, stock exchange and commercial closing conditions of the offering,
the uncertainty associated with accessing capital markets and the risks related
to Atrium's business, including those identified in Atrium's annual information
form for the year ended December 31, 2012 or, when filed, the year ended
December 31, 2013 under the heading "Risk Factors" (a copy of which may be
obtained at www.sedar.com). Forward-looking statements contained in this news
release are made as of the date hereof and are subject to change. All
forward-looking statements in this news release are qualified by these
cautionary statements. Except as required by applicable law, Atrium undertakes
no obligation to update any forward-looking statement, whether as a result of
new information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Atrium Mortgage Investment Corporation
Robert G. Goodall
President and Chief Executive Officer
[phone]


Atrium Mortgage Investment Corporation
Jeffrey D. Sherman
Chief Financial Officer
[phone]
[e-mail]
www.atriummic.com