/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO
U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, March 18, 2020 /CNW/ - Firm Capital American
Realty Partners Trust (the "Trust"), (TSXV: FCA.U), (TSXV:
FCA.UN) is pleased to announce that the TSX Venture Exchange has
approved the listing of the 1,590,000 trust unit purchase warrants
("Warrants") that were issued in connection with the
previously announced public offering (the "Offering") of
1,590,000 units ("Units") completed by the Trust on
March 13, 2020. It is
anticipated that the Warrants will commence trading on March 20, 2020 under the symbol "FCA.WT.V".
Each Unit consisted of one trust unit (a "Trust Unit")
and one Warrant. Each Warrant is exercisable to acquire one Trust
Unit (a "Warrant Unit") for an exercise price of
US$10.75 per Warrant Unit until
March 14, 2022 (the "Warrant
Expiry Date"), subject to acceleration of the Warrant Expiry
Date in the event that the volume weighted average trading price of
the Trust Units on the principal stock exchange on which they are
traded is greater than US$12.75 per
Trust Unit for a period of 10 consecutive trading days at any time
after the closing of the Offering and upon the Trust giving 30
days' notice of acceleration, at the Trust's sole discretion. In
connection with the Offering, the underwriters thereto received a
commission of US$248,841.30 in
relation to United States dollar
gross proceeds of the Offering, and CAD$632,259.95 in relation to the Canadian dollar
gross proceeds of the Offering.
No securities regulatory authority has either approved or
disapproved of the contents of this news release. The securities
being offered have not been, and will not be, registered under the
United States Securities Act of 1933, as amended, or any state
securities laws, and may not be offered or sold in the United States unless an exemption from
registration is available. This news release is for information
purposes only and does not constitute an offer to sell or a
solicitation of an offer to buy any securities of the Trust in any
jurisdiction.
ABOUT FIRM CAPITAL AMERICAN REALTY PARTNERS TRUST
Firm Capital American Realty Partners Trust is a U.S. focused
real estate investment entity that pursues real estate and debt
investments through the following platforms:
- Income Producing Real Estate Investments: Acquiring
income producing real estate assets in major cities across
the United States. Acquisitions
are completed solely by the Trust or in joint-venture partnership
with local industry expert partners who retain property management
responsibilities; and
- Mortgage Debt Investments: Real estate debt and
equity lending platform in major cities across the United States, focused on providing all
forms of bridge mortgage loans and joint venture capital.
FORWARD LOOKING INFORMATION
Certain information in this news release constitutes
forward-looking statements under applicable securities law. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as "may", "should", "anticipate", "expect", "intend" and
similar expressions. Forward-looking statements in this press
release include statements relating to: the timing of the listing
of the Warrants. Forward-looking statements necessarily involve
known and unknown risks, including, without limitation, risks
associated with general economic conditions; adverse factors
affecting the U.S. real estate market generally or those specific
markets in which the Trust holds properties; volatility of real
estate prices; inability to access sufficient capital from internal
and external sources, and/or inability to access sufficient capital
on favourable terms; industry and government regulation; changes in
legislation, income tax and regulatory matters; the ability of the
Trust to implement its business strategies; competition; currency
and interest rate fluctuations and other risks, including those
described in the Trust's public disclosure documents on SEDAR at
www.sedar.com.
Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Additional information about the Trust is
available at www.firmcapital.com or www.sedar.com.
SOURCE Firm Capital American Realty Partners Trust