Mr. Neil Subin, investor, reports
NEIL S. SUBIN DISPOSES OF COMMON SHARES OF GENESIS LAND DEVELOPMENT CORP.
Neil S. Subin has sold 1.5 million common shares of Genesis Land Development Corp., representing a decrease in Mr. Subin's securityholdings of approximately 3.54 per cent of the issued and outstanding shares. Mr. Subin disposed of the shares through: Miller Family Education and Medical Trust; Susan F. Miller Spousal 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.
Following the disposition, Mr. Subin's securityholdings decreased from 12.36 per cent of the shares to 8.83 per cent of the shares.
The transactions that resulted in the issuance of this release were completed through the facilities of the Neo Exchange for total consideration of $2,819,915.
The disposition was part of Mr. Subin's and the above 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, either in the open market, by private agreement or otherwise, subject to 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.
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