HALIFAX,
NS, Oct. 21, 2024 /CNW/ - (TSXV: NXLV) –
NexLiving Communities Inc. ("NexLiving" or the "Company") is
pleased to announce its Board committee composition, following the
appointment of four new directors as part of the Devcore
Transaction, which closed on August 30,
2024.
The Audit Committee will be chaired by Mike Anaka, CPA, ICD.D, and will include
Rick Turner, ICD.D and Jeff York, CPA. The Corporate Governance and
Compensation Committee will be chaired by Bill Hennessey and include JP Poulin and
Francis Pomerleau. In alignment with
best-in-class corporate governance practices, Rick Turner will transition from Vice Chair to
Lead Independent Director. Together with Jeff York as Chairman, Mike Anaka as Chair of the Audit Committee, and
Bill Hennessey as Chair of the
Governance Committee, the Board remains well-positioned to ensure
continuity and positions the Company with strong
governance and unified leadership as it enters its next phase
of growth.
NexLiving is also pleased to announce the promotion of
Ahmed Shethwala, CPA to the position
of Vice President, Finance. Mr. Shethwala joined NexLiving in 2022,
bringing valuable experience from his previous roles as an
Associate at National Bank of Canada and Senior Manager at KPMG, where he
specialized in real estate. Since joining, Mr. Shethwala has been
instrumental in the Company's financial reporting, planning, and
asset management processes. He holds a BBA from Wilfrid Laurier University.
All appointments and committee compositions were unanimously
approved by NexLiving's Board of Directors. Mr. Shethwala's
promotion to VP Finance is subject to TSX Venture Exchange
approval.
About NexLiving
NexLiving continues to execute on its plan to acquire recently
built or refurbished, highly leased multi-residential properties in
bedroom communities across Canada.
NexLiving aims to deliver exceptional living experiences to our
residents and provide comfortable, affordable housing solutions
that cater to a wide range of demographics. The properties offer a
range of modern and updated suites, with a variety of amenities and
features that allow residents to experience a hassle-free and
maintenance-free lifestyle. NexLiving is committed to investing in
its properties to ensure that they are modern and up to date. For
its recently acquired properties in Ontario, the Company has undertaken a targeted
value-add capital program to modernize and reposition the large
existing suites. The Company currently owns 2,030 units in
New Brunswick, Ontario and Quebec. 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 Board.
For more information about NexLiving, please refer to our
website at www.nexliving.ca and our public disclosure at
www.sedarplus.ca.
Forward-Looking Statements
This news release contains forward-looking information within
the meaning of applicable Canadian securities laws
("forward-looking statements"). All statements other than
statements of historical fact are forward-looking statements.
Often, but not always, forward-looking statements can be identified
by the use of words such as "plans", "expects", "is expected",
"budget", "scheduled", "projects", "estimates", "forecasts",
"intends", "continues", "anticipates", "does not anticipate" or
"believes", or variations (including negative variations) of such
words and phrases. Forward-looking statements may also state that
certain actions, events or results "may", "could", "should",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements contained in this news release include,
but are not limited to, statements regarding the closing of the
Transaction and the composition of management of NexLiving. Such
forward-looking statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations.
These forward-looking statements reflect the current expectations
of the Company's management regarding future events and operating
performance, but involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Actual events could differ
materially from those projected herein and depend on a number of
factors. These risks and uncertainties are more fully described in
NexLiving's regulatory filings, which can be obtained on SEDAR+ at
www.sedarplus.ca under NexLiving's profile, as well as under
the "Risk Factors" section of the Company's MD&A released on
August 15, 2024. Although
forward-looking statements contained in this news release are based
upon what management believes are reasonable assumptions, there can
be no assurance that the Company's actual results will be
consistent with these forward-looking statements. Accordingly,
readers should not place undue reliance on the forward-looking
statements contained in this news release. The forward-looking
statements in this new release speak only as of the date of this
news release. Except as required by applicable securities laws, the
Company does not undertake, and specifically disclaims, any
obligation to update or revise any forward-looking statements,
whether as a result of new information, future developments or
otherwise, except as required by applicable law.
SOURCE NexLiving Communities Inc.