Here is the solution:
There seems to be an issue with Xcode 7 beta where the search path for manually added frameworks is missing.
To fix the issue add the search path by doing the following:
- Select Project
- Click on Targets
- Click Build Settings
- Search for:
Framework Search Path
- Add
$(PROJECT_DIR)
and choose Recursive option.
The project should build now.
Thanks to this post : Link to stack