FMS Capital Trust, together with its sponsors Forum Asset Management Inc. ("Forum") and Make Space Inc. ("Make Space"), announced that it has completed its capital raise, raising an aggregate of approximately C$54.2 million in total gross proceeds.

The capital raise consisted of (i) an initial public offering of trust units, pursuant to which, the Trust issued an aggregate of approximately $51.5 million of trust units, comprised of 2,064,950 Class A Units and 2,822,000 Class F Units of the Trust at a price of C$10.00 per Class A Unit and Class F Unit, (ii) a non-brokered private placement of 261,500 Class C Units at a price of C$10.00 per Class C Unit raising total gross proceeds of approximately C$2.6 million, and (iii) a contribution by an affiliate of Forum and Make Space of approximately C$2.7 million to a subsidiary of the Trust.

The trust units in the initial public offering were offered to the public through a syndicate of agents led by CIBC World Markets Inc. and which included Canaccord Genuity Corp., Desjardins Securities Inc., Richardson Wealth Limited, Wellington-Altus Private Wealth Inc., iA Private Wealth Inc., National Bank Financial Inc. and Raymond James Ltd.