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| ROI to Use Proceeds to Acquire Land in British Columbia |
QUEBEC CITY, Quebec, May 22, 2015 - (ACN Newswire) - ROI Land Investments, Ltd. (OTCQB: ROII) ("ROI" or the "Company"), a diversified real estate land development investment company, announced today that it has completed on a $3,000,000 bond offering to accelerate its strategy to acquire and develop land in Kitimat, British Columbia.
"The proceeds will enable ROI to acquire 170,000 square feet of land and fund initial development work, including permitting and demolition," stated Philippe Germain, President of ROI. "The Kitimat region of British Columbia is experiencing strong economic development due to the growth of liquefied natural gas projects in the area. Our plans to develop the land and construct 84 apartments and nine townhouses will play a crucial role in ensuring there is adequate housing to support the population increase in the region."
The offering, which the Company closed on May 8th, 2015, is comprised of two series of notes: Series A for aggregate proceeds of $2,442,830 and Series B for aggregate proceeds of $473,117. The notes are due May, 2018, bear interest of 8% and are collateralized by a secured interest in the Kitimat property. Computershare is acting as the independent collateral agent for the investors and paying agent for the debtholders.
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 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
KCSA Strategic Communications
Jeffrey Goldberger / Brad Nelson
+1-212-896-1249 / +1-212-896-1217
jgoldberger@kcsa.com / bnelson@kcsa.com
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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.
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