Walton Big Lake Development L.P. Announces Appointment of New Chief Financial Officer and Provides Corporate Update

Walton Big Lake Development L.P. (the Partnership) is pleased to announce that Mr. Neil Narfason has been appointed Chief Financial Officer and Corporate Secretary of its general partner, Walton Big Lake Development Corporation (the GP) effective May 15, 2019. Mr. Narfason is also the Chief Financial Officer of Walton Global Investments Ltd. (“WGI“), having served in that capacity since January 2, 2019. Before joining the Walton Group of Companies (“Walton“), Mr. Narfason was a Partner of Ernst & Young LLP for the past 15 years and prior thereto, he was a Partner with Deloitte LLP, two of the world’s largest accounting firms. Mr. Narfason has over 30 years of experience in mergers and acquisitions, financial analysis, financial modeling, corporate financing and restructuring.

The Partnership also announces Mr. Michael Maier has resigned as Chief Financial Officer and Corporate Secretary of the GP. Mr. Maier will continue to serve as Executive Vice-President of WGI. The board of directors thanks Mr. Maier for all his contributions.

Corporate Update

The Partnership announces the revocation of the cease trade order (“CTO“) previously issued by the Alberta Securities Commission and the Ontario Securities Commission (the “Commissions“) on May 6, 2019, and disclosed in the Partnerships press release dated May 13, 2019. The CTO was issued as the Partnership did not file its financial statements for the fiscal year-ended December 31, 2018, the related managements discussion and analysis and its officer certifications for the fiscal year-ended December 31, 2018 (collectively, the “Annual Filings“) by April 30, 2019. The Partnership rectified the continuous disclosure default and completed the filing of its Annual Filings on May 13, 2019, and the Commissions revoked the CTO on May 16, 2019 as a result of the filings.

Additional Information

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.

Its communities are comprehensively designed in collaboration with local residents for the benefit of community stakeholders. Its goal is to build communities that will stand the test of time: hometowns for present and future generations.

For more information about Walton Big Lake Development L.P., please visit www.sedar.com. For more information about Walton, visit www.Walton.com. For information about Hawks Ridge at Big Lake visit www.hawksridge.ca.

This news release, required by Canadian laws, does not constitute an offer of securities, and is not for distribution or dissemination outside Canada. This news release contains forward looking information, and actual future results may differ from what is disclosed in this news release. The risks, uncertainties and other factors that could influence results are described in the prospectus and other documents filed with Canadian securities regulatory authorities and available online at www.sedar.com.

For media inquiries, please contact:
Camila Roncancio
Office:
1.866.925.8668
Email: [email protected]