Nobel REIT announces filing of results for the quarter ended September 30, 2014, retains Renmark Financial Communications Inc. and gives an update of the upcoming private placement

MONTREAL, Nov. 28, 2014 /CNW Telbec/ - (TSXV: NEL.UN) The Nobel Real Estate Investment Trust (« Nobel REIT ») announces the filing of its interim consolidated financial statements and its management discussion and analysis report for the quarter ended September 30, 2014.

Highlights and selected financial information

The following table shows highlights and selected financial information for the three-month and nine-month periods ended September 30, 2014.

The interim consolidated financial statements of Nobel REIT, which were prepared in accordance with IFRS, and the management discussion and analysis report for the quarter ended on September 30, 2014 have been filed on SEDAR at www.sedar.com.

Investor relations

Nobel REIT is also pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.

"We are pleased to announce that we have selected Renmark to reinforce Nobel REIT's profile in the financial community and enhance the visibility of our project portfolio. We choose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public," noted Jean Teasdale, President and Chief Executive Officer of Nobel REIT.

In consideration of the investor relation services to be provided by Renmark Financial Communications Inc., Nobel REIT has agreed to a monthly agreement with a retainer of $7,000 starting on January 1^st, 2015.  The agreement between Nobel REIT and et Renmark Financial Communications Inc. can be cancelled any time, subject to a 30-days written notice.

Renmark Financial Communications Inc. does not have any interest, directly or indirectly, in Nobel REIT or its securities, or any right or intent to acquire such an interest.

Upcoming private placement

Nobel REIT is happy to announce that the closing of the first tranche of the private placement previously announced will take place on December 2, 2014.  This first tranche consists of 8,125,000 trust units at a purchase price of $0.80 per trust unit, for gross proceeds of $6,500,000.  A finder's fee of $130,000 will be paid to Realty Financial Advisors Inc. in connection with this tranche of the private placement.

About Nobel REIT

Nobel REIT is an unincorporated open-ended real estate investment trust governed by the laws of the Province of Québec. Nobel REIT has been created for the purpose of acquiring and owning income producing properties. The REIT will focus on acquiring commercial retail, mixed-used retail, and industrial and suburban office properties in the primary and secondary markets in the Province of Québec. Nobel REIT currently owns five properties located in Québec, comprising 186,955 square feet of gross leasable area.

Disclaimer – Safe Harbour Forward–Looking Statements

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nobel REIT to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

SOURCE Nobel Real Estate Investment Trust