CALGARY, Jan. 24, 2019 /CNW/ - Genesis Land Development Corp. ("Genesis") is pleased to announce the recent decision of Alberta's Municipal Government Board confirming that its 185-acre OMNI Commercial Project lands located near the intersection of Stoney Trail and Airport Trail in Rocky View County is approved for commercial uses. These lands are strategically located, bordering the burgeoning north east side of the City of Calgary,
Arnie Stefaniuk, VP, Land Development with Genesis states, "Branded as The OMNI, this new generation town center destination is envisioned to be comprised of various retail, commercial and leisure concepts and elements that are intended to be constructed over the next several years."
Iain Stewart, President & Chief Executive Officer of Genesis says, "This approval is the culmination of an intensive planning and consultation process between Rocky View County, The City of Calgary and Genesis. Genesis is excited to be able to move the planning process forward for these 185 acres and to make this multi-faceted and unique master planned destination a reality".
Additional Information will be shared throughout the project at www.theomnicalgary.com.
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).
This news release may contain certain statements which constitute forward-looking statements or information ("forward-looking statements") within the meaning of applicable securities legislation, including Canadian Securities Administrators' National Instrument 51-102 'Continuous Disclosure Obligations', concerning the business, operations and financial performance and condition of Genesis generally and in respect of the OMNI commercial project land in particular including the proposed composition and development timing and completion. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Although Genesis believes that the anticipated future results, performance or achievements expressed or implied by forward-looking statements are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements because they involve assumptions, known and unknown risks, uncertainties and other factors many of which are beyond the Corporation's control, which may cause the actual results, performance or achievements of Genesis to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Accordingly, Genesis cannot give any assurance that its expectations will in fact occur and cautions that actual results may differ materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to: the impact of contractual arrangements and incurred obligations on future operations and liquidity; local real estate conditions, including the development of properties in close proximity to Genesis' properties; the uncertainties of real estate development and acquisition activity; fluctuations in interest rates; ability to access and raise capital on favourable terms; not realizing on the anticipated benefits from transactions or not realizing on such anticipated benefits within the expected time frame; labour matters, governmental regulations, stock market volatility and other risks and factors described from time to time in the documents filed by Genesis with the securities regulators in Canada available at www.sedar.com, including the Corporation's MD&A under the heading "Risks and Uncertainties" and the AIF under the heading "Risk Factors". Furthermore, the forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Genesis does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Genesis Land Development Corp.
For further information: Iain Stewart, President and Chief Executive Officer; Arnie Stefaniuk, Vice President, Land Development, 7315 - 8th Street NE Calgary AB T2E 8A2, P: 403-265-8079, Toll free: 1-800-341-7211, Email: [email protected], Website: www.genesisland.com