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TORONTO, Sept. 07, 2017 (GLOBE NEWSWIRE) -- Firm Capital American Realty Partners Corp. (the “Corporation”) (TSXV:FCA.U) (TSXV:FCA) is pleased to announce that it has filed a preliminary base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada, excluding Québec. The preliminary base shelf prospectus has not yet become final for the purpose of the sale of securities. The intention of the base shelf prospectus is to allow the Corporation to more quickly access capital when market opportunities permit.
Once receipts for the final base shelf prospectus are obtained from the applicable securities regulators, the (final) base shelf prospectus will be valid for a 25-month period, during which time the Corporation may offer and issue, from time to time, common shares, preferred shares, debt securities, subscription receipts, warrants and units, or any combination thereof, having an aggregate offering price of up to USD$250,000,000. Any issue of securities under the base shelf prospectus will require the filing of a prospectus supplement that will include the specific terms of the securities being offered.
No securities may be sold nor may offers to buy be accepted prior to the time at which receipts for the (final) base shelf prospectus are obtained from the applicable securities regulators.
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” and in the preliminary base shelf prospectus referenced above (which can be obtained at www.sedar.com). Those risks include, without limitation, the number and type of securities that may be sold under the base shelf prospectus; 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, whether 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.