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DISSEMINATION IN THE UNITED
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HALIFAX, NS, Dec. 9, 2021 /CNW/ - NexLiving
Communities Inc. (TSXV: NXLV) (the "Company") announced
today that the Agents (as defined below) of its previously
announced marketed public offering of common shares have exercised
their over-allotment option resulting in the issuance of an
additional 13,187,000 common shares for gross proceeds of
$2,637,400 (the "Over-Allotment
Option"). The Over-Allotment Option was granted in connection with
the public offering of 100,000,000 common shares at an offering
price of $0.20 per share, which
closed on November 26, 2021 (the
"Offering"). With the exercise and closing of the Agents'
Over-Allotment Option, the total combined gross proceeds from the
Offering, the Over-Allotment Option and both tranches of the
previously announced $4,450,000
non-brokered private placement amount to $27,087,400.
![NexLiving Communities Inc. Logo (CNW Group/NexLiving Communities Inc.) NexLiving Communities Inc. Logo (CNW Group/NexLiving Communities Inc.)](https://mma.prnewswire.com/media/1706589/NexLiving_Communities_Inc__NexLiving_Communities_Inc__Announces.jpg)
The Over-Allotment Option was completed by Echelon Capital
Markets and CIBC Capital Markets as co-lead agents and
co-bookrunners, on behalf of a syndicate of agents including
Cormark Securities Inc., Desjardins Securities Inc., Scotia Capital
Inc., Canaccord Genuity Corp., iA Private Wealth Inc. and
Richardson Wealth Limited (collectively the "Agents"). In
consideration for their services in connection with the
Over-Allotment Option, and pursuant to the terms of an agency
agreement, dated November 19, 2021,
among the Agents and the Company (the "Agency Agreement"), the
Company has paid a cash commission of $151,650.50.
Further details of the Offering and the Over-Allotment Option
are described in the final short form prospectus of the Company
dated November 19, 2021 (the
"Prospectus"), filed with Canadian securities regulators. A copy of
the Prospectus is available under the Company's profile on the
SEDAR website at www.sedar.com.
The common shares subject to the Offering have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act") and may not be offered or sold
in the United States absent
registration under or an applicable exemption from the registration
requirements of the U.S. Securities Act. This press release does
not constitute an offer to sell or the solicitation of an offer to
buy the shares herein described, and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that
jurisdiction.
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.