12:00 PM EST, 02/04/2025 (MT Newswires) -- Greenbriar Sustainable Living ( GEBRF ) , up 43% on last look, on Tuesday said

sealed a deal to acquire the 1,361-acre Cordero Ranch project in Cedar City, Utah.

Tommy Sullivan, who chairs Greenbriar's real estate advisory board and is an investor in Greenbriar, purchased the Cordero Ranch property in 2002. The property was annexed into the city in 2008 in exchange for Sullivan gifting adjudicated water rights to the city. A year later, the city executed a Master Plan Development Agreement for Cordero Ranch, approving and authorizing the construction of 6,726 homes and with the city providing full water, sewer and ancillary services.

The company has engaged Watson Engineering, who will prepare a revised Master Plan that will augment the original plan with a new south campus space for Southern Utah University, and include retail, offices, married student housing, and small sustainable entry-level homes.

Greenbriar expects the approval process to last six months.

The company's shares were last seen up $0.22 to $0.73 on the TSX Venture Exchange.

Price: 0.73, Change: +0.22, Percent Change: +43.14