Business
ViveRE Communities Inc. Provides Strategic and Business Update
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED S...
About this update from Nexliving Communities Inc
[{"type":"text","content":"ViveRE Communities Inc. Provides Strategic and Business UpdateNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESHALIFAX, NS / ACCESSWIRE / January 21, 2019 / ViveRE Communities Inc. (TSX-V: VCOM) (the ''Company'') continues to execute its plans to acquire recently built or refurbished, highly leased multi-residential properties in secondary markets 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 and convenience amenities has led to the emergence of the Naturally Occurring Retirement Community or ''NORC''. 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. ViveRE Communities Inc. intends to consolidate this emerging market niche. After the acquisition of 41 Noel Avenue, Saint John, NB, the Company has developed a robust pipeline of qualified properties for potential acquisition. Screening properties identified to match the criteria set out in the Company business plan (proximity to healthcare, amenities, services and shopping). Management has identified a number of attractive targets for consideration by the Board. The Company intends to acquire in excess of 400 units in the coming twelve months. Shares for Debt and ServicesThe company, in accordance with the terms of TSX Venture Exchange (''Exchange'') Policy 4.3 Shares for Debt, intends to issue 1,193,037 common shares of the Company at a deemed price of $0.12 per share to settle outstanding debt owed to non-arms length parties in the amount of $143,164.74 owed to various creditors of the Company for consulting fees for management services. This issuance of common shares for debt is subject to the approval of the TSX Venture Exchange, disinterested shareholder approval and any other required regulatory approval.The Company also intends to issue common shares of the Company to a number of officers, directors and consultants for ongoing services pursuant to consulting agreements between the Company and each of Trimaven Capital Advisors, Dr. Brian Ramjattan, THLA Services Ltd and Aconi Financial Corp Ltd (the ''Consultant...