March 19, 2018 11:50 PM ET

Real Estate Management and Development

Company Overview of Walton Edgemont Development Corporation

Company Overview

Walton Edgemont Development Corporation engages in the acquisition and development of real estate properties. It develops an area of approximately 201.5 acres located in Edgemont properties situated in southwest Edmonton, Alberta. The company was founded in 2011 and is based in Calgary, Canada.

215 – 2nd Street SW

25th floor

Calgary, AB T2P 1M4


Founded in 2011

Key Executives for Walton Edgemont Development Corporation

Chairman, Chief Executive Officer and President
Age: 48
CFO & Corporate Secretary
Compensation as of Fiscal Year 2017.

Walton Edgemont Development Corporation Key Developments

Walton Edgemont Development Corporation Receives Court Approval to Proceed with Sale of Certain Properties

Walton Edgemont Development Corporation obtained an order from the Court of Queen's Bench of Alberta approving the previously announced sale of the Corporation's interest in approximately 23.4 acres of the "Edgemont" properties located in Edmonton, Alberta pursuant to the terms of a purchase and sale agreement dated October 10, 2017 between the Corporation and Rohit Communities Inc. As previously announced, the Transaction is expected to close on November 23, 2017. The Sale Agreement contains customary terms and conditions for a transaction of this nature and represents a disposition of the majority of the real estate assets of the Corporation. Proceeds from the Transaction will be used to repay Court-ordered charges and project debt, with any surplus to be held pending further Order of the Court. Following closing of the Transaction, the Corporation will complete the remaining construction and maintenance obligations and continue to collect outstanding receivables owing to the Corporation in relation to its prior development activities.

Walton Edgemont Development Corporation Announces Entering into of Sale Agreement with Rohit Communities Inc

Walton Edgemont Development Corporation announced that it has entered into a purchase and sale agreement dated October 10, 2017 with Rohit Communities Inc. pursuant to which the Corporation has agreed to sell its interest in approximately 123.4 acres of the Edgemont properties located in Edmonton. The Sale Agreement contains customary terms and conditions for a transaction of this nature and represents disposition of the remaining real estate assets of the Corporation. Proceeds from the Transaction will be used to repay project debt, accrued liabilities and accounts payable. The Corporation is managed by Walton Asset Management L.P. and the development of the project is managed by Walton Development and Management LP, both of which are members of the Walton Group of Companies. Walton is a multinational real estate investment, planning, and development group concentrating on the research, acquisition, administration, planning and development of strategically located land in major North American growth corridors.

Walton Edgemont Development Corporation Announces Executive Changes

Walton Edgemont Development Corporation announced that Mr. Greg Pollard has been appointed to serve as a director of the corporation. Mr. Pollard has over 30 years of experience in the energy field and served as the Chief Financial Officer of Connacher Oil and Gas Limited. Mr. Pollard led Ernst & Young LLP’s Transaction Advisory Services practice in Calgary from 2008 to 2012 and previously served as Gulf Coast Transaction Advisory Services practice and market leader, as well as oil and gas industry sector leader in the Americas in Ernst & Young LLP's Houston office. The corporation also announced that concurrent with Mr. Pollard appointment, Ms. Michelle Cameron has resigned as a director of the corporation. Ms. Cameron will continue in her position as Chief Financial Officer and Corporate Secretary.

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