/THIS NEWS RELEASE IS INTENDED FOR
DISTRIBUTION IN CANADA ONLY AND IS
NOT INTENDED FOR DISTRIBUTION TO UNITED
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TORONTO, April 30, 2019 /CNW/ - Firm Capital Property
Trust ("FCPT" or the "Trust"), (TSX-V: FCD.UN) is
pleased to announce that pursuant to an over-allotment option
granted under the underwriting agreement dated April 17, 2019 between FCPT and a syndicate
of underwriters led by Canaccord Genuity Corp., CIBC Capital
Markets, and National Bank Financial Inc., and including
Scotiabank, TD Securities Inc., Echelon Wealth Partners Inc.,
Industrial Alliance Securities Inc., Raymond James Ltd., Desjardins
Securities Inc., GMP Securities L.P., and Laurentian Bank
Securities Inc. (collectively, the "Underwriters"), the
Underwriters have purchased 321,145 additional trust units of FCPT
("Trust Units") at a price of $6.40 per Trust Unit for gross proceeds of
$2.1 million.
Following the exercise and closing of the over-allotment option,
the Trust has raised aggregate gross proceeds of $28.3 million from its previously announced fully
marketed offering. The net proceeds will be used by the Trust to
fund the cash portion of the purchase price of the acquisition from
First Capital Realty Inc., as previously announced on April 3, 2019, and for working capital and
general trust purposes.
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 own a
diversified property portfolio of multi-residential, flex
industrial, net lease convenience retail, and core service provider
professional space. In addition to standalone 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, including statements regarding the timing for
completion, and the ability to complete, the above-referenced
acquisition involving First Capital Realty Inc. 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. Closing of the aforementioned fully
marketed offering and the acquisition involving First Capital
Realty Inc. remain subject to the final approval of the TSX Venture
Exchange.
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 Trust 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 Trust 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