While I appreciate work on Modula 2, I'd like to point out that Ada (and its subset Spark with a focus on verification) already fulfills the project's goals (correctness, safety, reliability and readability).
Plus it's battle-proven (literally) and ready to use. There exists an open source version with the GNAT compiler and it's part of the GCC (and AdaCore is really into FOSS). The literature is sparse but high quality. Programs are usually of good quality and require fewer developers (compared to C++). Real-time, embedded, systems, high-integrity, concurrent, distributed programming -- it's all there. It's suitable for large, long-lived projects.