EDMONTON, ALBERTA / TheNewswire / November 11 2016 - This press release is being filed as required by National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the acquisition of common share purchase warrants ("Warrants") to purchase common shares ("Common Shares") of Regent Pacific Properties Inc. (the "Issuer") by Cassel Properties Ltd.  ("Cassel"), an Alberta corporation of which Mr. Eddie Yu, a director and executive officer of the Issuer, holds 100% of the voting shares.  Cassel is in the business of real estate investments.  The Issuer's head office is located at 2607 Ellwood Drive SW, Edmonton, AB, T6X 0P7.

On November 10, 2016, Cassel acquired ownership of 6,666,667 Warrants of the Issuer as partial consideration for a loan to the Issuer.  Each warrant is exercisable for one (1) Common Share of the Issuer at $0.30 per Common Share for a period of two (2) years from the date of issuance.

Prior to the Offering, Cassel had beneficial ownership and control of an aggregate of 10,000,000 Common Shares, representing approximately 24.98% of the issued and outstanding Common Shares on a non-diluted basis.  Following the Offering, Cassel will retain ownership of 10,000,000 Common Shares, representing 24.98% of the issued and outstanding Common Shares on a non-diluted basis. Assuming the Warrants are exercised in full, the total number of common shares owned and controlled by Cassel will increase to 16,666,667 Common Shares, representing 35.69% of the then issued and outstanding Common Shares.  

Cassel received the warrants as partial consideration in connection with a loan provided to the Issuer.  The loan 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 loan may, upon mutual agreement of both the Issuer and Cassel, be redeemed in whole or in part during the term without penalty or bonus.

Cassel will evaluate its investment in the Issuer and may increase or decrease its investment by future acquisitions and dispositions of Common Shares at its discretion, as circumstances warrant. A copy of the Early Warning Report will be available on www.sedar.com.

For further information, or to obtain a copy of the Early Warning Report, please contact Eddie Yu, President, Cassel Properties Ltd. at 780-424-9898.