CALGARY, Sept. 13, 2016 /CNW/ - Genesis Land Development Corp. ("Genesis") (TSX:GDC) is pleased to announce that it has entered into a purchase and sale agreement with the City of Calgary for +/- 6.99 acres of serviced lands located in Sage Hill Crossing, Calgary Alberta for $9,436,500 with a closing date of September 30, 2016. Genesis expects to receive the sale proceeds on closing.
Genesis Land Development Corp. is a land developer and residential home builder in the Calgary Metropolitan Area. The Corporation's common shares are listed on the Toronto Stock Exchange (TSX: GDC).
SOURCE Genesis Land Development Corp.
For further information: Stephen J. Griggs, interim Chief Executive Officer, Kirsten Richter, CPA, CA, interim Chief Financial Officer, 7315 - 8 Street NE Calgary AB T2E 8A2, 403-265-8079, [email protected], www.genesisland.com