Bonds issued by CheckMark are available for subscription by Canadians pursuant to the provisions of an Offering Memorandum which discloses all of the material information pertaining to CheckMark, its business and the Bonds being issued. The Offering Memorandum also contains audited financial statements prepared by its auditors Bassi & Karimjee LLP. Please refer to the Offering Memorandum for all information regarding an investment in the CheckMark Bonds
The Offering Memorandum is available only to qualified Canadian investors and is provided by Exempt Market Dealers (“EMD’s) who are authorized to determine whether an investment in the CheckMark Bonds is a suitable investment for each qualified investor. CheckMark’s principal EMD is Meadowbank Asset Management Inc. which is an EMD and Portfolio Manager based in Toronto. A dealing representative from Meadowbank will be pleased to answer any questions that may arise with respect to the investment of RRSP funds in the CheckMark Bonds.
The CheckMark Bonds carry an annual fixed rate of interest. The interest rate is determined based upon the Series of Bonds that is subscribed for.
Interest is calculated and paid on an annual basis. Bondholders may elect to have the interest re-invested in further Bonds pursuant to the Interest Re-investment Plan (IRIP).
When interest is reinvested in a registered plan the interest compounds on a tax-deferred basis until the Bonds are redeemed.
The CheckMark Bonds have a term of 10 years. At the five year mark, CheckMark will redeem 50% of the original Bonds together with the additional Bonds representing interest that has been reinvested.
At maturity of the Bonds in 10 years, the balance of the Bonds will be redeemed together with all additional Bonds representing accrued interest.
Provided that the Bonds are held in a registered account, all interest will compound on a tax deferred basis until the cash withdrawn.
CheckMark is committed to providing its Bondholders with a steady and predictable return on investment over a ten year term. Liquidity is provided by cash redemptions at the 5 year and 10 year anniversaries.
CheckMark provides an alternative investment opportunity with a fixed rate of return that may be held in RRSP and other registered accounts.
About The Company
CheckMark Financial Corporation (“CheckMark”) is a Canadian company formed in 2019 with its head office in Mississauga, Ontario.
Since 2020, CheckMark has issued Bonds pursuant to an Offering Memorandum to qualified Canadian investors. These Bonds are qualified to be held in RRSP’s and other registered accounts. The Bonds carry a fixed rate of interest, depending on the Series of Bonds that is subscribed for. Interest is paid on an annual basis unless a Bondholder has elected to have the interest reinvested in additional Bonds.
CheckMark earns revenues from lending cash to companies engaged in making consumer loans to Canadians. These loans are for the purpose of financing the purchase of timeshare, vacation club memberships or fractional ownership located in vacation destinations such as Mexico, Cuba, and the Caribbean. These loans are made primarily to Capital Squared Financial Inc. (“CSF”) based in Ottawa, Ontario. CSF is responsible for the origination of consumer loans and the administration of monthly payments over the term of the loans.
CheckMark earns revenues funding through consumer loans made to Canadians for the purpose of financing their vacation ownership purchases. At resorts outside of Canada there are no available alternate financing options denominated in Canadian dollars.