Firm Capital Mortgage Investment Trust announces closing of rights offering

About this update from Firm Capital Mortgage Investment Corporation

[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n\n\nTHE UNITED STATES/\n\n\nTORONTO, May 2 /CNW/ - Firm Capital Mortgage Investment Trust ("Firm\nCapital" or the "Trust") (TSX: FC.UN) announced the closing of its previously\nannounced rights offering, under which each unitholder of record on March 20,\n2008 received one right for each trust unit ("Unit") held. Ten rights entitled\na unitholder to purchase one Unit for a price of $10.10 until 4:00 pm Toronto\ntime on May 1, 2008. The rights offering resulted in the issuance of 439,982\nUnits for gross proceeds of approximately $4.4 million. As disclosed in the\nrights offering circular, certain members of management acquired Units having\na value of approximately $1 million under the offering. TD Securities Inc.\nacted as dealer manager and formed a facilitating dealer group to solicit\nsubscriptions from unitholders.\n\n\n","length":989,"tagName":"div"}]

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