Business
Green River Gold Announces an Expansion into the Real Estate Development Business
PRESS RELEASE HIGHLIGHTS: Green River will be entering the real estate development businesses, with a focus on the Edmonton and Northern Alberta region, beginni
About this update from Green River Gold Corp
[{"type":"text","content":" PRESS RELEASE HIGHLIGHTS: Green River will be entering the real estate development businesses, with a focus on the Edmonton and Northern Alberta region, beginning early in calendar 2025. The Company's primary business will continue to be exploration and development of its mineral properties in British Columbia. The new business will be a separate division involving a new senior manager with expertise and a track record of success in real estate development, particularly in the Edmonton region. Edmonton, Alberta--(Newsfile Corp. - January 24, 2025) - Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (\"the Company\" or \"Green River\") has signed a letter of intent to work with an experienced Edmonton, Alberta based developer and rental property manager to develop real estate projects in the Edmonton region. The Company intends to invest primarily in multi-family residential units, including new building projects. A final agreement with the Edmonton based developer and property manager is expected to be signed by February 15, 2025. Further announcements and details on planned projects will be announced as they are finalized. Perry Little, President and CEO of Green River comments, \"Green River is not abandoning its primary business of exploration and development of mineral properties in British Columbia. This diversification and expansion move is being made to generate cash flow and reduce our reliance on the capital markets for funding exploration. Having lived in Edmonton for the past 45 years, I have watched the residential real estate market go through many cycles. The City is currently experiencing rapid population growth as families move from other Provinces where real estate is priced considerably higher. The Edmonton market has not experienced the rapid price appreciation that has happened in parts of British Columbia and Southern Ontario in recent years. Prices are among the most affordable of the larger cities in Canada. Also, taxes are quite low compared to other Provinces, with Alberta remaining the only Province with no Provincial Sales Tax. Our initial focus will be on building smaller (8-plex) mult-unit rental properties for resale in established neighbourhoods. New zoning bylaws that came into effect at the beginning of 2024 have opened up an opportunity in that market segment. The developer and builder we wil...