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Firm Capital Property Trust Provides Update to Previously Announced Private Placement
Firm Capital Property Trust Provides Update to Previously Announced Private Placement ...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\n\n\nFirm Capital Property Trust Provides Update to Previously Announced 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, Nov. 8, 2019\n\n\n\nTORONTO, Nov. 8, 2019 /CNW/ - Firm Capital Property Trust (\"FCPT\" or the \"Trust\"), (TSXV : FCD.UN) announced today that it will be increasing the maximum size of its previously announced (see press releases dated September 25, 2019 and October 29, 2019) non-brokered private placement (the \"Private Placement\") of trust units (\"Trust Units\") at a price of $6.40 per unit from $5,000,000 to $6,000,000.  In addition, the Trust has received an extension from the TSX Venture Exchange to extend the deadline for closing the Private Placement from November 11, 2019 to November 21, 2019.  The Trust will pay a finder's fee of 4.0% of the gross proceeds to certain eligible persons and/or dealers for subscriptions to the Private Placement completed by qualified investors.\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.\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 ret...