Neil S. Subin Disposes of Common Shares of Genesis Land Development Corp.

STUART, Fla., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Neil S. Subin announced the disposition of control or direction over 1,500,000 Common Shares (the "Shares") of Genesis Land Development Corp. ("Genesis") representing a decrease in Mr. Subin's securityholding percentage of approximately 3.57% of the issued and outstanding Shares. Mr. Subin disposed of the Shares through Lloyd I. Miller, III Trust A-4, Lloyd I. Miller Irrevocable Trust D, Lloyd I. Miller, III Revocable Trust, LIMFAM LLC, MILFAM III LLC, Alimco Financial Corporation and MILFAM II L.P.

Prior to the disposition, Mr. Subin disposed of control or direction over 455,900 Shares through the above entities and MBM Trust A-4. Following the disposition, Mr. Subin's securityholding percentage decreased from 16.55% of the Shares as previously reported, to 12.36% of the Shares.

The transactions that resulted in the issuance of this release were completed through the facilities of the Toronto Stock Exchange for total consideration of CDN$1,824,705.

The disposition was part of Mr. Subin's and the above entities normal investment activities. Depending on the evolution of Genesis' business, financial condition, the market, if any, for Genesis' securities, general economic conditions and other factors, Mr. Subin and his joint actors may acquire additional securities of Genesis or sell some or all of the securities they hold, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions and other relevant factors.

This press release is being issued pursuant to section 5.2 of National Instrument 62-104 ? Take-Over Bids and Issuer Bids. For inquiries or a copy of the related early warning reports for the above-named companies, copies of which are filed on www.sedar.com, please contact: