HALIFAX, NS, Dec. 1, 2021 /CNW/ - (TSXV: NXLV) NexLiving
Communities Inc. ("NexLiving" or the "Company") is pleased to
provide an update on the previously announced non-brokered
private placement (the "Private Placement"). The Company has closed
on the first of two tranches and has issued 17,250,000 common
shares at a price of $0.20 for
gross proceeds of $3,450,000. The Company expects to
complete the second tranche within the next 45 days, which is
expected to result in an additional $1,000,000 of proceeds at the same terms. Shares
issued pursuant to the Private Placement are subject to a
four-month hold period. Closing of the Private Placement is subject
to a number of conditions, including the approval of the TSX
Venture Exchange.
NexLiving intends to direct the proceeds towards debt repayment,
general corporate purposes and potential future acquisitions. In
connection with the first tranche of the Private Placement, the
Company has paid a finder's fee of $30,000.
For more information about NexLiving, please refer to our
website at www.nexliving.ca and our public disclosure at
www.sedar.com.
About the Company
NexLiving continues to execute
its plans to acquire recently built or refurbished, highly leased
multi-residential properties in bedroom communities across
Canada. The Company aims to
satisfy the needs of the newly emerging 55+ resident. The
demographic that has changed the world is now changing the way
residential rental apartments cater to their requirements. Their
desire for community, along with service, quality and convenience
has led to the emergence of the 55+ active living segment.
Apartments are their next "home", after years of owning they look
forward to the carefree lifestyle provided through renting in a
community of their peers. NexLiving intends to consolidate this
emerging market niche. The Company currently owns 549 units in
New Brunswick and Ontario. NexLiving has also developed a robust
pipeline of qualified properties for potential acquisition. By
screening the properties identified to match the criteria set out
by the Company (proximity to healthcare, amenities, services and
recreation), management has assembled a significant pipeline of
potential acquisitions for consideration by the Company's Board of
Directors.
Forward-Looking Statements
This news release contains
forward-looking statements relating to the future operations of
NexLiving and other statements that are not historical facts.
Forward-looking statements are often identified by terms such as
"will", "may", "should", "anticipate", "expects" and similar
expressions. All statements other than statements of historical
fact, included in this release, including, without limitation,
statements regarding the future plans and objectives of NexLiving
Communities Inc, are forward-looking statements that involve risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from NexLiving Communities Inc.'s expectations include
other risks detailed from time to time in the filings made by
NexLIving Communities Inc. with securities regulators.
The reader is cautioned that assumptions used in the preparation
of any forward-looking information may prove to be incorrect.
Events or circumstances may cause actual results to differ
materially from those predicted, as a result of numerous known and
unknown risks, uncertainties, and other factors, many of which are
beyond the control of NexLiving Communities Inc. The reader is
cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and NexLiving Communities Inc.
will only update or revise publicly the included forward-looking
statements as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
SOURCE NexLiving Communities Inc.