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NexLiving Communities Inc. Announces Exercise and Closing of Over-Allotment Option in Connection with its Oversubscribed Marketed Common Share Offering

NexLiving Communities Inc. Announces Exercise and Closing of Over-Allotment Option in Connection with its Oversubscribed Marketed Common Share Offering

December 09 2021

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.

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.

For further information: Michael Anaka, Chief Executive Officer, 902-440-7579; Stavro Stathonikos, President, 416-876-6617

© 2022 NexLiving Communities Inc.