TORONTO, June 15, 2015 /CNW/ - Park Lawn Company Limited (CSE: PRL) (the "Company" or "Park Lawn") announced today that it has entered into a Letter of Intent with Mattamy Development Corporation ("Mattamy"). It is the intention of the parties to enter into a joint venture agreement for the development of the Company's property at 57 Linelle St. The Letter of Intent provides for a number of conditions related to the development of the site to be satisfied prior to proceeding with the joint venture.
About Park Lawn
Park Lawn Company Limited ("the Company") owns a 2.9 acre parcel of land at 57 Linelle Street, Toronto, Ontario and holds a Promissory Note in the amount of $5,096,498 issued by Park Lawn Corporation. The Company also owns the house and land located at 53 Linelle Street, Toronto, Ontario. The property is located immediately adjacent to the 57 Linelle Street property.
About Mattamy Homes
Mattamy Homes is the largest privately owned homebuilder in North America, with operations across the United States and Canada. Mattamy has built and closed more than 65,000 homes in 160 communities. In the United States, the company is represented in eight metropolitan areas – Minneapolis-St. Paul, Charlotte, Phoenix, Tucson, Jacksonville, Orlando, Tampa and Sarasota – and in Canada, those communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Park Lawn Company Limited
For further information: Frank Mills, President, Park Lawn Company Limited, Tel: (647) 933-9079, Fax: (416) 512-6076