Lumby Development Ltd.

Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of the $8.7 million project financing for Monashee Mews, a 46-bed residential care facility in Lumby, BC. The credit facility was funded by Sun Life Assurance Company of Canada and The Empire Life Insurance Company.

Monashee Mews is owned by Lumby Developments Ltd., a related company of Insite Housing, Hospitality and Health Services Inc (“Insite”). The construction of the project started in April 2012 and occupancy is targeted to commence in March 2013.

Partner & Co-CEO of Stonebridge, Bob Colliver, stated: “This is our second project working with Insite Housing, Hospitality & Health Services Inc. and Fountainhead Capital and we are proud to have had the opportunity to work with this team of dedicated professionals once again, and particularly delighted to have successfully arranged construction and long term financing for Monashee Mews, a facility that will serve the local residents of Lumby, BC for years to come.”

“The successful construction and long term financing of the Monashee Mews facility is an important milestone for us” noted the V.P. Business Development of Insite Housing, Hospitality & Health Services Inc., Johann Burger.  “We look forward to providing dedicated and vibrant services for the residents of Monashee Mews.  Once again, we were very satisfied with the terms and conditions of the financing and impressed with  Stonebridge’s financial efficiency and thoroughness.”

Insite Housing, Hospitality & Health Services Inc. provides independent, supportive, assisted living and complex care services to seniors in 6 communities throughout BC. Insite partners with health authorities, private operators, non-profit groups and BC Housing working to develop, operate and evaluate innovative programs for seniors. Insite has provided nearly 10 percent of the funded ILBC Assisted Living Units in British Columbia.

Stonebridge Financial Corporation is a specialized financial services company with a proven reputation and expertise in structuring financings for syndication in the Canadian institutional marketplace. Stonebridge prides itself on providing project and structured debt financing, with a focus in the energy, infrastructure, and healthcare sectors.  Stonebridge has arranged over $2.1 billion of project debt financing.