Business
Genesis Land Development Corp. announces revocation of cease trade orders
(TSX: GDC) CALGARY, May 14 /CNW/ - Genesis Land Development Corp. (the "Corporation") (TSX: GDC) ...
About this update from Genesis Land Development Corp.
[{"type":"text","content":"\n\n\n\n(TSX: GDC)\n\n\nCALGARY, May 14 /CNW/ - Genesis Land Development Corp. (the\n"Corporation") (TSX: GDC) today announced that the cease trade orders issued\nby the securities commissions or equivalent in Alberta, British Columbia,\nManitoba and Ontario in respect of the Corporation (collectively, the "CTOs"),\nwere fully revoked by applicable securities regulatory authorities on or\nbefore May 14, 2009. The CTOs were issued in connection with the Corporation's\ndelay in filing its audited annual financial statements and related\nmanagement's discussion and analysis for the year ended December 31, 2008. The\nCorporation filed such documents on April 30, 2009, which are available for\nviewing at www.sedar.com.\n\n\nAs a result, the Corporation's common shares have been reinstated for\ntrading on the Toronto Stock Exchange.\n\n\nAbout Genesis Land Development Corp.\n\n\nGenesis Land Development Corp. is a Calgary-based land development\ncompany with an inventory of more than 24,000 future residential building\nsites (single-family and multi-family) and over 300 acres of\ncommercial/industrial lands in Western Canada, of which more than 14,000\nresidential lots and over 300 acres of commercial/industrial lands are located\nin the Calgary metropolitan area.\n\n\nCertain statements in this news release could constitute forward-looking\nstatements. The Company's line of business involves risk, uncertainties and\nother factors which may cause actual results, performance or achievements of\nGenesis to be materially different from any future results, performance or\nachievements expressed or implied by such forward-looking statements. Such\nfactors include the date on which the Toronto Stock Exchange reinstates the\nCorporation for trading, the number of dwelling sites that Genesis will\nactually develop and sell and Genesis' ability to collect amounts owing from\nlot purchasers. Those risks and uncertainties are more fully described in\nregulatory filings that can be obtained on SEDAR at www.sedar.com.\n\n\nThe Toronto Stock Exchange has not reviewed and does not accept\nresponsibility for the adequacy and accuracy of this release.\n\n\n","length":2266,"tagName":"div"}]