TORONTO, Jan. 18, 2012 /CNW/ - NorRock Realty Finance Corporation ("NorRock" or the "Corporation") announced today that the Ontario Superior Court of Justice has issued
a final order approving the statutory plan of arrangement providing for
the acquisition (the "Transaction") of substantially all of the assets of NorRock by Partners Real Estate
Investment Trust ("Partners REIT") (TSXV: PAR:UN).
As previously disclosed, the Transaction was approved by NorRock
shareholders on January 13, 2012. Assuming all other conditions
precedent to closing the arrangement are satisfied or waived at the
time, the arrangement is currently expected to close on or about
February 1, 2012.
Information concerning the Transaction is set out in a joint management
information circular (the "Circular") dated November 16, 2011 that was mailed to all shareholders of
NorRock. A copy of the Circular is available electronically at www.sedar.com.
Shareholders who hold NorRock shares through a broker, trustee,
financial institution or other intermediary should contact their
intermediary if they have any questions regarding the process by which
the consideration payable to them will be distributed if the
NorRock Realty Finance Corporation
The Corporation is a mutual fund corporation incorporated under the laws
of the Province of Ontario. The Corporation was created to obtain
exposure to the investment performance of an actively managed portfolio
of secured loans and investments in the Canadian commercial real estate
sector on a tax-efficient basis.
Certain statements included in this news release constitute
forward-looking statements including statements identified by the words
"plan", "will" and "intend", and similar expressions or the negative
thereof. The forward-looking statements are not historical facts but
reflect the Corporation's current expectations regarding future results
or events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events to
differ materially from current expectations. Readers are cautioned not
to place undue reliance on forward-looking information. The Corporation
undertakes no obligation to update publicly or otherwise revise any
forward-looking statement or information except as required by law.
SOURCE NorRock Realty Finance Corporation
For further information:
Jacqueline Boddaert, Chief Executive Officer
Tel: (416) 479-9510 x305