Business
ViveRE Announces Closing of Common Share Offering for Gross Proceeds of $2.84 Million
ViveRE Announces Closing of Common Share Offering for Gross Proceeds of $2.84 Million ...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n\n\n\nViveRE Announces Closing of Common Share Offering for Gross Proceeds of $2.84 Million\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\nCanada NewsWire\nHALIFAX, April 9, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n HALIFAX, April 9, 2019 /CNW/ - ViveRE Communities Inc. (TSXV: VCOM) (\"ViveRE\" or the \"Company\") is pleased to announce that it has closed today its previously announced best efforts short form prospectus offering (the \"Offering\") of common shares (\"Common Shares\").\nA total of 14,226,834 Common Shares were sold at a price of $0.20 per Common Share for aggregate gross proceeds of approximately $2,845,367. The Offering was completed by Echelon Wealth Partners Inc. and Industrial Alliance Securities Inc. (collectively, the \"Agents\").\nA portion of the gross proceeds of the Offering will be used to finance the previously announced potential acquisition of a 42 unit, multi-family rental property located at 50 Noel Avenue, Saint John, New Brunswick (the \"Acquisition\") and the Company's expenses of the Acquisition. The Company expects the Acquisition to close in April 2019.\nThe Offering and the Acquisition are subject to TSX Venture Exchange (\"TSXV\") final acceptance of requisite regulatory filings.\nIn consideration for their services, and pursuant to the terms of an agency agreement, dated February 15, 2019, among the Agents and the Company (the \"Agency Agreement\"), the Company paid a cash commission of $97,196 and  issued to the Agents 485,980 non-transferable share purchase warrants (each, an \"Agent Warrant\"), with each Agent Warrant exercisable into one common share of the Company at an exercise price equal to $0.20 for a period of 24 months from the date hereof.\nFurther details of the Offering and the Acquisition are described in the final short form prospectus of the Company dated March 29, 2019, filed with Canadian securities regulators. A copy of the final prospectus is available under the Company's profile on...