STUART, Fla., Nov. 18, 2020 (GLOBE NEWSWIRE) -- Neil S. Subin announced the disposition of control or direction over 1,500,000 Common Shares (the “Shares”) of Genesis Land Development Corp. (“Genesis”) representing a decrease in Mr. Subin’s securityholding percentage of approximately 3.54% of the issued and outstanding Shares. Mr. Subin disposed of the Shares through Miller Family Education and Medical Trust, Susan F. Miller Spousal Trust A-4, Lloyd I. Miller Irrevocable Trust D, Lloyd I. Miller, III Revocable Trust, LIMFAM LLC, MILFAM III LLC, Alimco Financial Corporation and MILFAM II L.P.
Following the disposition, Mr. Subin’s securityholding percentage decreased from 12.36% of the Shares as previously reported, to 8.83% of the Shares.
The transactions that resulted in the issuance of this release were completed through the facilities of the NEO Exchange for total consideration of CDN$2,819,915.
The disposition was part of Mr. Subin’s and the above entities normal investment activities. Depending on the evolution of Genesis’s business, financial condition, the market, if any, for Genesis’s securities, general economic conditions and other factors, Mr. Subin and his joint actors may acquire additional securities of Genesis or sell some or all of the securities they hold, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.
This press release is being issued pursuant to section 5.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids. For inquiries or a copy of the related early warning reports for the above-named companies, copies of which are filed on www.sedar.com, please contact:
| Neil S. Subin 2336 S.E. Ocean Boulevard Suite 400 Stuart, FL USA 34996 info@limadvisory.com |