TORONTO, Feb. 7, 2014 /CNW/ - Firm Capital Property Trust ("FCPT" or the "Trust") (TSXV : FCD.UN) is pleased to announce today that it closed the
second and final tranche of its previously announced private placement
of units in the capital of the Trust ("Units"). The aggregate gross proceeds raised by the Trust under its private
placement is equal to approximately $7.3 million at a subscription
price of $5.30 per Unit.
The Units issued by the Trust pursuant to the second tranche of its
private placement of Units are subject to customary hold periods under
applicable Canadian securities laws expiring on June 8, 2014.
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 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 of the Firm Capital Property Trust 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
