TSX-V Trading Symbol: FSN
RIDGELAND, MS, Oct. 19, 2017 /CNW/ - FRANCHISE SERVICES OF
NORTH AMERICA INC. ("FSNA" or
the "Company") (FSN.V) today announced that in response to the
Company's ongoing bankruptcy in the United Sates, the TSX Venture
Exchange ("TSX-V") has moved trading in the shares of the Company
from Tier 2 to NEX effective October
6, 2017. Trading in the Company's shares remains
suspended.
NEX is a separate board of the TSX-V. It provides a
trading forum for listed issuers that have fallen below TSX-V's
continued listing standards. Further information regarding
NEX Policies can be found on the Exchange's website at
www.tmx.com.
About FSNA
FSNA is a publicly traded company listed on the NEX Board of the
TSX Venture Exchange. The Company and its subsidiaries own the
following brands: U-Save Car & Truck Rental® ("U-Save"),
U-Save Car Sales, Auto Rental Resource Center ("ARRC"),
Xpress Rent A Car, Sonoran National Insurance Group and Peakstone
Financial Services.
U-Save, together with its subsidiary ARRC, has over 650
locations throughout the United
States and is one of North
America's largest franchise car rental companies. U-Save
currently services 21 airport markets in 9 different states and 12
countries. Although primarily based in the United States, U-Save has 16 international
locations in Mexico, Greece, Central
America and the Caribbean.
With more than 150 years of combined insurance experience,
Sonoran National Insurance Group is licensed in all 50 states and
serves customers in every part of the country. Sonoran provides an
entire range of business and personal insurance solutions
customized to the needs of its clients.
Forward-Looking Information:
Certain statements made in this news release are
forward-looking in nature, including statements concerning
the ability of FSNA's subsidiaries to operate in the ordinary
course following an insolvency filing. The words "may", "could",
"should", "would", "expect", "intend", "estimate", "anticipate",
"believe", or "outlook" and similar expressions often identify
forward-looking information. By their nature, forward-looking
statements require FSNA to make assumptions and are subject to
inherent risks and uncertainties. The forward-looking statements
contained in this news release are based on certain key
expectations and assumptions made by FSNA, including with respect
to general economic, market and industry conditions. Although FSNA
believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because FSNA
can give no assurance that they will prove to be correct. These
forward-looking statements also involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of FSNA to differ materially from the
anticipated results, performance or achievements or developments
expressed or implied by such forward-looking statements. If any
such risks actually occur, they could materially and adversely
affect FSNA's business, financial condition or results of
operations. FSNA's forward-looking statements are qualified in
their entirety by these cautionary statements. In addition, the
forward-looking statements are made only as of the date of this
news release, and except as required by applicable securities law,
FSNA undertakes no obligation to publicly update these
forward-looking statements to reflect new information, subsequent
events or otherwise.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Franchise Services of North America Inc.