Fronsac Real Estate Investment Trust

Fronsac Real Estate Investment Trust

August 18, 2015 15:37 ET

Fronsac REIT Announces the Appointment Jason Parravano as Chief Financial Officer and a Change to the Board of Trustees

MONTREAL, QUEBEC--(Marketwired - Aug. 18, 2015) - (TSX VENTURE:GAZ.UN) Fronsac Real Estate Investment Trust ("Fronsac REIT" or "Fronsac") today announced that the Board of Trustees has appointed Jason Parravano to succeed Patrick Bazinet as Chief Financial Officer of the Trust, effective August 19, 2015. Mr. Bazinet will remain on the Board of Trustees and has joined the Trust's audit committee. The two worked together since March of 2015 to ensure a smooth transition. Mr. Parravano is a member of the Order of Chartered Professional Accountants of Quebec and brings with him experience in financial reporting and internal controls, financing structures and years of experience with an internationally renowned public accounting firm.

In addition, it is with regret that Fronsac has accepted the resignation of Richard Laferrière from the Board of Trustees. Mr. Laferrière served as a Trustee since July 2011 and with that contributed to the recent expansion that the Trust has experienced since. We would like to thank Mr. Laferrière for his years of service and his contributions to Fronsac's success.

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.

Contact Information

  • Jason Parravano
    (450) 536-5328