Mr. Iain Stewart reports

GENESIS DECLARES A SPECIAL DIVIDEND OF $0.085

Genesis Land Development Corp. has declared an unconditional special cash dividend of 8.5 cents per common share, or $4.8-million in aggregate, payable on June 12, 2023, to shareholders of record on May 26, 2023.

Eligible dividend designation

Pursuant to subsection 89(14) of the Income Tax Act (Canada) the dividend qualifies as an eligible dividend for Canadian federal income tax purposes.

About Genesis Land Development Corp.

Genesis is an integrated land developer and residential home builder with a strategy to grow its portfolio of well-located, entitled, and unentitled primarily residential lands and serviced lots throughout the Calgary metropolitan area.

We seek Safe Harbor.