NexLiving Communities Inc. Commences Trading Under the Trading Symbol “NXLV”, Stavro Stathonikos Joining Executive Leadership Team as PresidentJune 01 2021
Halifax, Nova Scotia, Canada – June 1, 2021 – NexLiving Communities Inc. (TSX.V: NXLV) (“NexLiving” or the “Company”) commenced trading on the TSXV under the trading symbol “NXLV” today. The Company previously announced that it was changing its name from ViveRE Communities Inc. to NexLiving Communities Inc. and its trading symbol from “VCOM” to “NXLV”. There is no change in the share capital of the Company. The Company’s new CUSIP number is 65344P102 and its new ISIN number is CA65344P1027. There is no further action required by shareholders with respect to the name change. The Company’s website is www.nexliving.ca.
“Over the past year we have grown our portfolio of properties to over 500 units, providing the “next home” to a number of active living residents. We remain focused on increasing our presence in, and consolidating, the active living multi-family property segment across Canada and providing the “next homes” to the large and growing active living demographic” said Michael Anaka CEO of NexLiving.
As NexLiving advances to the next stage of its development, the Company is pleased to announce that it is strengthening its executive leadership team with the addition of Stavro Stathonikos in the role of President, effective June 14, 2021. Stavro is joining NexLiving from CIBC Capital Markets where he was most recently Executive Director, Institutional Sales. He has over 15 years of capital markets experience in a capital raising and M&A capacity. Stavro will be based in Toronto and his diverse capital markets experience, including his involvement in numerous real estate transactions, will be instrumental in driving the Company’s success.
“We are extremely pleased to have a real estate and capital markets professional of Stavro’s calibre join the NexLiving team. His skillset is complementary to our current executive team and will allow us to immediately focus on growing our portfolio of 55+ active living properties in bedroom communities throughout Ontario.” said Michael Anaka, CEO.
About NexLiving Communities Inc.
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 over 500 units in New Brunswick and Ontario. NexLiving has also developed a robust pipeline of qualified properties for potential acquisition. By screening properties identified to match the criteria set out by the Company (proximity to healthcare, amenities, services and recreation), management has identified a significant pipeline of potential acquisitions for consideration by the Company’s Board of Directors.
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 “aims”, “intends”, “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, and are necessarily based on a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. 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.
Forward-looking information in this news release includes expectations relating to: the pipeline for future acquisitions which may be impacted by NexLiving’s ability to negotiate suitable terms, due diligence, access to capital and market conditions; operating results which may be impacted by unexpected vacancies and maintenance expenses; availability of capital which may be impacted by capital market and borrowing conditions.
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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
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Chief Executive Officer