TORONTO, Nov. 8, 2019 /CNW/ - Firm Capital Property
Trust ("FCPT" or the "Trust"), (TSXV : FCD.UN)
announced today that it will be increasing the maximum size of its
previously announced (see press releases dated September 25, 2019 and October 29, 2019) non-brokered private placement
(the "Private Placement") of trust units ("Trust
Units") at a price of $6.40 per
unit from $5,000,000 to $6,000,000. In addition, the Trust has
received an extension from the TSX Venture Exchange to extend the
deadline for closing the Private Placement from November 11, 2019 to November 21, 2019. The Trust will pay a
finder's fee of 4.0% of the gross proceeds to certain eligible
persons and/or dealers for subscriptions to the Private Placement
completed by qualified investors.
Net proceeds of the Private Placement will be used by the Trust
to fund prospective acquisitions, to repay amounts drawn on the
Trust's credit facility, for working capital and for general
corporate purposes.
DISTRIBUTION REINVESTMENT PLAN & UNIT PURCHASE
PLAN
The Trust has in place a Distribution Reinvestment Plan
("DRIP") and Unit Purchase Plan (the "Plan"). Under
the terms of the DRIP, FCPT's Unitholders may elect to
automatically reinvest all or a portion of their regular monthly
distributions in additional Units, without incurring brokerage fees
or commissions. Under the terms of the Plan, FCPT's Unitholders may
purchase a minimum of $1,000 of Units
per month and maximum purchases of up to $12,000 per annum.
ABOUT FIRM CAPITAL PROPERTY TRUST
Firm Capital
Property Trust is focused on creating long-term value for
Unitholders, through capital preservation and disciplined investing
to achieve stable distributable income. In partnership with
management and industry leaders, The Trust's plan is to co-own a
diversified property portfolio of multi-residential, flex
industrial, net lease convenience retail, and core service provider
professional space. In addition to stand alone accretive
acquisitions, the Trust will make joint acquisitions with strong
financial partners and acquisitions of partial interests from
existing ownership groups, in a manner that provides liquidity to
those selling owners and professional management for those
remaining as partners. Firm Capital Realty Partners Inc.,
through a structure focused on an alignment of interests with the
Trust sources, syndicates and property and asset manages
investments on behalf of the Trust.
FORWARD LOOKING INFORMATION
This press release may
contain forward-looking statements. In some cases, forward-looking
statements can be identified by the use of words such as "may",
"will", "should", "expect", "plan", "anticipate", "believe",
"estimate", "predict", "potential", "continue", and by discussions
of strategies that involve risks and uncertainties. The
forward-looking statements are based on certain key expectations
and assumptions made by the Trust. By their nature, forward-looking
statements involve numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and
various future events will not occur. Although management of the
Trust believes that the expectations reflected in the
forward-looking statements are reasonable, there can be no
assurance that future results, levels of activity, performance or
achievements will occur as anticipated. Neither the Trust nor any
other person assumes responsibility for the accuracy and
completeness of any forward-looking statements, and no one has any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or such other
factors which affect this information, except as required by
law.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, which may be made only by means of
a prospectus, nor shall there be any sale of the Units in any
state, province or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under securities laws of any such state, province or
other jurisdiction. The Units of the Firm Capital Property Trust
have not been, and will not be registered under the U.S. Securities
Act of 1933, as amended, and may not be offered, sold or delivered
in the United States absent
registration or an application for exemption from the registration
requirements of U.S. securities laws.
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. Additional information about the Trust is available at
www.firmcapital.com or www.sedar.com.
SOURCE Firm Capital Property Trust