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Firm Capital Property Trust announces closing of previously announced non-brokered private placement for gross proceeds of approximately $11 million
Firm Capital Property Trust announces closing of previously announced non-brokered private...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\nFirm Capital Property Trust announces closing of previously announced non-brokered private placement for gross proceeds of approximately $11 million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nFirm Capital Property Trust announces closing of previously announced non-brokered private placement for gross proceeds of approximately $11 million\nCanada NewsWire\nTORONTO, Sept. 22, 2015\n\n\n\nTORONTO, Sept. 22, 2015 /CNW/ - Firm Capital Property Trust (\"FCPT\" or the \"Trust\") (TSXV : FCD.UN) is pleased to announce that it is has closed a non-brokered private placement offering of units in the capital of the Trust (\"Units\") that was previously announced on August 4, 2015 (the \"Offering\"). The Trust issued 1,961,300 Units at a price of $5.60 per Unit for gross proceeds of approximately $11 million. The Trust will use the net proceeds of the Offering to repay the revolving credit facility and to fund future acquisitions. Finder's fees in the aggregate of $318,619.63 were paid in connection with the Offering. \n\nThe Units issued by the Trust are subject to customary hold periods under applicable Canadian securities laws expiring on January 23, 2016. \n\nFurther information about the Trust can be found by selecting the Firm Capital Property Trust link at www.firmcapital.com.\n\nABOUT 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 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 Properties Inc., t...