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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 Con...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n \n \n \n NexLiving Communities Inc. Announces Exercise and Closing of Over-Allotment Option in Connection with its Oversubscribed Marketed Common Share 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n HALIFAX, NS\n \n ,\n \n Dec. 9, 2021\n \n /CNW/ -\n \n NexLiving Communities Inc.\n \n (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\n \n $2,637\n \n ,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\n \n $0.20\n \n per share, which closed on\n \n November 26, 2021\n \n (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\n \n $4,450,000\n \n non-brokered private placement amount to\n \n $27,087,400\n \n .\n \n \n \n \n \n \n \n \n \n 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\n \n November 19, 2021\n \n , among the Agents and the Company (the \"Agency Agreement\"), the Company has paid a cash commission of\n \n $151,650.50\n \n .\n \n \n Further details of the Offering and the Over-Allotment O...