MONTREAL, QUEBEC -- (Marketwired) -- 02/24/17 -- (TSX VENTURE: GAZ.UN) Fronsac Real Estate Investment Trust ("Fronsac REIT") announces the issuance of 50,000 units of Fronsac REIT to Mr. Jason Parravano, Chief Financial Officer, as partial remuneration for services rendered. The trustees of Fronsac REIT accepted the issuance of 50,000 units of Fronsac REIT at a price of $0.59 per unit, which equates to $29,500, as partial compensation for the services rendered by Mr. Parravano during the financial year ended on December 31st 2016. The issuance of the units of Fronsac REIT constitutes a portion of Mr. Parravano's salary in the form of a discretionary performance bonus as provided in his employment contract.
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.