MONTREAL, QUEBEC--(Marketwired - April 5, 2013) - Fronsac real estate investment trust ("Fronsac REIT") (TSX VENTURE:GAZ.UN) today released its audited consolidated financial statements for the year ended December 31, 2012.
The net income of the year was $1,071,495 or $0.051 per unit [2011: loss of ($102,391) or ($0.007)]. The 2012 net income includes a gain of $999,361 related to the increase in value of investment properties.
SUMMARY OF INCOME STATEMENT INFORMATION
| Income | December 31, 2012 | December 31, 2011 | |
| Rental income | $665,870 | $512,242 | |
| Increase in value of investment properties | $999,361 | $0 | |
| Net lncome (loss) | $1,071,495 | ($102,391 | ) |
| Per unit - basic | $0.051 | ($0.007 | ) |
| Weighted average units outstanding - basic | 20,985,587 | 13,974,219 |
SUMMARY OF CASH FLOWS INFORMATION
| Cash Flows | December 31, 2012 | December 31, 2011 | ||
| Cash from operating activities | $299,893 | $51,407 | ||
| Cash from investing activities | ($2,634,554 | ) | ($361,215 | ) |
| Cash from financing activities | $2,717,456 | $1,408,560 | ||
| Increase (decrease) in cash | $382,795 | $1,098,752 | ||
| Cash - beginning of year | $1,985,720 | $886,968 | ||
| Cash - end of year | $2,368,515 | $1,985,720 |
SUMMARY OF BALANCE SHEET INFORMATION
| Financial Position | December 31, 2012 | December 31, 2011 |
| Cash | $2,368,515 | $1,985,720 |
| Investment Properties | $11,521,954 | $7,111,919 |
| Total Assets | $14,333,024 | $9,335,868 |
| Total Liabilities | $4,832,944 | $4,527,216 |
| Total Equity | $9,500,080 | $4,808,652 |
| Book value per unit | $0.45 | $0.23 |
The Trust's December 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