Firm Capital Mortgage Investment Trust Closes $27,500,000 Bought Deal Financing

About this update from Firm Capital Mortgage Investment Corporation

[{"type":"text","content":"\n\n\n\n Oct. 13, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION OVER U.S. NEWS WIRE SERVICES OR DISSEMINATION IN\n THE UNITED STATES/\n\n\nTSX Symbol: FC.UN\n\n\nTORONTO, Oct. 13 /CNW/ - Firm Capital Mortgage Investment Trust ("the\n Trust") (TSX: FC.UN) today announced that it has closed its previously\n announced offering of $27,500,000 aggregate principal amount of 5.75%\n convertible unsecured subordinated debentures, due October 31, 2017\n (the "Debentures").  Each Debenture is convertible into Units at the\n option of the holder at a conversion price of $15.90 per unit (or\n 62.8931 Units per $1,000 principal amount of Debentures).  The\n Debentures are listed and posted for trading on the TSX under the\n symbol FC.DB.A.  The offering was underwritten by a syndicate of\n underwriters led by TD Securities Inc. and including CIBC World Markets\n Inc., Dundee Securities Corporation, Canaccord Genuity Corp.,\n Desjardins Securities Inc., and National Bank Financial Inc.  The Trust\n has also granted to the underwriters an over-allotment option,\n exercisable in whole or in part, at any time up to 30 days after the\n closing of the offering to purchase up to an additional $4,125,000\n aggregate principal amount of Debentures.\n\n\nThe net proceeds of the offering will be used to repay debt, to fund\n future mortgage investments and for general Trust purposes.\n\n\nThe securities being offered have not been and wil...

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