TORONTO, Nov. 12, 2019 /CNW/ - Firm Capital Property
Trust ("FCPT" or the "Trust"), (TSXV : FCD.UN)
announced today that it has changed its auditors from
PricewaterhouseCoopers LLP ("Former Auditor") to KPMG LLP
("Successor Auditor") effective November 5, 2019. At the request of the Trust,
the Former Auditor resigned as the auditor of the Trust effective
November 5, 2019 and the board of
trustees of the Trust appointed the Successor Auditor as the
Trust's auditor effective November 5,
2019, until the next Annual General Meeting of the
Trust.
There were no reservations in the Former Auditor's audit reports
for any financial period during which the Former Auditor was the
Trust's auditor. There are no "reportable events" (as the term is
defined in National Instrument 51-102 – Continuous Disclosure
Obligations ("NI 51-102")) between the Trust and the Former
Auditor.
In accordance with NI 51-102, the notice of change of auditor,
together with the required letters from the Former Auditor and the
Successor Auditor, have been reviewed by the board of trustees of
the Trust and filed on SEDAR.
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.
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