REALnorth Opportunities Fund announces filing of final prospectus for its initial public offering and provides an update on key developments in British Columbia's north

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VANCOUVER, Dec. 22, 2014 /CNW/ - REALnorth Opportunities Fund ("REALnorth") announced today that it has filed its final prospectus (the "Prospectus") for the initial public offering (the "Offering") of trust units ("Units") with the securities commissions of all provinces in Canada other than Quebec.

Due to the proximity of the year-end, the Offering will have multiple closings, the first of which will be on December 30, 2014, with an additional closing expected in early 2015.  REALnorth's Prospectus now accommodates multiple closings and the minimum Offering has been adjusted from 18,000 Units ($18 million) to 10,000 Units ($10 million). The maximum Offering of 30,000 Units ($30 million) remains the same.

The Offering is on a best efforts basis by a syndicate of agents co-led by Dundee Securities Ltd. and Scotia Capital Inc. and including BMO Nesbitt Burns Inc., Canaccord Genuity Corp., GMP Securities L.P., National Bank Financial Inc., Burgeonvest Bick Securities Ltd., Raymond James Ltd. and Integral Wealth Securities Limited.

There have recently been two key developments in British Columbia's north:

1.	Approval of Site C Clean Energy Project
	On December 16, 2014, the Province of British Columbia announced that it has approved the Site C Clean Energy Project (the "Site C Project"), designed to provide British Columbia with affordable, reliable clean power for over 100 years. The Province confirmed that British Columbia's population and economy are growing, and the demand for power is expected to increase by 40% over the next 20 years.
	The Site C Project is to be built at an estimated cost of over $8 billion by the British Columbia Hydro and Power Authority and represents a large-scale earth fill hydroelectric dam on the Peace River. It will be situated in northeastern British Columbia, approximately seven kilometres from the city of Fort St. John.
2.	Woodside Petroleum Ltd. to purchase Apache Corporation's LNG Interests
	On December 15, 2014, Woodside Petroleum Ltd. ("Woodside") of Australia announced that it has entered into a binding transaction with Apache Corporation ("Apache") to purchase various oil and gas interests from Apache in Canada and Australia, including its 50% interest in the Kitimat LNG project and natural gas interests in the Horn River and Liard Basins located in northeastern British Columbia.
	The Kitimat LNG project is a joint venture with Chevron Canada Limited which proposes to transport natural gas from northeastern British Columbia by pipeline to a liquefied natural gas (LNG) facility to be built close to the District of Kitimat in northwestern British Columbia for the purposes of exporting LNG to customers in Asia. This project has already received all major provincial and federal approvals and is expected to create approximately 4,500 construction jobs.

 

Stephen Evans, Chair of REALnorth, stated, "We have received a very strong amount of interest in the Offering from investors who understand the diverse opportunities in Western Canada's north, particularly in British Columbia. The announcement by the Province of British Columbia that it will proceed with the construction of the Site C Project and the purchase by Woodside of Apache's LNG and other British Columbia assets are a further testament to our view that there exist strong opportunities to invest in real estate in the region."

Completion of REALnorth's initial public offering is subject to, and conditional upon, the receipt of all necessary approvals, including regulatory approvals.

These securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States of America without registration or an applicable exemption from the registration requirements of that Act. This news release does not constitute an offer for sale of these securities in the United States of America.

About REALnorth Opportunities Fund

REALnorth exclusively focuses on Western Canada's north, a region bolstered by rich resources and large projects, to invest on an opportunistic basis in revenue producing real estate assets and development properties which management believes provide attractive return potential. These properties may include industrial and commercial as well as multi-family and other residential real estate opportunities.  

Additional information relating to REALnorth, including the Prospectus and other public filings, is available on SEDAR at www.sedar.com.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects REALnorth's current expectations regarding future events. Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would" and similar terms and phrases. In particular, forward-looking statements in this news release include, but are not limited to, statements regarding: the intention to have multiple closings of the Offering and the timing of each such closing. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond REALnorth's control, that could cause actual results and events to differ materially from those that are disclosed in, or implied by, such forward-looking information. Such risks and uncertainties include, but are not limited to, failure to complete the initial public offering of Units and related transactions, and the factors discussed under "Risk Factors" in the Prospectus. The forward-looking information contained herein is made as of the date of this news release and, except as expressly required by applicable law, REALnorth assumes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

SOURCE: REALnorth Opportunities Fund

Stephen J. Evans (Chair), REALnorth Opportunities Fund, Suite 910 - 925 West Georgia Street, Vancouver, BC V6C 3L2, Tel: [phone]