The investment is a 12%, three-year term bond. This instrument is available for a minimum of $10,000, with increments of only $100 thereafter. This bond is available for both RRSP accounts and for non-RRSP purchases. The investor can choose to have the interest compound or to receive the income on a quarterly distribution schedule.
The issuer of the bond is FRPL Finance, a division of Fairmont Resort Properties Ltd., a large, extremely experienced, and very well-known developer of recreational/resort properties. Global has enjoyed a close working relationship with FRPL, and has been participating in previous investment activities. We are very comfortable with their abilities with respect to both financing and real estate development, and we believe that they are exceptionally positioned to capitalize on continuing demographic trends and the leisure pursuits of an aging population.
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