Wesbild Holdings Purchases 178 Acres of Land

Vancouver-based Wesbild Holdings Ltd., purchased 178 acres of land on Burke Mountain in Coquitlam, B.C., on June 3, 2003 for residential development. The lands were purchased for approximately $33 million from Land and Water BC Ltd. under a request for proposals.

Stu Wells and Peter Tolensky of Clark, Wilson in Vancouver acted for Wesbild Holdings. Barry Chase of Borden Ladner Gervais LLP acted for Land and Water BC. Irv Laskin of Lawson Lundell acted for HSBC Bank Canada, which provided the financing.