/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
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TSXV Symbols: FCA.U/FCA
TORONTO, Aug. 17, 2017 /CNW/ - Firm Capital American
Realty Partners Corp. (the "Corporation") (TSXV: FCA.U),
(TSXV : FCA) is pleased to announce that its Board of Directors
(the "Board") has approved the adoption of the Corporation's
previously announced dividend policy (the "Policy"),
pursuant to which it will pay U.S. dollar cash dividends (on both
the U.S. dollar and Canadian dollar common shares) to shareholders
of the Corporation as of each quarterly dividend record date,
targeted to be the last day of each calendar quarter. The Policy
will be implemented and become effective as of September 1, 2017. Accordingly, the Corporation's
first dividend will be pro-rated for the quarter ended September 30, 2017 and the first full quarterly
dividend will be payable for the quarter ended December 31, 2017. As a result, the Corporation
has declared and approved dividends in the amount of U.S.
$0.01875 per common share for
shareholders of record on September 30,
2017, payable on or about October 16,
2017, and U.S. $0.05625 per
common share for shareholders of record on December 31, 2017, payable on or about
January 15, 2018. On an annual basis,
the Dividend Policy equates to a dividend of US$0.2250 per common share, or a 3.0% annual
dividend yield based on the U.S. $7.50 price per the Corporation's public offering
of common shares and warrants completed on May 29, 2017.
About the Corporation
The Corporation is a U.S. focused real estate investment entity
that pursues real estate and debt investments through the following
investment platforms:
- Income Producing Real Estate Investments: Acquiring
income producing real estate assets in major cities across
the United States. Acquisitions
are completed by the Corporation primarily in joint venture
partnerships with local industry expert partners who retain
property management responsibility; 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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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 necessarily
involve known and unknown risks, including those described in the
Corporation's Annual Information Form under "Risk Factors"
(a copy of which can be obtained at www.sedar.com). Those risks
include, without limitation, the ability of the Corporation to
complete the Offering and if so, to allocate the net proceeds as
stated above; risks associated with general economic conditions;
adverse factors affecting the U.S. real estate market generally or
those specific markets in which the Corporation holds properties;
volatility of real estate prices; inability to complete the
Corporation's single family property disposition program or debt
restructuring in a timely manner; 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 Corporation to implement its
business strategies; competition; currency and interest rate
fluctuations and other risks.
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.
All forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. Except as
required by applicable law, the Corporation undertakes no
obligation to publicly update or revise any forward-looking
statement, either as a result of new information, future events or
otherwise.
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.
SOURCE Firm Capital American Realty Partners Corp.
