MONTREAL, QUEBEC--(Marketwired - March 15, 2017) - Fronsac Real Estate Investment Trust (TSX VENTURE:GAZ.UN) ("Fronsac REIT" or "Fronsac") today announced that the Board of Trustees have appointed Jason Parravano as President and Chief Executive Officer of the Trust effective immediately. Mr. Parravano, currently Chief Financial Officer, has been with Fronsac since the beginning 2015.
Michel Lassonde will continue to hold the position of Chairman of the Board of Trustees, providing leadership to Fronsac's growth strategy. Mr. Jacques Beaudry, a member of the Board of Trustees, will assume he role of interim Chief Financial Officer. M. Beaudry, one of the founders of Fronsac, has an extensive knowledge of the businesses in which the Trust operates, and was a member of the Order of Chartered Accountants of Quebec for numerous years.
Michel Lassonde comments regarding the changes: "We have put in place a team that will enable Fronsac to reach new heights and continue to give our shareholders outstanding returns."
About Fronsac - Fronsac Real Estate Investment Trust is an open-ended trust that acquires and owns high quality commercial real estate properties situated along highways or frequently travelled routes, rented to strong tenants under long term, management free and net leases. These properties are occupied by tenants within the following sectors; (1) Fast food chains, (2) Major oil/gas companies and (3) Convenience store chains.
Forward-Looking Statements - This press release contains forward-looking statements and information as defined by applicable securities laws. 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 the TSX Venture Exchange Inc., nor its Regulatory Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.