NorRock Realty Finance Corporation

NorRock Realty Finance Corporation

February 10, 2012 15:49 ET

NorRock Realty Finance Corporation Update for Holders of Class A Shares

TORONTO, ONTARIO--(Marketwire - Feb. 10, 2012) - NorRock Realty Finance Corporation (TSX:RF.A) ("NorRock" or the "Corporation") advises that holders of NorRock Class A shares will receive units of Partners Real Estate Investment Trust ("Partners REIT") (TSX VENTURE:PAR.UN) on a post-consolidated basis.

NorRock announced on February 1, 2012 the closing of the previously announced acquisition of substantially all of the assets of NorRock by Partners REIT through a plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, holders of NorRock Class A shares of record as at the close of business on February 8, 2012 were entitled to receive consideration in the form of units of Partners REIT.

NorRock has been advised by Partners REIT that the timing of the previously announced consolidation of the units of Partners REIT on the basis of one (1) post-consolidation unit for every four (4) pre-consolidation units is such that post-consolidation units of Partners REIT will begin trading on the TSX Venture Exchange on February 14, 2012. As a result of the timing of such consolidation, holders of NorRock Class A shares will receive units of Partners REIT on a post-consolidated basis.

As previously announced, on or about February 14, 2012, Computershare Investor Services Inc., the depositary for the Arrangement, will mail certificates to the registered holders of NorRock Class A shares.

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.

Contact Information

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