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Share Name | Share Symbol | Market | Type |
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Fronsac Capital Reit Units | TSXV:GAZ.UN | TSX Venture | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
Fronsac Real Estate Investment Trust ("Fronsac" or the "Trust") (TSX VENTURE:GAZ.UN) is pleased to announce that it has agreed to undertake a prospectus-exempted private placement of Units for a maximum gross proceeds of $4M by the issuance of a maximum of 12,5000,000 Units of the Trust at a subscription price of $0,32 per Unit (the "Offering"). The Offering is expected to close no later than December 21st, 2012 (the "Closing Date"). The proceeds of the Offering will be used for working capital purposes and for property acquisitions. The private placement is subject to compliance with applicable securities legislation and to the approval of the TSX Venture Exchange. No brokerage fees will be paid by the Trust in connection with the Offering. All the Units which may be issued to purchasers under the Offering will be subject to a four-month hold period from the Closing Date, pursuant to securities legislation and the policies of the TSX Venture Exchange. The Units offered in the Offering have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registration or an exemption from registration. Two insiders will participate in the Offering by subscribing 468,750 Units in consideration of a purchase price of $ 150,000. About Fronsac Fronsac Real Estate Investment Trust is an open-ended trust that acquires and owns high quality commercial real estate properties, rented to strong tenants under long term, management free and net leases. Forward-Looking Statements This press release contains forward-looking statements and information as defined by applicable securities laws, including statements relating to Fronsac and expectations of the management regarding a proposed transaction and the expected benefits thereof. There is no assurance that the proposed transaction will be carried out and that the anticipated benefits will materialize. The proposed transaction is subject to approval and consent of stakeholders and there is no certainty that these will be achieved. Fronsac warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence to the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new standards, as well as other risks and factors described from time to time in the documents filed by Fronsac with securities regulators, including the management report. Fronsac does not update or modify its forward-looking statements even if future events occur or for any other reason, unless required by law or any regulatory authority. FOR FURTHER INFORMATION PLEASE CONTACT: Michel Lassonde President and CEO Fronsac Real Estate Investment Trust (450) 536-5328
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