TORONTO, March 18, 2015 /CNW/ - Firm Capital Property
Trust ("FCPT" or the "Trust") (TSXV : FCD.UN) is
pleased to announce that it is proceeding with a non-brokered
private placement offering of units in the capital of the Trust
("Units") pursuant to which the Trust will raise gross
proceeds of approximately $2,985,300
and issue approximately 558,000 Units at a price of $5.35 per Unit. Subject to the approval of
the TSX Venture Exchange, the offering is expected to close on or
about March 23, 2015. The Trust will
use the net proceeds of the offering to strengthen the Trust's
balance sheet and to fund future acquisitions.
Further information about the Trust can be found by selecting
the Firm Capital Property Trust link at www.firmcapital.com.
ABOUT FIRM CAPITAL PROPERTY TRUST
FCPT 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 offering and the closing of
the offering. 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.
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.
SOURCE Firm Capital Property Trust