Genesis Land Development Corp. (TSX:GDC) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 2,843,166 shares, representing 5% of its issued and outstanding common shares, for CAD 8 million.

The purchase price of the Common Shares is restricted to a maximum of CAD 3 per Common Share. The repurchased shares under the bid will be cancelled. The bid will expire on December 15, 2023, or earlier of the date on which the maximum number of common shares are purchased pursuant to the bid.

As of December 13, 2022, the company had 56,863,335 issued and outstanding shares.