QUEBEC CITY, Quebec, Sept. 12, 2014 (GLOBE NEWSWIRE) -- ROI Land Investments, Ltd. (OTCQB:ROII) ("ROI" or the "Company"), announced today that the closing of the "Beauport/Cambert Project" has been scheduled for October 1, 2014. All funds necessary for the closing are currently in escrow. The execution of the original definitive agreement for the acquisition was announced earlier on March 27, 2014. This acquisition will represent ROI's first multi-million dollar land acquisition. The Beauport/Cambert Project is a residential development project located in Beauport, Quebec, Canada containing 1,971,000 Sq. Ft. Full development of the project is expected within the next three years. The Beauport/Cambert Project is the only low-density residential project planned in Beauport, Quebec for the next 10 years. Beauport is a suburb of Quebec City, Canada, with an overall population of 600,000 people. There was a 6.45% total population growth in the 2003-2011 period in Beaufort, compared to 5.87% growth for the Province of Quebec and a 4.46% growth for Canada over the same period, according to Statistics Canada.
The Beauport/Cambert Project has been objectively appraised at $8,200,000 Canadian, according to the independent evaluation conducted by the Group Altus, a world-renowned independent appraisal and consulting firm (http://www.altusgroup.com).
Mr. Philippe Germain, President, stated: "We are very pleased to announce the schedule of the closing of this major acquisition. We want to thank our investor and shareholders as well as the team of professionals working with us. This acquisition positions our Company for continued success and growth."
The Company continues evaluating other land acquisition opportunities within the provinces of Quebec and British Columbia, Canada as well as other international locations. Management will continue to update shareholders via SEC filings and press releases as additional material events occur.
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.
SAFE HARBOR AND INFORMATIONAL STATEMENT This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; and (iii) the company's growth strategy and operating strategy.
The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements, as a result of various factors including the risk disclosed in the company's statements and reports filed with the SEC. The Company claims the safe harbor provided by Section 21E(c) of the Exchange Act for all forward-looking statements.
For more information please visit our website: www.ROILandInvestments.com
CONTACT: Philippe Germain, President. T: +1 (514) 667 9470 M: +1 (418) 264 7134 Email: PGermain@ROILandInvestments.com
Source:ROI Land Investments, Ltd.