ROI LAND INVESTMENTS LTD. (OTCMKTS:ROII) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM 5.02 ROI Land Investments Announces an Additional Investment
in Colorado-Update on Global Project Portfolio
Montreal, Quebec, Canada, May 8, 2017 ROI Land
Investments Ltd. (ROI or the Company) announces an additional
US$1.53 M investment in its Evans project in Colorado, USA. This
investment decision stems from a comprehensive review of the
Companys project portfolio. The Company also provides an update
on the status of each of its ongoing investment projects.
Hill Pond Property Project, Evans, Colorado, USA
In April 2017, ROI invested an additional US$1.53 M the Evans
project in Colorado Project to bring the total investment to date
to US$5.85 M. The forecast for the Hill Pond Property is between
1200 and 1400 units. The Company has secured enough water shares
to execute the project, and the appropriate zoning is in place.
ROI is currently taking the necessary steps for the development
and approval of the engineering infrastructure master plan, the
lot entitlements, as well as the construction permit from the
Town of Evans.
British Columbia Project, Canada
When the land was acquired, the Western Canada oil and gas
industry was flourishing. Prices were high, and major investment
projects were announced, including one for the export of
liquefied natural gas (LNG). The Company had entered into an
agreement with the proponent of this project to construct
residential buildings for their staff. Subsequently, market
conditions deteriorated, prices fell and projects were postponed.
Therefore, ROI has earmarked this land in British Columbia
capital reserve for the Company until market conditions are
favourable to restart large-scale projects.
Sobha Project, United Arab Emirates
After a careful review of its initial investment in the Sobha
Project, ROI has decided not to carry on with the development of
this project. The Company has been actively pursuing reaching
a definitive agreement with a leading UAE Group
specialized in real estate to transfer the ownership of the land,
subject to approval from regional regulatory authorities.
Beauport Project, Quebec, Canada
Given the evolution of residential needs in Quebec City, the land
acquired in 2014 in the borough of Beauport has a good potential
for low-density residential development because of its location
and the economic vitality of the metropolitan area. The
development of the project is currently at the stage of municipal
permits.
Over the past few months, we have reviewed the ROI Land
Investments development and financing strategy as well as the
development program for each of our ongoing projects. Based on
this analysis, we made the most appropriate decisions for each of
the projects in the best interests of the Company and our
shareholders. The Canadian market being less predictable, we will
focus our efforts in Colorado because the regional economy has
experienced sustained growth for several years. In addition, the
Evans Project is evolving in accordance with our plan, says Sami
B. Chaouch, Executive Chairman and CEO. We will also seek new
attractive investment opportunities in the US market.
About ROI Land Investments Ltd.
ROI Land Investments (ROI) participates in the early stages of
real estate development. The Company acquires raw land free of
zoning restrictions in locations positioned to benefit from
unique economic catalysts. ROI also manages the permitting
process, oversees the construction of infrastructure and works
closely with established developers to bring projects to
completion. The Company has projects underway in North America
and the UAE.
www.roilandinvestments.com
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information,
including all statements that are not statements 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 companys financing plans; (ii) trends
affecting the companys financial conditions or results of
operations; (iii): the companys growth strategy and operating
strategy; and (iv) the declaration and payment of dividends.
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 companys 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 companys
statements and reports filed with the OTC Markets.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description | |
| 99.1 | Press Release, dated May 8, 2017. |
About ROI LAND INVESTMENTS LTD. (OTCMKTS:ROII)
ROI Land Investments Ltd. is a land development company that owns and operates businesses in the land development industry. The Company’s business model consists of acquiring land free of zoning restrictions, obtaining the necessary permits, outsourcing developments of the infrastructure and profiting from the sale of the subdivided land units to established residential and commercial building developers. Its real estate projects in development include Beauport, Quebec City; Terrace, British Columbia; Kitimat, British Columbia; Louisette, France; Evans, Colorado, and Sobha Hartland, Dubai. It owns approximately three properties in Terrace. The Evans project features a mix of housing units, including single family homes, town homes, duplexes and condos. The Sobha Hartland project features three, eight-story buildings for a total of approximately 300 units. Each building offers Dubai residents with a range of housing options. ROI LAND INVESTMENTS LTD. (OTCMKTS:ROII) Recent Trading Information
ROI LAND INVESTMENTS LTD. (OTCMKTS:ROII) closed its last trading session 00.0000 at 0.0500 with 50,100 shares trading hands.