ROI Land Investments Ltd. Announces the Full Acquisition of the Residential Land Development Project in Beauport, Quebec, Canada
Project Consists of 1,971,000 Sq. Ft. and Future Development of Residential Units
QUEBEC CITY, Quebec, October 17, 2014, 2014 (GLOBE NEWSWIRE) -- ROI Land Investments Ltd. (ROII) ("ROI" or the "Company"), a diversified North American real estate land development investment company, today announced that effective October 15th, 2014 it has fully acquired the "Beauport/Cambert Project". The total acquisition cost was CAD $5,913,723. Equivalent to approximately U.S. $5,269,471.12 at today`s currency rate of Canadian vs. the US dollar of 1 CAD = 0.089105
This acquisition represents ROI`s first multi-million dollar land acquisition with several other major projects currently under contemplation. The Beauport/Cambert Project is a residential development project located in Beauport, Quebec, Canada consisting of 1,971,000 Sq. Ft. The completed development of this project is expected within the next three years. The Beauport/Cambert Project is the only low-density residential project planned in Beauport, Quebec for the next 10 years. Beauport is a suburb of Quebec City, Canada, with an overall population of 600,000 people. There was a 6.45% total population growth in the 2003-2011 period in Beauport, compared to 5.87% growth for the Province of Quebec and a 4.46% growth for Canada over the same period, according to Statistics Canada. http://www.youtube.com/watch?v=SJLmvMg_gfE
The Beauport/Cambert Project has been objectively appraised at $8,200,000 Canadian, according to the independent evaluation conducted by the Group Altus, a world-renowned independent appraisal and consulting firm (http://www.altusgroup.com).
Mr. Philippe Germain, President, stated: "We are very pleased to conclude this major acquisition by adding this valuable asset to our balance sheets. We want to thank our investor and/or shareholders as well as the entire team of professionals who worked with us making sure this acquisition was successfully completed. This acquisition is a key milestone for the future of our company as we geared evaluating additional target acquisitions in order to continue improving our Company`s assets and profitability."
The Company continues evaluating other land acquisition opportunities acquisition within Quebec and British Columbia, Canada as well as internationally. Management will continue to update shareholders via its SEC filings and press releases as additional material events occur.
About ROI Land Investments, Ltd.
ROI Land Investments, Ltd. ("ROI") is a Real Estate Investment Company specializing in Land Development. ROI`s business model consists of acquiring attractive land developments free of zoning restrictions, obtaining the necessary development permits, outsourcing the development of the infrastructure and profiting from the sale of the subdivided land units to known large regional developers.
SAFE HARBOR AND INFORMATIONAL STATEMENT This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company`s financing plans; (ii) trends affecting the company`s financial conditions or results of operations; and (iii) the company`s growth strategy and operating strategy..
The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company`s ability to control, and that actual results may differ materially from those projected in the forward-looking statements, as a result of various factors including the risk disclosed in the company`s statements and reports filed with the SEC. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
For more information please visit our website: www.ROILandInvestments.com
CONTACT: Philippe Germain, President.
T: +1 (514) 667 9470
M: +1 (418) 264 7134
Email: Pgermain@ROILandInvestments.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ROI Land Investments LTD via GlobeNewswire
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