Genesis Announces Results of Annual General Meeting - Michael Brodsky Appointed Chairman of the Board - William Pringle and Mark Scott Join Board

TSE Stock Symbol:  GDC

CALGARY, Sept. 17, 2012 /CNW/ - Genesis Land Development Corp. ("Genesis" or "the Corporation") (TSX: GDC) is pleased to announce that at the annual general meeting ("AGM") of its shareholders, the shareholders approved all the resolutions presented at the meeting, including:

• To set the number of directors at seven.
• The election of the following board members:
• Mr. Yazdi Bharucha
• Mr. Michael Brodsky
• Mr. Steven Glover
• Mr. Mark  Mitchell
• Mr. William Pringle
• Mr. Sandy Poklar
• Mr. Mark Scott
• The reappointment of MNP LLP as auditors

At a meeting of the Board of Directors that followed the AGM, Mr. Michael Brodsky was unanimously appointed by the directors to be Chairman of the Board of Directors.

Messrs William Pringle and Mark Scott joined the Board as a result of the voting at the AGM.

Mr. Pringle is a founder of Bordeaux Properties Inc. and is currently its Executive Chair.  Bordeaux is a land developer with operations focused on country residential projects and builds homes in Calgary as Baywest Homes.  Previously, Mr. Pringle was with the Brookfield Asset Management Group for 14 years, during which time he had senior roles with the operating arms of Brookfield Properties Corporation, a multi-national real-estate company.  He was President and CEO of Brookfield Homes from March of 1994 until February of 2000, and prior to that he was president of Brookfield's office property group.  Mr. Pringle is a Chartered Account and received his Bachelor of Commerce from the University of Calgary.  Mr. Pringle is involved with various community activities, including past chair of the Major Donor Group, United Way of Calgary, and has served on the boards of various private and public companies.

Mr. Scott brings nearly 30 years of experience in real estate, investment banking and international business. He has extensive experience with real estate mergers & acquisitions, asset sales, and property asset management. He worked for 14 years with Scotia Capital Inc., most recently as Managing Director & Office Head in the Vancouver office. He is currently a private investor. Mr. Scott has served on the Board of Trustees of the Fraser Institute and currently serves on the Board of Directors of China Education Resources. Mr. Scott holds a B.A. in Management and Economics from the University of Guelph.

About Genesis:

Genesis is a Calgary based land development Corporation and residential home builder with land holdings in Alberta and British Columbia.  Its active operations are located primarily in the Calgary metropolitan area.

SOURCE: Genesis Land Development Corp.

Contact:  

Jeff Blair, C.E.O., Genesis Land Development Corp.  
Simon Fletcher, C.F.O, Genesis Land Development Corp.
Toll Free: [phone], 1-800-341-7211, Fax: [phone]              
E-Mail: [email protected]  Internet: www.genesisland.com