Firm Capital Property Trust Announces Grant of Options

Firm Capital Property Trust
·3 min read

TORONTO, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Firm Capital Property Trust (“FCPT” or the “Trust”) (TSXV : FCD.UN) announces the grant of options to acquire trust units in the capital of the Trust (each a “Unit”) to the trustees and officers of the Trust on December 1, 2020. Each of the options will expire five years from the date of grant. Trustees and officers of the Trust were issued options to purchase that number of Units as set forth opposite their name as follows:

Trustee/Officer

Number of
Options

Exercise Price

Eli Dadouch

80,000

$6.75

Robert McKee

40,000

$6.75

Sandy Poklar

40,000

$6.75

Jonathan Mair

20,000

$6.75

Joseph Fried

20,000

$6.75

Stanley Goldfarb

20,000

$6.75

Geoffrey Bledin

20,000

$6.75

Lawrence Shulman

20,000

$6.75

Howard Smuschkowitz

20,000

$6.75

Jeff Goldfarb

20,000

$6.75

Manfred Walt

20,000

$6.75

Victoria Granovski

20,000

$6.75

Julio Perrotta

10,000

$6.75

Total

350,000

ABOUT 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 own as well as 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 Realty Partners Inc., through a structure focused on an alignment of interests with the Trust sources, syndicates and property and asset manages investments on behalf of the Trust.

FORWARD LOOKING INFORMATION

This press release may contain forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", and by discussions of strategies that involve risks and uncertainties. The forward-looking statements are based on certain key expectations and assumptions made by the Trust. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Although management of the Trust believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that future results, levels of activity, performance or achievements (including the current and future impact of COVID-19) will occur as anticipated. Neither the Trust nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements, and no one has any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or such other factors which affect this information, except as required by law.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, which may be made only by means of a prospectus, nor shall there be any sale of the Units in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state, province or other jurisdiction. The Units of the Firm Capital Property Trust have not been, and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States absent registration or an application for exemption from the registration requirements of U.S. securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Robert McKee

Sandy Poklar

President & Chief Executive Officer

Chief Financial Officer

(416) 635-0221

(416) 635-0221