TORONTO, Dec. 2, 2014 /CNW/ - Firm Capital Property
Trust ("FCPT" or the "Trust") (TSXV : FCD.UN) is
pleased to announce that today it closed the second and final
tranche of its previously announced private placement of units in
the capital of the Trust ("Units"). Under the second
tranche of the private placement, the Trust issued an additional
157,100 Units at a price of $5.35 per
Unit for gross proceeds of $840,485. The Units issued by the Trust
under the second tranche of the private placement are subject to
customary hold periods under applicable Canadian securities laws
expiring on April 3, 2015.
Under the first and second tranches of the private placement,
the Trust issued an aggregate of 1,864,445 Units at a price of
$5.35 per Unit for gross proceeds of
approximately $10,000,000 and paid
aggregate broker commissions of approximately $244,500.
Neither the TSX Venture 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.
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, will source, syndicate and participate in investments.
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 regarding, among other things,
the use of the net proceeds from the private placement. 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 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.
SOURCE Firm Capital Property Trust