League Assets Corp

COLWOOD CITY CENTRE LP UPDATE

Friday, September 4, 2009

Greetings Member-Partners,

Work on the Colwood City Centre continues apace. There have been several new developments on this exciting and potentially lucrative project that I want to share with you.

In anticipation of new financing, we have submitted an updated Offering Memorandum to the BC Securities Commission. We will be in further contact with you about this in the near future. At that time, your remaining bonus units will be reflected in your online account statements, and copies of the unit certificates issued.

Meanwhile, our development partner, Turner Lane Development, continues to work hard on this billion-dollar project, laying the groundwork for construction which is now expected to begin in the fourth quarter of 2010.

To carry forward our vision of building a vibrant Colwood city-centre where people have comfortable and convenient places to live, work, shop and relax, League is hiring a Vice President in charge of Residential Development for the project. Our strategy will be to focus on retail and commercial tenants in the near term as they are the easiest to finance in the current market. They will be our first tenants when we begin site development. In the longer term, we will focus on the residential side.

Residential development will begin once institutional financing is in place. Should we secure it in the short term, we will speed up residential construction.

I would like to take this opportunity to thank everyone involved in helping to make this project a success. As you know, this is a long-term investment; we expect this project could take 15 years or more to complete. As League always takes the long view, be it in our dedication to Intergenerational Wealth™, in our relationships with you, or in our making improvements to the communities in which we operate, this is not surprising.

This is an exciting project that continues to move forward. I will provide you with updates just as soon as information is available.

Kinds regards,

Emanuel Arruda's Signature

Emanuel F. Arruda, Founding Partner
League Assets Corp.
Learn, Earn, Live, Give.™

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"Continuous effort -- not strength or intelligence is the key to unlocking our potential."
- Winston Churchill -
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This document contains certain statements that may constitute forward-looking information under applicable securities laws. Forward-looking statements may be identified by the use of words like "will", "intend", "project" or comparable terminology, and by discussions of strategies that involve risks and uncertainties. Our forward-looking statements are based on our current beliefs as well as assumptions made by and information currently available to us, and relate to, among other things, local and general economic conditions, expectations regarding our ability to raise capital, our business outlook and anticipated financial performance. Neither we nor any other person assume responsibility for the accuracy and completeness of the forward-looking statements. Except as required by law, we assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

 

 

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