Jannock Properties Limited Reports Closure of Jancor Companies, Inc.

Jannock Properties Limited (TSX VENTURE:JPL.UN) today reported that Jancor
Companies, Inc. (Jancor) had ceased operations effective Saturday October 25th,
2008. Jannock Properties sold all of its equity interest in Jancor in 2001 in
return for participation rights relating to payments received by Jancor's
subordinated lender and to proceeds received by shareholders from a sale of
Jancor.


Jannock Properties had previously disclosed that it was unlikely that it would
receive any recoveries from its participation rights in the foreseeable future.
The closure of the Jancor operations means that there is very little likelihood
of ever receiving any more proceeds under the participation agreements.


As previously advised Jannock Properties is investigating methods for maximizing
shareholder values.


The mandate for the Company is to dispose of its assets in a manner that
maximizes value and distributes the net proceeds realized from those assets to
shareholders in a timely fashion.


The Company's common shares are listed on the Canadian Venture Exchange (trading
symbol: JPL.UN). Currently each Unit consists of one Class B common share and 65
Class A special shares.


Forward-looking statements contained in this news release involve risks and
uncertainties that could cause actual results to differ materially from those
contemplated by such statements. Factors that could cause such differences
include local real estate markets, zoning applications, changes in interest
rates and general economic conditions. In addition, there are risk factors
described from time to time in the reports and disclosure documents filed by
Jannock Properties Limited with Canadian and U.S. securities regulatory agencies
and commissions.

Jannock Pptys Ltd (TSXV:JPL.UN)
過去株価チャート
から 5 2024 まで 6 2024