QUEBEC CITY, Jan. 24, 2014 (GLOBE NEWSWIRE) -- ROI Land Investments Ltd (OTCQB:ROII) ("ROII or the "Company") (OTCBB:ROII), an emerging developer of residential real estate project in the fast growing Canadian province of Quebec, has today announced that it has executed a Letter of Intent ("LOI") for the acquisition of a 211 unit residential development project based in Beauport, Quebec, Canada ("The Beauport/Cambert Project" or "the Project"). The demographics of Beauport, Quebec include a population of 80,000 people and the city itself is a suburb of Quebec City, Canada. This transaction inclusive of the development project represents the first land acquisition in the history of the Company.
"The Company is very pleased about the value proposition and prospects of this initial opportunity," commented Patrick Bragoli, CEO of ROI Land Investments, Ltd. "This transaction is clearly the first important step in our corporate development, and provides shareholders with a strategic development project in the Quebec City greater metropolitan area. Quebec City has demonstrated a solid economy where the unemployment rate is very low and the economic growth has been stable since 2009."
The Beauport/Cambert Project is the only low density residential project planned in Beauport for the next 10 years, and should be developed in the next three years. The Beauport sector experience a high demand in the Quebec City area, and there was a 6.45% total population growth in the 2003-2011 period. This compares to a 5.87% growth for the Province of Québec and a 4.46% growth for Canada over the same period, according to Statistics Canada.
The appraisal value for the Beauport/Cambert land development Project has been estimated at $9,000,000 Canadian ($), according to an independent evaluation conducted by the Group Altus., a world renowned independent appraisal and consulting firm (http://www.altusgroup.com).
The Company will continue to update shareholders, via press releases, when additional material events occur. In the meantime the Company and its management are presenting to a number of bank and institutional investors to capitalize on the above-mentioned opportunity as well as others that may arise.
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.
Forward-Looking Statements
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The words "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "would," "potential" and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our SEC filings and the following: the current global economic downturn and capital market weakness; the speculative nature of land development, obtain necessary financing or refinancing or restructure indebtedness or our debt service obligations on acceptable terms or at all; potential dilution to our stockholders from our recapitalization and balance sheet restructuring activities; potential inability to continue to comply with government regulations; adoption of or changes in legislation or regulations adversely affecting our businesses; business opportunities that may be presented to or pursued by us; changes in the United States or other monetary or fiscal policies or regulations in response to the recent capital markets and economic crises; changes in generally accepted accounting principles; geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues organically; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies and equipment raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. We undertake no obligation to publicly update or revise any forward-looking statement. Neither this press release nor any related calls or discussions constitutes an offer to sell or the solicitation of an offer to buy any securities.
For more information please visit our website: www.roilandinvestments.com