MONTREAL, QUEBEC--(Marketwire - May 25, 2012) - Fronsac real estate investment trust ("Fronsac REIT") (TSX VENTURE:GAZ.UN) today released its unaudited consolidated financial statements for the first quarter ended March 31, 2012.
The net income of the first quarter was $94,514 or $0.005 per unit [2011: net income of $11,272 or $0.001 per share]. For the quarter of March 2011, the operations were conducted under the name of Fronsac Capital Inc..
SUMMARY OF INCOME STATEMENT INFORMATION
| Income | March 31, 2012 | March 31, 2011 |
| Revenue | $145,878 | $122,725 |
| Net lncome | $94,514 | $11,272 |
| Per unit - basic and diluted | $0.005 | $0.001 |
| Weighted average units outstanding - basic and diluted | 20,514,000 | 13,790,000 |
SUMMARY OF CASH FLOWS INFORMATION
| Cash Flows | March 31, 2012 | March 31, 2011 | ||
| Cash from operating activities | $75,700 | $2,533 | ||
| Cash from investing activities | $0 | ($8,392 | ) | |
| Cash from financing activities | $(1,756,779 | ) | $(47,794 | ) |
| Increase (decrease) in cash | $(1,681,079 | ) | $(53,653 | ) |
| Cash - beginning of period | $1,985,720 | $886,968 | ||
| Cash - end of period | $304,641 | $833,315 |
SUMMARY OF FINANCIAL POSITION INFORMATION
| Financial Position | March 31, 2012 | December 31, 2011 |
| Cash | $304,641 | $1,985,720 |
| Investment Properties | $7,111,919 | $7,111,919 |
| Total Assets | $7,611,343 | $9,335,868 |
| Total Liabilities | $2,708,177 | $4,527,216 |
| Total Equity | $4,903,166 | $4,808,652 |
| Book value per unit | $0.24 | $0.23 |
The Trust's March 31, 2012 financial statements may be viewed on SEDAR at www.sedar.com
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:
President
(450) 536-5328