2014 Review and Outlook
The Corporation reports the following operational and financial highlights.
As a result of the asset sale to Partners REIT, NorRock substantially discontinued its business and subsequently, did not meet the original listing requirement of the
It is important to note that the financial statements have been prepared on a going concern basis. The going concern basis of presentation assumes that the Corporation will continue operations for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operation.
NorRock's board of directors and management continues 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.
Cash on Hand
Distributions to Shareholder
There were no Distributions in 2014.
Net Asset Value
The net book value per Class A share as at
For detailed information on financial results please refer to the Corporation's financial statements and management report of fund performance for the period ending
The Corporation is a mutual fund corporation under the Income Tax Act (
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.
FOR FURTHER INFORMATION PLEASE CONTACT: NorRock Realty Finance Corporation
Jacqueline BoddaertChief Executive Officer (416) 479-9510 1-866-362-2469 (FAX) email@example.com Source: NorRock Realty Finance Corporation