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Genesis Land Development Corp. Announces $30 Million Rights Offering
Genesis Land Development Corp. Announces $30 Million Rights Offering Canada New...
About this update from Genesis Land Development Corp.
[{"type":"text","content":"\n \n \n \n Genesis Land Development Corp. Announces $30 Million Rights Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION OR DISSEMINATION IN THE UNITED STATES.  FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAWS./\n \n \n \n \n CALGARY, AB\n \n ,\n \n Nov. 10, 2021\n \n /CNW/ - Genesis Land Development Corp. (TSX: GDC) (\"Genesis\", the \"Company\" or \"we\") today announced that it is offering rights (the \"Rights Offering\") to eligible holders of its common shares (the \"Common Shares\") of record at the close of business on\n \n November 18, 2021\n \n (the \"Record Date\").\n \n \n Pursuant to the Rights Offering, each holder of Common Shares will receive one right (a \"Right\") for each Common Share held. Each whole Right will entitle the holder to subscribe for 0.3583088 of a Common Share. As a result, holders of Common Shares will need to exercise 2.790889 Rights to acquire one Common Share. A holder of Rights must pay\n \n $2.00\n \n to purchase one Common Share. No fractional Common Shares will be issued and, where the exercise of Rights would otherwise entitle the holder of Rights to fractional Common Shares, the holder's entitlement will be reduced to the next lowest whole number of Common Shares and no cash or other consideration will be paid in lieu thereof.\n \n \n The Rights will trade on the Toronto Stock Exchange (\"TSX\") under the symbol GDC.RT commencing on\n \n November 17, 2021\n \n . The ex-rights trading date for the Common Shares on the TSX will be\n \n November 17, 2021\n \n , meaning that Common Shares purchased on or following\n \n November 17, 2021\n \n , will not be entitled to receive Rights under the Rights Offering. The Rights Offering expires at\n \n 5:00 p.m.\n \n (\n \n Toronto\n \n time) (the \"Expiry Time\") on\n \n December 17, 2021\n \n . Rights are exercisable until the Expiry Time, after which time unexercised Rights will be void and of no value.\n \n \n Genesi...