Franchise Services of North America Inc. Announces Financial Results for the First Quarter Ended December 31, 2012

Franchise Services of North America Inc. Announces Financial Results for the 
First Quarter Ended December 31, 2012 
CALGARY, ALBERTA -- (Marketwire) -- 03/01/13 -- FRANCHISE SERVICES OF
NORTH AMERICA INC. (TSX VENTURE:FSN) ("FSNA" or the "Company")
announced its financial results for the first quarter ended December
31, 2012. Revenue and the net loss for the quarter ended December 31,
2012 were $2,586,248 and $1,151,696 respectively, as compared to
revenue of $2,622,397 and a net loss of $340,305 for the quarter
ended December 31, 2011. Net loss includes non-recurring expenses
related to the proposed acquisition of the Advantage(R) Rent-A-Car
brand ("Advantage") of approximately US$918,000 for the quarter ended
December 31, 2012 and US$288,000 for the quarter ended December 31,
2011.  
FSNA's previously announced acquisition of the Advantage brand will
proceed by way of merger (the "Merger") between a wholly-owned
subsidiary of FSNA and Adreca Holdings Corp. ("Adreca"), a subsidiary
of Macquarie Capital. The Merger is expected to close in the second
calendar quarter of 2013. FSNA also began operating Advantage
pursuant to a Management Services Agreement ("MSA") on behalf of
Adreca on December 12, 2012. The Merger and the MSA are more fully
described in the appendix to the Company's press release dated August
28, 2012 and the Company's press release of December 12, 2012. Also,
as discussed in the Company's press release dated February 17, 2013,
Adreca completed one of the scheduled acquisitions of additional
on-airport and off-airport concessions from Hertz Global Holdings in
February 2013. 
Tom McDonnell, the Company's Chairman and Chief Executive Officer,
stated "We continue to make significant progress toward the
acquisition of the Advantage brand and the previously announced
merger. We anticipate closing the merger transaction during the
second quarter this year." 
About FSNA 
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, Practicar,
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 30 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 31 airport markets in 12 different states
and 7 countries. 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) and the PractiCar(R) trademarks for all
of Canada. The Rent-A-Wreck(R) system operates a network of 57
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. 
Caution 
Completion of the Merger is subject to a number of conditions,
including TSX Venture Exchange acceptance and approval by the
Company's shareholders. The Merger cannot close until all required
approvals are obtained. There can be no assurance that the
transaction will be completed as proposed, or at all.  
Investors are cautioned that, except as disclosed in the circular of
FSNA to be prepared in connection with the Merger, any information
released or received with respect to the Merger may not be accurate
or complete and should not be relied upon. Trading in the securities
of FSNA should be considered highly speculative. 
The TSX Venture Exchange has in no way passed upon the merits of the
transaction and has neither approved nor disapproved the contents of
this press release. 
Forward-Looking Information  
Certain statements made in this news release are forward looking in
nature, including statements made with respect to the Merger. 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
the satisfaction of conditions to the completion of the Merger.
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. There can be no assurance that the Merger will be completed
as proposed or at all. 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 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. 
Contacts:
Franchise Services of North America Inc.
Thomas P. McDonnell, III
(601) 713-4333
 
 
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