|
|
|
|
|
QUEBEC CITY, Quebec, Nov 13, 2014 - (ACN Newswire) - ROI Land Investments Ltd. (OTCQB: ROII) ("ROI" or the "Company"), a diversified real estate land development investment company, announces that it has raised US$6,155,475.00 in equity from qualified individual and institutional investors. The Company intends to use these funds for implementation of the Company's business plan to acquire pre-zoned land ready for residential and commercial development as well as general working capital.
The Company continues evaluating significant land opportunities within the province of Quebec and with additional special focus on British Columbia, Canada.
In Northern British Columbia, specifically in the towns of Kitimat and Terrace, there is an explosive demand for housing due to a macro economic development derived from the construction of one of Canada's largest pipelines for the exportation of Liquefied Natural Gas ("LNG") as well as terminals and other points of distribution. The LNG Projects are estimated to be some of the largest private investment developments in the history of British Columbia and Canada.
In a Vancouver Sun Article posted on November 8th, it was reported that construction of the LNG Canada Project (Kitimat) may cost as much as CAD$40 billion, will create thousands of new jobs and could generate CAD$39 billion in tax revenue over its lifespan. The recent environmental certificate application of LNG Canada joint venture that includes Shell Canada Energy (TSX: SHC), PetroChina, Korea Gas Corp. and Mitsubishi Corp indicates that that project is expected to create 7,500 new jobs and generate about CAD$94 million per year in municipal and regional taxes during construction and about CAD$15 million per year in municipal and regional taxes during operations.
According to the British Columbia government website, there are three other major LNG projects proposed in Kitimat, including the Chevron (NYSE: CVX) and Apache LNG Kitimat project, which is to be considered the most advanced LNG project in British Columbia (http://www.chevron.ca/our-businesses/kitimat-lng)
Prince Rupert, BC also has 8 major LNG project proposals including Pacific NorthWest LNG financed by the consortium PETRONAS, Sinopec, JAPEX, Indian Oil Corporation and PetroleumBRUNEI and WCC LNG project by Imperial OIL (TSE: IMO) as well as ExxonMobil Canada (NYSE: XON).
The Northern British Columbia housing markets were among the first markets in Canada to rebound based on a positive long-term outlook on mining, energy and infrastructure investments especially related to major project announcements such as the LNG Projects. The housing market in Northern British Columbia is forecasted to shift higher through 2016. Increased activity will reflect employment, population and income gains geared to the commencement and expansion of major commodity-based projects across the north, including LNG terminals and port expansions in the northwest, mining in the interior and continued activity in the oil and gas fields in the northeast. Because the housing market was not overbuilt during the recession, there is a limited inventory of housing compared to demand.
ROI President Mr. Philippe Germain stated: "Again, we want to thank all of our shareholders/investors who believe in our business model and acquisition strategy. We are fully committed to our business plan and action plan. The funds secured through this equity raise shall be utilized for further acquisition developments and general working capital. We are especially excited to pursue opportunities in Northern British Columbia where we envision significant demand and growth of the housing market."
Management will continue to update shareholders via its SEC filings and press releases as additional material events occur. For more detail information on this specific debt issuance please refer to our recent 8K filed on November 10th, 2014.
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
Topic: Press release summary
Source: ROI Land Investments Ltd.
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
|
