INR

Innovative Properties Inc. ("Innovative" or the "Corporation") (TSX VENTURE:INR)
announced today that, subject to the approval of the TSX-Venture Exchange and
the shareholders of Innovative (the "Shareholders"), it intends to move forward
with a restructuring and recapitalization transaction to move toward reducing
the Corporation's debt burden and strengthening its balance sheet (the
"Restructuring Transaction"). 


The Restructuring Transaction shall consist of the following:



a.  the consolidation of the common shares of Innovative (the "Common
    Shares") on a 7:1 basis such that the 23,537,825 Common Shares issued
    and outstanding as of the date hereof shall be consolidated to 3,362,546
    Common Shares (the "Share Consolidation");



In connection with the Restructuring Transaction, Innovative has borrowed
$45,000.00 from a group of investors (the "Investors") for working capital
purposes to satisfy certain debts (the "Loan"). The Loan shall bear interest at
a rate of 6% per annum and is evidenced by a demand promissory note. 


In addition, there have been significant changes to the Board of Directors and
Officers of the Corporation. Gordon Neal and Boyd Hunter have resigned from
their positions as President and Chief Executive Officer and Chief Financial
Officer, respectively. The Board has elected Sonny Janda as President and Chief
Executive Officer and Jamie Lewin as Chief Financial Officer. Mr. Neal will
remain a director of the Corporation.


The Board announces the resignations of Directors Ronald Smith and George
Findlay. The Board has elected Eugene Beukman and Sonny Janda to replace these
vacancies. In addition, Jamie Lewin has been elected to the Board as the sixth
Director of the Corporation. 


The Corporation wishes the resigning Directors and Officers the best of luck
with their future endeavors and thanks them for their contribution and
invaluable time spent. Biographies for the new officers and directors can be
found at the bottom of this news release.


Furthermore, Innovative expects to mail an information circular (the "Circular")
to Shareholders in the month of November, 2011 in connection with holding of a
special meeting of Shareholders to be held on or about December 19, 2011 in
Halifax, Nova Scotia, to approve the Restructuring Transaction, elect directors
to the Board who shall be nominated by the Investors and change the registered
and records (head) office to British Columbia. The Circular will include
additional details concerning the Restructuring Transaction, the directors who
shall stand for election and particulars on the head office change. 


Biographies

Sonny Janda

Sonny Janda began his career in the Canadian real estate management, development
and acquisitions market where he gained extensive experience. In 2010, he was
appointed President and CEO of Grand Peak Capital Corp., a TSX-V (GPK) listed
company that invests in public and private corporations, primarily in junior
exploration companies. He holds a Bachelor's degree in economics from Simon
Fraser University located in Vancouver, BC. He is a founding director of Red
Star Capital Ventures Inc., a capital pool company listed on the TSX Venture
Exchange. He also serves on the boards of several other public companies listed
on the TSXV including Maxtech Ventures Inc., Desert Gold Ventures Inc., Lucky
Minerals Inc. and Chimata Gold Corp. In addition, he is a director of CNSX
listed EasyMed Services Inc. Mr. Janda is actively involved in several
charitable organizations, including the B.C. Children's Hospital Foundation, and
the Richmond Hospital Foundation.


Jamie Lewin 

Jamie Lewin is a professional accountant who also holds a Master's degree in
Business Administration (MBA), with specialization in financial management, from
City University, of Bellevue, WA, in the US and he holds a Certification in
Public Companies from SFU in British Columbia. In addition, he completed a LLB
at Laval University in Quebec City and a BA in Economics at the University of
Western Ontario. He has more than 18 years experience in accounting and finance
for private and public companies. They range from brokerage and investment
through to manufacturing, distribution, resources and service. Operations have
been both domestic and international. Previous management positions include
Controller and Finance Manager. Currently Jamie is an operational CFO for Grand
Peak Capital, Lucky Minerals and Grenville Gold and executive level only CFO of
Choice Gold, AHI and ME Resources. In the past he has also been operational CFO
of Abenteuer Resources and Dussault Apparel. These companies are or were listed
on the TSX-V, CNSX and OTC BB. Mr. Lewin has been a director and audit committee
member with Abenteuer Resources and a director with Lucky Minerals. Jamie has
served on the Boards of two NPO's, in Treasury and Fund Development functions,
and is a member of the Vancouver Art Gallery. He is also the owner of Best Fit
Consulting.


Eugene Beukman

Eugene Beukman serves as President and/or as a director for a number of public
companies, trading on the TSX Venture Exchange and Canadian National Stock
Exchange. He graduated from the University of Johannesburg, South Africa with a
Bachelor of Law degree and a Bachelor of Law Honors Postgraduate degree in 1987.
From 1987 until 1993, when he moved to Vancouver, British Columbia, Mr. Beukman
was employed as a legal advisor to the predecessor of BHP Billiton. He has over
twenty years experience in the acquisition of assets and joint ventures. Mr.
Beukman is also an Admitted Advocate of the Supreme Court of South Africa. He
serves as an audit committee member for a number of public companies.


ABOUT INNOVATIVE PROPERTIES INC.

Innovative Properties Inc. is a publicly traded Canadian corporation involved in
property management related services and technologies. 


FORWARD LOOKING STATEMENTS

This press release may contain or refer to certain forward-looking statements
relating, but not limited to, Innovative's expectations, intentions, plans and
beliefs with respect to Innovative. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans", "expects",
"does not expect", "is expected", "budget", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or equivalents or
variations, including negative variations, of such words and phrases, or state
that certain actions, events or results, "may", "could", "would", "should",
"might" or "will" be taken, occur or be achieved. 


Forward-looking statements rely on certain underlying assumptions that, if not
realized, can result in such forward-looking statements not being achieved.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors that could cause the actual results of Innovative to be materially
different from the historical results or from any future results expressed or
implied by such forward-looking statements. Although Innovative has attempted to
identify important factors that could cause actual actions, events or results or
cause actions, events or results not to be estimated or intended, there can be
no assurance that forward-looking statements will prove to be accurate as actual
results and future events could differ materially from those anticipated in such
statements. Other than as required by applicable Canadian securities laws,
Innovative does not update or revise any such forward-looking statements to
reflect events or circumstances after the date of this document or to reflect
the occurrence of unanticipated events. Accordingly, readers should not place
undue reliance on forward-looking statements.

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