NewNorth Projects Ltd. announces sale of Cochrane asset
CALGARY,
Jan. 9, 2013 /CNW/ - NewNorth
Projects Ltd. ("NewNorth") (TSXV: NNP) is pleased to announce that
it has entered into a purchase and sale agreement with an arm's
length party for the sale of its 185 acre wholly-owned country
residential development property near Cochrane, Alberta for gross proceeds of
$2 million. Closing of the
transaction is expected to occur on or about March 1, 2013.
NewNorth is a land development Corporation
operating in the province of Alberta.
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact
contained herein, certain information presented herein constitutes
"forward-looking statements". More particularly, this press release
contains statements concerning the sale of the Cochrane asset and the timing of closing. The
forward-looking statements contained in this document are solely
opinions and forecasts which are uncertain and subject to risks.
Forward-looking statements include but are not limited to
uncertainties and other factors which may cause the actual results,
performance or achievements of the Corporation to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. These
forward-looking statements are not guarantees of future performance
and are subject to a number of known and unknown risks and
uncertainties. Accordingly, readers are cautioned that the
assumption used in the preparation of the forward-looking
statements, although considered reasonable at the time of
preparation may prove to be imprecise and, as such undue reliance
should not be placed on forward-looking statements.
The forward-looking statements contained in this
press release are made as of the date of this press release. Except
as required by law, the Corporation disclaims any intention and
assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable securities law.
Additionally, the Corporation undertakes no obligation to comment
on the expectations of, or statements made, by third parties in
respect of the matters discussed above.
Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE NewNorth Projects Ltd.