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Algoma Central Corp. announces sale of Ridley Square

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Dry Bulk,

Algoma Central Corp. announced it has sold Ridley Square in St. Catharines for CAN$14.1 million. Ridley Square, located in St. Catharines, comprises both retail and service industry units, totaling 47 585 ft2.

“We are pleased to have accomplished another sale,” said Ken Bloch Soerensen, President and CEO of the company. “Ridley Square is the third property we have sold from our real estate portfolio. The proceeds from the sale of our properties will enable new growth for the company in an ever evolving marine industry.”

The Company’s decision follows a new strategic objective to direct capital to the renewal of the domestic dry-bulk fleet and to new opportunities in international shipping.

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