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 Transaction closes.
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.
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