NorRock Realty Finance Corporation

NorRock Realty Finance Corporation

February 29, 2012 11:22 ET

NorRock Realty Finance Corporation Class A Shares to List on NEX

TORONTO, ONTARIO--(Marketwire - Feb. 29, 2012) - NorRock Realty Finance Corporation (TSX:RF.A) ("NorRock" or the "Corporation") announced today that NorRock's application to list its Class A shares for trading on NEX has been approved by NEX. Consequently, the NorRock Class A shares will be voluntarily delisted from TSX at the close of business on March 2, 2012 and will be listed for trading on NEX at the opening of the markets on March 5, 2012 with the trading symbol RF.H.

NEX is a separate board of the TSX Venture Exchange ("TSX-V") that provides a trading forum for listed companies that have low levels of business activity or have ceased to carry on an active business. Only companies that were formerly listed on TSX or TSX-V are eligible to list on NEX. NEX companies are subject to the same disclosure standards as all Canadian public companies and trading on NEX takes place on the same fully electronic system used by TSX-V and is governed by the same trading rules.

As previously disclosed, in connection with the sale of substantially all of the assets of NorRock pursuant to a plan of arrangement, the NorRock Class A shares were halt traded on February 6, 2012. Trading in the NorRock Class A shares will continue to be halted until such time as the NorRock Class A shares are delisted from TSX on March 2, 2012.

With NorRock's Class A shares being listed for trading on NEX beginning on March 5, 2012, NorRock's board of directors and management will continue to explore options which they believe will be in the best interests of NorRock and its shareholders. Any proposed transaction will be subject to receipt of all necessary regulatory approvals. The business of NorRock may remain in the commercial real estate lending industry or be in a different industry.

NorRock Realty Finance Corporation

The Corporation is a mutual fund corporation incorporated under the laws of the Province of Ontario. The Corporation was initially 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.

Contact Information

  • NorRock Realty Finance Corporation
    Jacqueline Boddaert
    Chief Executive Officer
    (416) 479-9510 x305
    1-866-362-2469 (FAX)