Business
Genesis Land Development Corp. - Appointment of Interim Chief Executive Officer
TSE Stock Symbol: GDC CALGARY, April 24 /CNW/ - Further to the press release of April 17, 2009, t...
About this update from Genesis Land Development Corp.
[{"type":"text","content":"\n\n\n\nTSE Stock Symbol: GDC\n\n\nCALGARY, April 24 /CNW/ - Further to the press release of April 17, 2009,\nthe Special Committee of Genesis Land Development Corp. (the "Company" or\n"Genesis") has resolved to terminate the employment of Mr. Gobi Singh,\nPresident and Chief Executive Officer of the Company. Mr. Singh remains a\ndirector of Genesis.\n\n\nThe Special Committee has appointed Mr. John Latimer to act as Interim\nChief Executive Officer of the Company. It is anticipated that the Board of\nDirectors of the Company will commence a search for a suitable permanent Chief\nExecutive Officer immediately.\n\n\nMr. Latimer is currently Managing Director, Aldert Chemicals Ltd.\n(chemical distribution) and has held such position since October, 2000. Prior\nthereto, Mr. Latimer was the President and a Director of Monarch Development\nCorporation, an integrated land development and home construction company from\nMay 1992 to May 2000.\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 number of dwelling sites that Genesis will actually\ndevelop and sell and Genesis' ability to collect amounts owing from lot\npurchasers. Those risks and uncertainties are more fully described in\nregulatory filings that can be obtained on SEDAR at www.sedar.com.\n\n\n","length":2081,"tagName":"div"}]