Smoothwater Capital and Genesis settle proxy contest issues

On August 19, 2013, Smoothwater Capital Corporation and Genesis Land Development Corp. announced the settlement of their issues relating to the board of directors and management of Genesis, thereby bringing an end to Smoothwater Capital’s proxy contest. Smoothwater Capital is a Toronto-based firm that focuses on investing its own capital in small to mid-cap Canadian public companies where there is an identifiable path to significantly improve share value. Genesis is a Calgary-based real estate development corporation. Stephen Erlichman of Fasken Martineau advised Smoothwater Capital in negotiating the settlement.