NewNorth Announces Disposition of Fort McMurray Assets
July 18 2019 - 12:36PM
PR Newswire (Canada)
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.
Copyright 2019 Canada NewsWire
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