Genesis Land Development Corp. $9.4 million Sale of a portion of Sage Hill Crossing lands

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Genesis Land Development Corp.

Sep 14, 2016, 02:11 ET

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.

About Genesis

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.

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

Organization Profile

Genesis Land Development Corp.

About Genesis Genesis is an integrated, award-winning land developer and residential homebuilder, creating innovative and successful communities in the Calgary Metropolitan Area. Genesis is committed to supporting its communities through partnerships like the Genesis Centre...