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NexLiving Announces Closing of First Tranche of Private Placement Offering
NexLiving Announces Closing of First Tranche of Private Placement Offering Cana...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n \n \n \n NexLiving Announces Closing of First Tranche of Private Placement Offering\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 HALIFAX, NS\n \n ,\n \n Dec. 1, 2021\n \n /CNW/ - (TSXV: NXLV) NexLiving Communities Inc. (\"NexLiving\" or the \"Company\") is pleased to provide an update on the previously announced non-brokered private placement (the \"Private Placement\"). The Company has closed on the first of two tranches and has issued 17,250,000 common shares at a price of\n \n $0\n \n .20 for gross proceeds of\n \n $3,450,000\n \n . The Company expects to complete the second tranche within the next 45 days, which is expected to result in an additional\n \n $1,000,000\n \n of proceeds at the same terms. Shares issued pursuant to the Private Placement are subject to a four-month hold period. Closing of the Private Placement is subject to a number of conditions, including the approval of the TSX Venture Exchange.\n \n \n \n \n \n \n \n \n \n NexLiving intends to direct the proceeds towards debt repayment, general corporate purposes and potential future acquisitions. In connection with the first tranche of the Private Placement, the Company has paid a finder's fee of\n \n $30,000\n \n .\n \n \n For more information about NexLiving, please refer to our website at\n \n www.nexliving.ca\n \n and our public disclosure at\n \n www.sedar.com\n \n .\n \n \n \n About the Company\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, 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 ...