/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
MONTREAL, Feb. 13, 2020 /CNW Telbec/ - (TSXV:
FRO.UN) Fronsac Real Estate Investment Trust (the
"REIT" or "Fronsac") is pleased to announce that it
has closed its previously-announced public offering
(the "Offering") of trust units of Fronsac (the
"Units"). Under the Offering, an aggregate of
29 million Units were issued, representing the maximum number
of Units qualified under Fronsac's short form prospectus, at a
price of $0.62 per Unit for aggregate
gross proceeds of approximately $18 million. The Offering was
made through a syndicate of agents co-led by Paradigm Capital Inc.
and Canaccord Genuity Corp., acting as joint bookrunners, and
including Laurentian Bank Securities Inc., Echelon Wealth Partners
Inc. and Desjardins Securities Inc.
The REIT intends to use the net proceeds of the Offering as
described in the REIT's final short form prospectus dated
February 7, 2020, including to
partially fund the acquisition of three commercial properties in
Québec and Ontario and repay a
portion of the outstanding indebtedness under certain of the REIT's
credit facilities.
About Fronsac – Fronsac Real Estate Investment Trust
is an open-ended trust that acquires and owns high quality triple
net and management-free commercial real estate properties.
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. Such risks, uncertainties and other factors
include the risk that Fronsac may apply the net proceeds of the
Offering differently than as stated herein depending on future
circumstances, the risks related to economic conditions, the
risks associated with the local real estate market and real estate
activities generally, the risks related to the dependence on the
financial condition of tenants, the changes in interest rates, the
availability of financing in the form of debt or equity and the
effects related to the adoption of new accounting standards, as
well as other risks, uncertainties and factors described in the
final short form prospectus of Fronsac dated February 7, 2020 and described from time to time
in the documents filed by Fronsac with the securities commissions
and similar regulatory authorities, including Fronsac's annual
information form and management's discussions and analysis. Fronsac
does not intend or undertake to 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 TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Fronsac Real Estate Investment Trust