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Genesis Land Development Corp
Symbol GDC
Shares Issued 42,070,887
Close 2020-08-06 C$ 1.25
Recent Sedar Documents

Genesis Land investor sells 1.5 million shares

2020-08-06 16:39 ET - News Release

An anonymous director reports

NEIL S. SUBIN DISPOSES OF COMMON SHARES OF GENESIS LAND DEVELOPMENT CORP.

Neil S. Subin has disposed of control or direction over 1.5 million common shares of Genesis Land Development Corp., representing a decrease in Mr. Subin's security-holding percentage of approximately 3.57 per cent of the issued and outstanding shares. Mr. Subin disposed of the shares through Lloyd I. Miller, III Trust A-4, Lloyd I. Miller Irrevocable Trust D, Lloyd I. Miller, III Revocable Trust, LIMFAM LLC, MILFAM III LLC, Alimco Financial Corp. and MILFAM II LP.

Prior to the disposition, Mr. Subin disposed of control or direction over 455,900 shares through the aforementioned entities and MBM Trust A-4. Following the disposition, Mr. Subin's security-holding percentage decreased from 16.55 per cent of the shares as previously reported to 12.36 per cent of the shares.

The transactions that resulted in the issuance of this release were completed through the facilities of the Toronto Stock Exchange for total consideration of $1,824,705.

The disposition was part of Mr. Subin's and the aforementioned entities normal investment activities. Depending on the evolution of Genesis's business, financial condition, the market, if any, for Genesis's securities, general economic conditions and other factors, Mr. Subin and his joint actors may acquire additional securities of Genesis or sell some or all of the securities they hold, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.

This press release is being issued pursuant to Section 5.2 of National Instrument 62-104 -- Take-Over Bids and Issuer Bids. For inquiries or a copy of the related early warning reports for the aforementioned companies, copies of which are filed on SEDAR, please contact Mr. Subin at 2336 S.E. Ocean Boulevard, suite 400, Stuart, Fla., USA, 34996.

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