Edmonton, Alberta / TheNewswire / May 1, 2017 – Regent Pacific Properties Inc. (TSX-V:RPP) (“Regent” or the “Corporation”)  is pleased to announce its financial results for the year ended December 31, 2016.  Regent is a real estate investment company seeking to acquire a portfolio of high-quality income-producing properties.  Regent’s current portfolio consists of Cassel Centre, a fully-leased, premiere, 72,675 sq. ft. commercial property (the “Property”) comprised of a three-storey office tower and single-storey commercial bays, located at 2607 – 2627 Ellwood Drive SW in Edmonton, Alberta.

 

Year End Selected Financial Results

 

-Increase in cash of $181,420, growing to a cash position of $256,611 at end of year, a 241% increase over the prior year end cash position

-Income before interest income and finance costs of $1,637,948, an increase of $1,177,987 or 256% over the prior year

-Net income of $656,261, an increase of $1,296,012 over the prior year

-Achieved $0.02 earnings per share.

 

A complete copy of the financial statements and Management’s Discussion and Analysis for the year ended December 31st, 2016 are available on SEDAR.

 

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.

 

Further information about Regent Pacific Properties is available on the Corporation’s website at www.regentpacific.ca and the SEDAR website at www.sedar.com.

 

For further information, contact:

      

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

 

Forward-Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation

concerning the business of Regent. Forward-looking information is based on certain key expectations and assumptions made by the management of Regent. Although Regent believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Regent can give no assurance that they will prove to be correct.  Forward-looking statements contained in this press release are made as of the date of this press release. Regent disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.