Fronsac Real Estate Investment Trust

TSX VENTURE : GAZ.UN


November 15, 2012 11:40 ET

Fronsac Real Estate Investment Trust Releases Interim Financial Statements and Declares a Distribution to Unitholders

MONTREAL, QUEBEC--(Marketwire - Nov. 15, 2012) - Fronsac real estate investment trust ("Fronsac REIT") (TSX VENTURE:GAZ.UN) today released its unaudited consolidated financial statements for its third quarter ended September 30, 2012.

The net income of the quarter ended September 30, 2012 was $47,848 or $0.002 per unit [2011: net loss of ($80,710) or ($0.006) per unit].

SUMMARY OF INCOME STATEMENT INFORMATION

Income September 30, September 30,
2012 2011
Revenue $183,269 $121,814
Net lncome (loss) $47,848 ($80,710 )
Per unit - basic and diluted $0.002 ($0.006 )
Weighted average units outstanding - basic and diluted 20,514,000 13,790,000

SUMMARY OF CASH FLOWS INFORMATION

Cash Flows September 30, September 30,
2012 2011
Cash from operating activities $88,735 $60,312
Cash from investing activities ($35,207 ) ($333,377 )
Cash from financing activities $30,505 ($47,794 )
Increase (decrease) in cash $84,033 ($320,859 )
Cash - beginning of period ($19,997 ) $776,073
Cash - end of period $64,036 $455,214

SUMMARY OF FINANCIAL POSITION INFORMATION

Financial Position September 30, December 31,
2012 2011
Cash $64,036 $1,985,720
Investment Properties $9,119,054 $7,111,919
Total Assets $9,633,082 $9,335,868
Total Liabilities $4,770,364 $4,527,216
Total Equity $4,862,718 $4,808,652
Book value per unit $0.24 $0.23

The Trust's September 30, 2012 financial statements of Fronsac REIT may be viewed on SEDAR at www.sedar.com

On November 14, 2012, the Board of Fronsac REIT has declared a distribution of $0.00625 to unitholders of record on November 30, 2012 that will be paid on December 31, 2012.

Neither the TSX Venture Exchange Inc., nor its Regulatory Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accept any responsibility for the adequacy or accuracy of this release.

Contact Information

  • Michel Lassonde
    President
    (450) 536-5328