CALGARY, June 25 /PRNewswire-FirstCall/ - Franchise Services of North
America Inc. ("FSNA" or the "Company") announced today that it has received
official notice from the TSX Venture Stock Exchange ("TSX-V") stating that
the shares of the Company are scheduled to be reinstated for trading
effective at the opening of the market on Thursday, June 26, 2008.
"The interruption in trading is now behind us. Our Executive team's
persistent and diligent work resolved this matter as quickly as possible
with the assistance of our outside advisors," said Bob Barton, the
Company's Chief Operating Officer. "We are eager to put all of our efforts
back into growing the businesses and expanding our brand awareness in both
Canada and the United States," he added.
FSNA is a publicly-traded company 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
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 has neither approved nor disapproved the
contents of this press release.
SOURCE Franchise Services of North America Inc.