Genesis Postpones Meeting of Shareholders to August 20th

CALGARY, Aug. 9, 2013 /CNW/ - Genesis Land Development Corp. (TSX: GDC) (the "Corporation" or "Genesis") announced today that it has postponed the upcoming Annual General Meeting of Shareholders (the "Meeting") originally scheduled to take place on Monday, August 12, 2013 at 9:00 a.m. (Mountain Daylight Time).  The Annual General Meeting of Shareholders will now take place on Tuesday, August 20, 2013 at 9:00 a.m. (Mountain Daylight Time).

In light of ongoing litigation commenced by Genesis against a group of dissident shareholders alleging violations of securities laws, the Board has postponed the Meeting in order to allow the litigation to take its course.  It is expected that the case will be heard on August 15, 2013 at which time Genesis will be seeking the direction of the court prior to proceeding with the Meeting.  Genesis will continue to keep the market apprised if a further postponement of the Meeting is required.

The deadline for submitting proxies has been changed to August 16, 2013 at 9:00 a.m. (Mountain Daylight Time). Shareholders who have already voted their WHITE proxy need not take any further action. Shareholders who have yet to vote may continue to do so until that time. Furthermore, any shareholder who has voted the dissident proxy can still change their mind and support management by submitting a later dated WHITE proxy prior to the August 16, 2013, 9:00 a.m. (Mountain Daylight Time) proxy voting deadline.

The venue for the meeting shall remain the same:  The Genesis Centre of Community Wellness, Multi-Purpose Room, 7556 Falconbridge Blvd. N.E., Calgary Alberta.

About Genesis

Genesis is a Calgary-based real estate development corporation engaged in the acquisition, development, and sale of land, residential lots and homes in Alberta and British Columbia. All business activities of the Corporation are conducted in Western Canada, with development lands held primarily in and around the cities of Calgary and Airdrie. With a diversified and substantial land base, the Corporation is well positioned to focus on developing those projects that offer the best return in the market going forward.

SOURCE: Genesis Land Development Corp.