TORONTO, Aug. 12, 2022 /CNW/ – Standard Mercantile Acquisition Corp. (TSX: SMA) (the “Company”) today released its financial results for the quarter ended June 30, 2022. The financial statements and MD&A for the three and six months ended June 30, 2022 can be found at www.sedar.com or www.standardmercantileacquisition.com.
Financial Highlights & Business Update
As at June 30, 2022, the Company had two mortgages outstanding. Of the two mortgages remaining, the more significant one is set to mature in December 2022. During the second quarter of 2020, the borrower requested a three month deferral of mortgage payments, due to the inability of tenants to pay rent as a result of the COVID-19 economic and health crisis. The deferral was granted. Regular payments resumed during the third quarter of 2020, and the Company made certain amendments to this mortgage in December 2020, including…
