/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 18, 2019 /CNW/ - Firm Capital Property Trust
("FCPT" or the "Trust"), (TSX-V: FCD.UN) is pleased
to announce that it that it has closed its previously announced
public offering of 3,450,000 trust units at a price of $6.75 per trust unit for gross proceeds of
$23,287,500 with a syndicate of
underwriters led by Canaccord Genuity, CIBC Capital Markets, and TD
Securities as joint bookrunners, and including National Bank
Financial Inc., Scotia Capital Inc., Echelon Wealth Partners Inc.,
Raymond James Ltd., Industrial Alliance Securities Inc., Laurentian
Bank Securities Inc. and Desjardins Securities Inc. (collectively,
the "Underwriters").
The closing includes 450,000 trust units issued upon the full
exercise by the Underwriters of the over-allotment option granted
to them pursuant to the underwriting agreement dated December 11, 2019 between FCPT and the
Underwriters.
The net proceeds of the offering will be used to repay
indebtedness and for working capital and general trust
purposes.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended, or any state
securities laws, and may not be offered or sold in the United States unless an exemption from
registration is available. This news release is for information
purposes only and does not constitute an offer to sell or a
solicitation of an offer to buy any securities of FCPT in any
jurisdiction.
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 Trust Units, without incurring
brokerage fees or commissions. Under the terms of the Plan, FCPT's
Unitholders may purchase a minimum of $1,000 of Trust 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 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. These risks
include, but are not limited to, the risks related to FCPT's
business, including those identified in FCPT's annual information
form for the year ended December 31,
2018 under the heading "Risks and Uncertainties" (a copy of
which may be obtained at www.sedar.com). 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 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. Additional information about the Trust is
available at www.firmcapital.com or www.sedar.com.
SOURCE Firm Capital Property Trust