ROI Land Investments has completed on a US$3 million bond offering to accelerate its acquisition and development of land in Kitimat, British Columbia.
Commenting on the achievement, Philippe Germain, President, stated: “The proceeds will enable ROI to acquire 170 000 ft2 of land and fund initial development work, including permitting and demolition.
“The Kitimat region of British Columbia is experiencing strong economic development due to the growth of liquefied natural gas projects in the area. Our plans to develop the land and construct 84 apartments and nine townhouses will play a crucial role in ensuring there is adequate housing to support the population increase in the region.”
The offering is comprised of two series of notes: Series A for aggregate proceeds of US$2 442 830 and Series B for aggregate proceeds of US$473 117.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/21052015/roi-to-develop-land-in-british-columbia-807/