First Capital Realty announces the issuance of 570,000 common shares pursuant to the exercise in full of underwriters' over-allotment option


TORONTO, Feb. 5, 2015 /CNW/ - First Capital Realty Inc. (TSX: FCR) (the "Company"), Canada's leading owner, developer and manager of well-located, high quality, urban retail-centered properties, announced today that it has issued an additional 570,000 common shares of the Company pursuant to the exercise in full of the over-allotment option granted to a syndicate of underwriters co-led by TD Securities Inc. and CIBC in connection with the Company's recent bought deal public offering of common shares which closed on February 3, 2015. Pursuant to the over-allotment option, the underwriters purchased an additional 570,000 common shares of the Company at a price of $19.80 per common share for total gross proceeds of approximately $11.3 million. The exercise in full of the over-allotment option has increased the total gross proceeds of the public offering to approximately $86.5 million.

The Company will use the net proceeds from the over-allotment option to continue to fund its upcoming development expenditures. Upon closing of the over-allotment option today, there were 221,103,827 common shares of the Company issued and outstanding.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


First Capital Realty is Canada's leading owner, developer and manager of well-located, high quality urban retail-centered properties where people live and shop for everyday life. The Company currently owns interests in 157 properties, totaling approximately 24.3 million square feet of gross leasable area.

Forward-Looking Statements

This press release contains forward-looking statements and information within the meaning of applicable securities law. Forward-looking statements can be identified by the expressions "expects", "believes", "estimates", "will", "projected" and similar expressions. The forward-looking statements are not historical facts but reflect the Company's current expectations regarding future results or events and are based on information currently available to Management. Certain material factors and assumptions were applied in providing these forward-looking statements.

Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Management can give no assurance that the actual results or developments will be consistent with these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in First Capital Realty's Management's Discussion and Analysis for the year ended December 31, 2013 and under "Risk Factors" in its current Annual Information Form. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. First Capital Realty undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by applicable securities law.

All forward-looking statements in this press release are made as of the date hereof and are qualified by these cautionary statements.

SOURCE First Capital Realty Inc.

For further information: Dori J. Segal, President & CEO, or Kay Brekken, Executive Vice President & CFO, First Capital Realty Inc., 85 Hanna Avenue, Suite 400, Toronto, Ontario, Canada M6K 3S3, Tel: (416) 504-4114, Fax: (416) 941-1655,, TSX:FCR


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