First Capital Provides Update on Unitholder Meeting

TORONTO, Feb. 2, 2023 /PRNewswire/ - First Capital REIT ("First Capital" or the "REIT") (TSX: FCR.UN) today acknowledged the decision of the Ontario Superior Court (Commercial List) (the "Court") with respect to the date of the meeting of unitholders requisitioned by Sandpiper Group and Artis Real Estate Investment Trust (TSX: AX.UN).  In accordance with the Court's ruling and expectation, the meeting will take place in late March or early April, 2023.  Formal notice of the meeting date will be provided shortly. 

Unitholders will receive detailed information about the matters to be presented at the meeting and information about how to vote in a management information circular in advance of the meeting. Unitholders should read the information carefully before deciding how to vote.

 At this time, there is no need for unitholders to take any action in respect of the meeting.

Kingsdale Advisors is acting as strategic shareholder advisor to First Capital. Gagnier Communications is acting as communications advisor to First Capital. Stikeman Elliott LLP is acting as legal counsel to the Board of Trustees. RBC Capital Markets is acting as financial advisor to First Capital.

First Capital owns, operates and develops grocery-anchored, open-air centres in neighbourhoods with the strongest demographics in Canada.

This press release contains forward-looking statements and information within the meaning of applicable securities law, including but not limited to the meeting and matters relating thereto. These forward-looking statements are not historical facts but, rather, reflect First Capital's current expectations and are subject to risks and uncertainties that could cause the outcome to differ materially from current expectations. Such risks and uncertainties include, among others, general economic conditions; tenant financial difficulties, defaults and bankruptcies; increases in operating costs, property taxes and income taxes; First Capital's ability to maintain occupancy and to lease or release space at current or anticipated rents; development, intensification and acquisition activities; residential development, sales and leasing; risks in joint ventures; environmental liability and compliance costs and uninsured losses; and risks and uncertainties related to the impact of the ongoing pandemic, epidemics or other outbreaks on First Capital which are described in First Capital's MD&A for the year ended December 31, 2021 under the heading "Risks and Uncertainties - Ongoing Pandemic, Epidemics or New Outbreaks". Additionally, forward-looking statements are subject to those risks and uncertainties discussed in First Capital's MD&A for the year ended December 31, 2021 and in its current Annual Information Form. Readers, therefore, should not place undue reliance on any such forward-looking statements. First Capital undertakes no obligation to publicly update any such forward-looking 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. For further information:

SOURCE First Capital REIT