Emergia Inc. announce that it has its previously announced potential acquisition of a land of approximately 100 acres in Alliston, Ontario for a purchase price of $14.4 million (excluding closing costs and a reserve for interests and pre-development costs). The acquisition of the land was done at arm's length and the purchase price was paid as follows: (i) $9,600,000 in cash and (ii) $4,800,000 in Class A shares of the Corporation at the issuance price of $1.00 per share of which 300,000 have been issued and 4,500,000 are reserved for issuance upon receipt of the allocation of such shares between the vendors. To satisfy a portion of the purchase price, the Corporation entered into a financing of $9,000,000 at an interest rate of 6% per year payable at maturity on March 10, 2023, plus a participation in the profits of the project. 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.