WESTPHALIA DEV. CORP.

Westphalia Dev. Corp. is a Canadian corporation formed in March 2012 for the development of a 310-acre Westphalia property located in Prince George's County, Maryland, United States. The Corporation is the shareholder of the largest co-owner of the Westphalia Town Center in Prince George’s County, Maryland. The company's objective is to develop and ultimately sell parcels of the land to residential and commercial builders and end users. The Corporation is managed by Walton Global. The CCAA process provided an opportunity to prepare and file a plan of arrangement and compromise for consideration by the Corporation’s creditors and other stakeholders with respect to the restructuring of the Corporation. The Corporation has emerged from CCAA proceedings and is a private Corporation. The Westphalia Interchange TIF project located at the intersection of Pennsylvania Avenue (Route 4) and Woodyard Route (Route 223) is substantially complete. The Presidential Parkway East TIF project is substantially complete. The Presidential Parkway West TIF project has work remaining. The Manager has received multiple purchase offers for Parcels A & B. The Manager has completed Purchase and Sale Agreements for Parcels F, N, and M totaling approximately 50 acres. The Corporation intends to promptly submit an application to cease to be a reporting issuer to the relevant Canadian securities authorities.