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Press release from Marketwire

Genesis Land Development Corp. (TSX:GDC)

Wednesday, May 09, 2012

Genesis Land Development Corp. (TSX:GDC)13:57 EDT Wednesday, May 09, 2012TORONTO, ONTARIO--(Marketwire - May 9, 2012) -NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATESGarfield Mitchell ("Securityholder") announced today that he has filed an early warning report dated May 8, 2012 advising of the purchase of common shares of Genesis Land Development Corp. ("Genesis") (TSX:GDC).On January 12, 2012, the Securityholder acquired ownership and control of 1,050,000 common shares of Genesis representing approximately 2.36% of the outstanding shares of Genesis on that date (the "January Transaction"). On April 10, 2012 the Securityholder acquired an additional 330,500 common shares of Genesis which, together with shares acquired after January 12, 2012, represented an additional 2.18% of the outstanding common shares of Genesis.Immediately after the January Transaction, the Securityholder beneficially owned and controlled common shares of Genesis representing approximately 10.02% of the issued and outstanding Common Shares as at that date. Immediately after the April Transaction, the Securityholder beneficially owned and controlled common shares of Genesis representing approximately 12.15% of the issued and outstanding shares of Genesis. As at the date hereof, the Securityholder beneficially owns and controls 5,600,635 common shares of Genesis representing 12.54% of the outstanding shares of Genesis.The Securityholder acquired the securities for investment purposes and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over securities of Genesis.This news release is being issued under the early warning provisions of Canadian provincial securities legislation.FOR FURTHER INFORMATION PLEASE CONTACT: Kevin O'ConnorSpinnaker Capital Markets Inc.416.962.3300