TSX-V Trading Symbol: FSN
CALGARY, June 18 /CNW/ - Franchise Services of North America Inc. ("FSNA"
or the "Company") announced today that it has received notification from the
Alberta Securities Commission (the "ASC") that they have completed their
continuous disclosure review of the Company's public filings and that the
ASC's file in respect of that review is now closed.
Bob Barton, the Company's Chief Operating Officer, stated, "We are
pleased to report that we have satisfied all comments received to date from
the ASC in connection with their continuous disclosure review of the Company's
public filings and that they have advised us the file is now closed. All
required financial reports have now been filed and the Company has filed the
application to have the cease trade order rescinded."
FSNA is a publicly traded company listed on the TSX Venture Exchange. The
Company and its subsidiaries own the following brands: U-Save Car & Truck
Rental, U-Save Car Sales, Rent-A-Wreck of Canada, Auto Rental Resource Center
("ARRC"), Xpress Rent A Car and Peakstone Financial Services.
U-Save, together with its subsidiary ARRC, has over 1,100 locations
throughout the United States and is one of North America's largest franchise
car rental companies. Having primarily serviced the local market for the past
25 years, the Company is expanding into the airport market with plans for the
opening of airport locations in the top 30 markets in the United States and
the major airports in Canada. U-Save currently services 27 airport markets in
14 different states. U-Save Car Sales is an expansion of the U-Save brand into
the car sales market, and provides goods and services to car sales operators
looking to affiliate with a national brand.
Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the
rights to the Rent-A-Wreck(R) trademark for all of Canada. The Rent-A-Wreck(R)
system operates a network of 53 franchises from coast-to-coast in Canada,
providing a range of vehicle rental, leasing and sales options to its
customers. The Rent-A-Wreck(R) system has been in continuous operation in
Canada since 1976.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: on FSNA or any of its operating subsidiaries
please contact: Alison Tullis, CHF Investor Relations, (416) 868-1079 x 233,
Alison@chfir.com; Robert M. Barton, Chief Operating Officer, FSNA, (601)
713-4333 x 116, firstname.lastname@example.org