|By Marketwired .||
|December 18, 2012 09:23 PM EST||
SAINT-JEAN-BAPTISTE, QUEBEC -- (Marketwire) -- 12/19/12 -- Fronsac Real Estate Investment Trust ("Fronsac" or the "Trust") (TSX VENTURE:GAZ.UN) is pleased to announce the conclusion today of a private placement of 11,718,750 units (the "Units") at a subscription price of $0,32 per Unit (the "Offering") for gross proceeds of $ 3,750,000. The Units were subscribed by investors pursuant to exemptions under Regulation 45-106 respecting prospectus and registration exemptions.
The proceeds of the Offering will be used for working capital purposes and for property acquisitions. No brokerage fees were paid by the Trust in connection with the Offering.
The Units are subject to a four-month plus one-day hold period from the closing date of the Offering, expiring on April 20, 2013, pursuant to applicable 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 participated in the Offering by subscribing 468,750 Units in consideration of a total purchase price of $ 150,000.
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.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President and CEO
Fronsac Real Estate Investment Trust
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