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Press release from CNW Group


Tuesday, November 23, 2010

GENESIS WELCOMES NEW ADDITIONS TO THE BOARD OF DIRECTORS19:11 EST Tuesday, November 23, 2010CALGARY, Nov. 23 /CNW/ - Genesis Land Development Corp. (TSX-GDC), ("Genesis" or the "Company"), is pleased to welcome Mr. Yazdi Bharucha and Mr. Steven Glover to the Board of Directors.Yazdi Bharucha, of Toronto, is a Chartered Accountant and the former CFO of Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), which is one of Canada's largest owners of multi-family rental communities. Mr. Bharucha's previous experience includes, Vice President and Controller of MPI Group Inc, a real estate investment and development company. He has also held the position of Controller of MICC Properties Inc., a real estate investment and development company and was previously responsible for financial planning, accounting, reporting and management of real estate operations with Guaranty Properties Limited, a subsidiary of Guaranty Trust Company of Canada. Currently, Mr. Bharucha is enrolled in the Directors Education Program at the Rotman School of Management. Mr. Bharucha's extensive experience in all aspects of real estate, including land development, will be an invaluable asset to Genesis.Steven Glover, of Canmore, is a Fellow of the Chartered Accountants, currently serving as Vice-President, Finance and Chief Financial Officer of Western Plains Petroleum and KDC Energy Ltd., both listed on the TSX Venture Exchange. He is currently a member of the board of directors, and Chair of the Audit Committee of an Alberta crown corporation, Travel Alberta. Mr. Glover also served as the Executive Director of the Institute of Chartered Accountants of Alberta from 1984 to 2005. His extensive board and governance experience includes chairing the Audit Committees for the Caritas Health Group and the Edmonton Community Foundation and is a past member of the board of the Edmonton Concert Hall Foundation. From 1998-99, he served as President of the Edmonton Downtown Rotary Club.Considerable progress has been made by Genesis' Management and staff over the past year. The Management team has strengthened operations and realized record profits while at the same time improving the balance sheet. The enhanced Board of Directors will work with Management to ensure that Genesis continues to build upon the progress to date.About Genesis Land Development Corp.Genesis Land Development Corp. is a Calgary based land development company with an estimated inventory of more than 28,000 future residential building sites (single-family and multi-family) and over 1,000 acres of commercial/industrial lands in Western Canada, of which more than an estimated 14,000 residential lots and over 530 acres of commercial/industrial lands are in the Calgary and Edmonton metropolitan areas.For more information about Genesis, visit Genesis' website at further information: Contact:   Gobi Singh C.E.O., Genesis Land Development Corp. Tel: (403) 265-8079, Toll Free: 1-800-341-7211, Fax: (403) 266-0746 E-Mail: Internet: