Consolidated Tomoka Announces Contract for Sale of 500,000 Acres of Subsurface Interests for $24 Million and a $9 Million Land Sales Contract

DAYTONA BEACH, Fla.--(BUSINESS WIRE)--Consolidated-Tomoka Land Co. (NYSE MKT: CTO) (the “Company”) today announced the execution of a purchase and sale agreement for the sale of all of its 500,000 acres of subsurface interests, and separately the execution of a purchase and sale agreement for 600 acres of the Company’s 10,500 acres of land located in Daytona Beach, Florida. On April 13, 2016 the Company entered into a purchase and sale agreement with Land Venture Partners, LLC for the sale of i