CALGARY, May 17, 2023
/CNW/ - Genesis Land Development Corp. (TSX: GDC) ("Genesis") is
pleased to announce that the City of Calgary Council approved the
Outline Plan and Land Use application for its Logan Landing development yesterday.
Genesis would like to thank the City of Calgary Council, Calgary
Planning Commission and Administration for all the work they have
done during this long and thorough approval process.
"We are delighted to advance the development of this community
and work towards breaking ground this spring," said President and
CEO, Iain Stewart. "Logan Landing will provide over 2,000 new
housing units to the Calgary
market which will help maintain the City's affordability
advantage."
"Logan Landing is a special
community that overlooks the Bow River Valley and a big part of its
attractiveness is its environmental significance, which Genesis is
committed to protecting", said Arnie
Stefaniuk, Vice President, Regional Planning. "We are
bringing the Bow River to all Calgarians by purposefully making
public the most scenic and valuable viewpoints. People will travel
here for their special occasion photos such as graduations and
weddings and to enjoy the look-off points, patios, restaurants and
neighborhood activity centre."
About Genesis
Genesis is an integrated land
developer and residential home builder with a strategy to grow its
portfolio of well-located, entitled and unentitled
primarily residential lands and serviced lots throughout the
Calgary Metropolitan Area.
Cautionary Statement Regarding Forward Looking
Information
This news release contains 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 and operations of Genesis.
Forward-looking statements in this news release include, but are
not limited to, matters relating to the development of Logan Landing. 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", "scheduled", "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".
Forward-looking statements are based on material factors or
assumptions made by us with respect to, among other things,
opportunities that may or may not be pursued by us; changes in the
real estate industry; fluctuations in the Canadian and Alberta economy; changes in the number of lots
sold and homes delivered per year; and changes in laws or
regulations or the interpretation or application of those laws and
regulations. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control.
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; the cyclicality of the oil and gas industry; changes in the
Canadian US dollar exchange rate; labour matters; governmental
regulations; general economic and financial conditions; 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 in the Corporation's MD&A under the
heading "Risks and Uncertainties" and the Corporation's annual
information form under the heading "Risk Factors".
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.
