Emergia Inc. announced that it has entered into a binding agreement to purchase a land of approximately 100 acres in Alliston, Ontario for a purchase price of $15.7 million (including closing costs and a reserve for interests and pre-development costs). The closing is expected to take place in the first quarter of 2021 and is subject to customary conditions. Zoning of the land is expected to change in the course of 2021, following which the Corporation intends to sell part of the land to a developer of single-family residences (approximately 70 acres). The remainder is intended to be developed by the Corporation in 500 multi-residential units and a proximity services strip shopping center of 50,000 to 60,000 sq. ft.