(All amounts are in US Dollars unless otherwise
stated.)
TORONTO, Dec. 19, 2019 /CNW/ - Firm Capital American
Realty Partners Corp. (the "Company"), (TSXV: FCA.U), (TSXV:
FCA) today announced that it has obtained a final order from the
Ontario Superior Court of Justice (Commercial List) approving its
previously announced statutory plan of arrangement (the
"Arrangement") under the Business Corporations Act
(Ontario) pursuant to which the
Company will convert from a corporation into an investment trust
named Firm Capital American Realty Partners Trust. Details
regarding the Arrangement are set forth in the Company's press
releases dated November 4, 2019 and
November 21, 2019 as well as the
management information circular prepared in connection with the
shareholders meeting held on December 12,
2019 which circular is available under the Company's profile
on www.sedar.com
Subject to obtaining all remaining required approvals and
satisfying all required conditions, the Arrangement is expected to
become effective on January 1,
2020. It is anticipated that the common shares, debentures
and warrants of the Company will cease trading on the TSX Venture
Exchange shortly thereafter and that the units, debentures and
warrants of Firm Capital American Realty Partners Trust will then
commence trading under the symbols FCA.UN FCA.U for U.S. dollars),
FCA.DB and FCA.WN, respectively.
ABOUT FIRM CAPITAL AMERICAN REALTY PARTNERS CORP.
Firm
Capital American Realty Partners Corp. 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 Company 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 Arrangement and its
terms. Since the completion of the Arrangement remains subject to a
number of approvals, there is no guarantee that the Arrangement
will be completed. 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 Company 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
Company to implement its business strategies; competition; currency
and interest rate fluctuations and other risks, including those
described in the Company'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 Company is available at
www.firmcapital.com or www.sedar.com.
SOURCE Firm Capital American Realty Partners Corp.