CALGARY, Jan. 24, 2019 /CNW/ - Genesis Land Development
Corp. ("Genesis") is pleased to announce the recent decision of
Alberta's Municipal Government
Board confirming that its 185-acre OMNI Commercial Project lands
located near the intersection of Stoney Trail and Airport Trail in
Rocky View County is approved for commercial uses. These lands are
strategically located, bordering the burgeoning north east side of
the City of Calgary,
Arnie Stefaniuk, VP, Land
Development with Genesis states, "Branded as The OMNI, this new
generation town center destination is envisioned to be comprised of
various retail, commercial and leisure concepts and elements that
are intended to be constructed over the next several years."
Iain Stewart, President &
Chief Executive Officer of Genesis says, "This approval is the
culmination of an intensive planning and consultation process
between Rocky View County, The City of
Calgary and Genesis. Genesis is excited to be able to
move the planning process forward for these 185 acres and to make
this multi-faceted and unique master planned destination a
reality".
Additional Information will be shared throughout the project at
www.theomnicalgary.com.
About Genesis
Genesis Land Development Corp. is a land developer and
residential home builder in the Calgary Metropolitan Area. The Corporation's
common shares are listed on the Toronto Stock Exchange (TSX:
GDC).
ADVISORIES
Forward-Looking Statements
This news release may contain certain statements which
constitute forward-looking statements or information
("forward-looking statements") within the meaning of applicable
securities legislation, including Canadian Securities
Administrators' National Instrument 51-102 'Continuous Disclosure
Obligations', concerning the business, operations and financial
performance and condition of Genesis generally and in respect of
the OMNI commercial project land in particular including the
proposed composition and development timing and completion.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be
achieved".
Although Genesis believes that the anticipated future
results, performance or achievements expressed or implied by
forward-looking statements are based upon reasonable assumptions
and expectations, the reader should not place undue reliance on
forward-looking statements because they involve assumptions, known
and unknown risks, uncertainties and other factors many of which
are beyond the Corporation's control, which may cause the actual
results, performance or achievements of Genesis to differ
materially from anticipated future results, performance or
achievement expressed or implied by such forward-looking
statements. Accordingly, Genesis cannot give any assurance that its
expectations will in fact occur and cautions that actual results
may differ materially from those in the forward-looking
statements.
Factors that could cause actual results to differ materially
from those set forth in the forward-looking statements include, but
are not limited to: the impact of contractual arrangements and
incurred obligations on future operations and liquidity; local real
estate conditions, including the development of properties in close
proximity to Genesis' properties; the uncertainties of real estate
development and acquisition activity; fluctuations in interest
rates; ability to access and raise capital on favourable terms; not
realizing on the anticipated benefits from transactions or not
realizing on such anticipated benefits within the expected time
frame; labour matters, governmental regulations, stock market
volatility and other risks and factors described from time to time
in the documents filed by Genesis with the securities regulators in
Canada available at www.sedar.com,
including the Corporation's MD&A under the heading "Risks and
Uncertainties" and the AIF under the heading "Risk Factors".
Furthermore, the forward-looking statements contained in this news
release are made as of the date of this news release and, except as
required by applicable law, Genesis does not undertake any
obligation to publicly update or to revise any of the
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Genesis Land Development Corp.