Genesis Land Development Corp. - Cease trade order issued

About this update from Genesis Land Development Corp.

[{"type":"text","content":"\n\n\n\nCALGARY, April 13 /CNW/ - Genesis Land Development Corp. (the "Company"\nor "Genesis") announces that a cease trade order was issued by the Alberta\nSecurities Commission on April 13, 2009 as the Company has not filed its\nfinancial statements, management discussion and analysis and annual\ninformation form for the year ended December 31, 2008 within the regulated\ntimeframe. As a result, trading in the common shares of the Company was halted\non the Toronto Stock Exchange at market open today.\n\n\nThe Company anticipates filing the required financial statements this\nweek and will concurrently apply for a revocation of the cease trade order.\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.\n\n\n","length":1663,"tagName":"div"}]

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