Business
NexLiving Announces Amendment to the Convertible Debentures Maturing September 30, 2021
NexLiving Announces Amendment to the Convertible Debentures Maturing September 30, 2021 ...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n \n \n \n NexLiving Announces Amendment to the Convertible Debentures Maturing September 30, 2021\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n HALIFAX, NS,\n \n Sept. 15, 2021\n \n /CNW/ - NexLiving Communities Inc. (TSXV: NXLV) (\"NexLiving\" or the \"Company\") announced today that it will be amending the terms of its\n \n September 2019\n \n convertible debentures, due\n \n September 30, 2021\n \n (the \"Debentures\"), to reflect a\n \n $0.20\n \n conversion price and an agreement by Debenture holders to convert their Debentures into equity as part of the amendment.\n \n \n \n \n \n \n \n \n \n \"This amendment allows the Company to effectively repay the convertible debenture by issuing equity in-line with market, allowing us to use our existing liquidity to capitalize on our growing pipeline of attractive acquisition opportunities.\" said\n \n Mike Anaka\n \n , CEO of NexLiving.\n \n \n All other terms of the Debentures will remain the same. The holders of the Debentures that have agreed to the amendment and the Company will enter into a debenture amending agreement addressing the amended conversion price.\n \n \n The amendment of the Debentures has been approved by the TSX Venture Exchange.\n \n \n \n About the Company\n \n \n \n NexLiving continues to execute its plans to acquire recently built or refurbished, highly leased multi-residential properties in bedroom communities across\n \n Canada\n \n . 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 and convenience amenities has led to the emergence of the 55+ active living segment. Apartments are the 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\n \n New Brunswick\n...