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Firm Capital Property Trust Announces $15 Million Private Placement
Firm Capital Property Trust Announces $15 Million Private Placement Canada NewsWir...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\nFirm Capital Property Trust Announces $15 Million Private Placement\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\n\nCanada NewsWire\nTORONTO, Feb. 25, 2019\n\n\n\nTORONTO, Feb. 25, 2019 /CNW/ - Firm Capital Property Trust (\"FCPT\" or the \"Trust\"), (TSXV : FCD.UN) is pleased to announce that it is proceeding with a Non-Brokered Private Placement (the \"Private Placement\") in which it will raise up to $15,000,000 and issue approximately 2,343,750 Trust Units of the Trust at a price of $6.40 per Trust Unit. The Trust will pay a finder's fee of 5.0% of the gross proceeds to certain eligible persons and/or dealers for subscriptions to the Private Placement completed by qualified investors. Closing of the Private Placement will occur in tranches on or about March 31, 2019.\nNet proceeds of the Private Placement will be used by the Trust to fund prospective acquisitions, to repay amounts drawn on the Trust's credit facility, for working capital and for general corporate purposes.\nDISTRIBUTION REINVESTMENT PLAN & UNIT PURCHASE PLANThe Trust has in place a Distribution Reinvestment Plan (\"DRIP\") and Unit Purchase Plan (the \"Plan\"). Under the terms of the DRIP, FCPT's Unitholders may elect to automatically reinvest all or a portion of their regular monthly distributions in additional Units, without incurring brokerage fees or commissions. Under the terms of the Plan, FCPT's Unitholders may purchase a minimum of $1,000 of Units per month and maximum purchases of up to $12,000 per annum. Management and trustees have not participated in the DRIP or Plan to date and own approximately 7% of the issued and outstanding trust units of the Trust.\nABOUT FIRM CAPITAL PROPERTY TRUSTFirm 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 prof...