HALIFAX,
NS, June 9, 2022 /CNW Telbec/ -
(TSXV: NXLV) – NexLiving Communities Inc.
("NexLiving" or the "Company") announced today that its
shareholders voted in favour of all items of business brought
before them at the Company's annual and special meeting of
shareholders held on June 8,
2022.
Following the meeting, Mr. Michael
Anaka has transitioned from his role as Chief Executive
Officer to Executive Vice Chair of the Board. Mr. Anaka has led the
growth of the Company, from its initial acquisition in 2018, to its
current real estate portfolio comprising over $150 million of highly leased multi-residential
properties and will continue to be an active part of the NexLiving
executive team.
NexLiving has announced the promotion of the Company's
President, Mr. Stavro Stathonikos to
Chief Executive Officer. Mr. Stathonikos has been President of
NexLiving since June 2021 and shall
continue to serve the Company as President and CEO.
Michael Anaka, Executive Vice
Chair, commented: "Over the past year, Stavro has been instrumental
in the growth and success of our company. He is ideally suited to
lead NexLiving into the next phase of its growth, transitioning
from a real estate start up, to a high-growth real estate
corporation, targeting highly leased multi-residential properties
in bedroom communities. I look forward to continuing to work with
the NexLiving team and Stavro, in his new role as Chief Executive
Officer."
The Company also announced today that its shareholders voted in
favour of the seven nominees to the Board of Directors (the
"Board"), Michael Anaka, William
Hennessey, Andrea Morwick,
Drew Koivu, David Pappin, Dr. Brian
Ramjattan and Richard Turner.
The Company would like to thank retiring directors Jeffrey Dean and Kent
Farrell for their many contributions during their formal
tenure on the Board. Mr. Dean will remain in an observer role at
the Board level going forward.
Andrea Morwick, Managing Director
of Investment Banking at Canaccord Genuity, joins the Board for her
first term. Andrea Morwick has over
two decades of Capital Markets experience including investment
banking, sales and trading, and investment management. Andrea is a
leader in corporate employee development and engagement initiatives
and is an active member of Women in Capital Markets, where she was
the recipient of their 2015 Executive Coaching Award Program.
Andrea is a member of Women Get on Board (WGOB) and is a
certificate holder of the Getting Board Ready Program.
PricewaterhouseCoopers LLP was re-appointed as the Company's
auditor to hold office until the next annual meeting of
shareholders, or until its successor is duly appointed, at a
remuneration to be fixed by the Board.
In addition, the amended and restated equity incentive plan of
the Company (the "Plan") was ratified and approved. The aggregate
number of common shares reserved for issuance under the Plan cannot
exceed 10% of the number of issued and outstanding common shares of
the Company. The shareholders also approved a resolution to amend
and restate the deferred share unit plan of the Company (the "DSU
Plan"). The aggregate number of deferred share units reserved for
issuance under the DSU Plan is 10,000,000, subject to customary
adjustments. More information on the Plan and the DSU Plan, include
a copy of both plans, is available in the Company's management
information circular dated May 6,
2022, filed on SEDAR.
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 827 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 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", or "does not anticipate" or
"believes" or variations (including negative variations) of
such words and phrases, or 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 management's expectations of additional rental
increases to come into effect by year end and the further
enhancement of the Company's financial results. 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 regulatory filings,
including the Company's Annual Information Form, which can be
obtained on SEDAR at www.sedar.com, under NexLiving's profile,
as well as under Risk Factors section of the MD&A released on
April 18, 2022. Although
forward-looking statements contained in this new release are based
upon what management believes are reasonable assumptions, there can
be no assurance that actual results will be consistent with these
forward-looking statements. Accordingly, readers should not place
undue reliance on forward-looking statements. 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.
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.