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CALGARY, Alberta–(BUSINESS WIRE)–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 Partnership’s 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 management’s
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.

Contacts

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