CALGARY,
AB, Jan. 30, 2025 /CNW/ - Genesis Land
Development Corp. (TSX: GDC) ("Genesis") announced the retirement
of Wayne King, Senior Vice
President, Information Systems & Special Projects and
Arnie Stefaniuk, Vice President,
Regional Planning, both effective January
31, 2025.
"Mr. King has been an integral part of our team since 2017, as
Chief Financial Officer through 2023 and subsequently as SVP,
Information Systems and Special Projects. His leadership has been
instrumental in our growth, and we are deeply grateful for his
contributions," said Iain Stewart,
Chief Executive Officer.
"Since 2000, Mr. Stefaniuk has played a pivotal role in creating
welcoming communities people love to live in. His leadership,
dedication and vision leading our Land Development team for most of
his tenure, have been invaluable to the success of our
organization," Mr. Stewart commented. "Mr. Stefaniuk leaves a
legacy of well-conceived, designed and developed communities
throughout the Calgary
Metropolitan region."
"We are excited to celebrate their incredible careers and wish
them all the best in this new chapter of their lives" added Mr.
Stewart.
About Genesis
Genesis is an integrated land developer and residential home
builder operating in the CMA holding a portfolio of well-located,
entitled and unentitled primarily residential lands and serviced
lots in the CMA.
Website: www.genesisland.com
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 future growth. 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.sedarplus.ca, 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.
