CALGARY, Jan. 9, 2013 /CNW/ - NewNorth Projects Ltd. ("NewNorth") (TSXV:
NNP) is pleased to announce that it has entered into a purchase and
sale agreement with an arm's length party for the sale of its 185 acre
wholly-owned country residential development property near Cochrane,
Alberta for gross proceeds of $2 million. Closing of the transaction is
expected to occur on or about March 1, 2013.
NewNorth is a land development Corporation operating in the province of
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, certain
information presented herein constitutes "forward-looking statements".
More particularly, this press release contains statements concerning
the sale of the Cochrane asset and the timing of closing. The
forward-looking statements contained in this document are solely
opinions and forecasts which are uncertain and subject to risks.
Forward-looking statements include but are not limited to uncertainties
and other factors which may cause the actual results, performance or
achievements of the Corporation to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. These forward-looking statements are
not guarantees of future performance and are subject to a number of
known and unknown risks and uncertainties. Accordingly, readers are
cautioned that the assumption used in the preparation of the
forward-looking statements, although considered reasonable at the time
of preparation may prove to be imprecise and, as such undue reliance
should not be placed on forward-looking statements.
The forward-looking statements contained in this press release are made
as of the date of this press release. Except as required by law, the
Corporation disclaims any intention and assumes no obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable securities law. Additionally, the Corporation undertakes no
obligation to comment on the expectations of, or statements made, by
third parties in respect of the matters discussed above.
Neither the TSXV nor its Regulation Services Provider (as that term is
defined in the policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE: NewNorth Projects Ltd.
For further information:
For additional information, please contact Mr. Greg N. Herndier, Chief Executive Officer or Mrs. Shannon Cook, Controller at (403)531-0280.