Newnorth Projects Ltd. (TSXV:NNP) signed an agreement to sell its 50% stake in Riviera Motor Hotel Fort McMurray on May 29, 2012. The transaction is expected to be completed in the third quarter of 2012. The transaction should close in the first quarter of 2013. The sale is expected to be completed by the end of the year. As on May 19, 2016, all conditions to the transaction has been satisfied. Newnorth Projects Ltd. (TSXV:NNP) cancelled the sale of 50% stake in Riviera Motor Hotel Fort McMurray on April 21, 2017.