Edmonton, Alberta / TheNewswire / November 10, 2016 - Regent Pacific Properties Inc. (TSX-V:RPP) (the “Corporation”)  wishes to announce, that it has received regulatory approval with respect to a $2,000,000 loan (the "Loan") from Cassel Properties Ltd. ("Cassel") as announced on October 20, 2016.

In consideration of the Loan, the Corporation will issue an unsecured debenture ("Debenture") in the principal amount of $2,000,000 and 6,666,667 share purchase warrants to Cassel.  The Debenture bears interest at a rate of six and one-half percent (6 ½%) per annum and matures in two (2) years from the date of issue.  The principal amount and earned interest of the Debenture may, upon mutual agreement of both the Corporation and the debenture holder, be redeemed in whole or in part during the term without penalty or bonus.  Each of the share purchase warrants is exercisable into one (1) common share of the Corporation at $0.30 per common share for a period of two (2) years from the date of issuance. The common share purchase warrants are subject to a four month resale restriction.

 

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

 

For further information, contact:

      

Eddie W.W. Yu, President and Chief Executive Officer Telephone: (780) 424-9898 Facsimile: (780) 437-9899 Email: info@cassel.ca