CALGARY, July 18, 2019 /CNW/ - NewNorth Projects Ltd. ("NewNorth") (TSXV:NNP) announces it has disposed of its 50% interest in Riviera Suites Hotel Limited Partnership (the "Partnership"), including NewNorth's associated 50% interest in the general partner for aggregate gross proceeds of $260,000, subject to certain adjustments. The disposition was made to NewNorth's arm's length partner in the Partnership.
Following completion of the Transaction, NewNorth's assets consist of a 408 acre development in the Town of Okotoks called "Sandstone Springs".
NewNorth is an integrated land and building development corporation operating in Alberta.
Neither the 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.
SOURCE NewNorth Projects Ltd.
For further information: Mr. Greg N. Herndier, Chief Executive Officer or Mrs. Shannon Cook, Controller at (403)531-0280.