Park Lawn Company Limited owns a 20% interest in the 2.9 acre parcel of land at 57 Linelle Street. Mattamy Development Corporation acquired the remaining 80% interest and the Company has entered into a joint venture with Mattamy Development Corporation for the development of the land. The proposed development plan, which has been submitted to the City of Toronto, provides for the construction of 25 town homes. The Company holds a VTB mortgage from Mattamy Finance Corporation. The Company holds 37,092 shares in Park Lawn Corporation which formed part of the repayment of the Promissory Note that was payable by Park Lawn Corporation to the Company.
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