Business
ViveRE Communities Provides Business Update
ViveRE Communities Provides Business Update Canada NewsWire HALIFAX, Aug. 1, 201...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n\n\n\nViveRE Communities Provides Business Update\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\nCanada NewsWire\nHALIFAX, Aug. 1, 2019\n\n\n\nHALIFAX, Aug. 1, 2019 /CNW/ - ViveRE Communities Inc. (TSXV: VCOM) (\"ViveRE\" or the \"Company\") provides the following business update.\n\n \n \n\n \nViveRE's plan to acquire recently built or refurbished, highly leased multi-residential properties in bedroom communities across Canada continues to advance. 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 to the carefree lifestyle provided through renting in a community of their peers. ViveRE Communities Inc. intends to consolidate this emerging market niche across the Country.  After the acquisitions of 41 and 50 Noel Avenue, Saint John, New Brunswick, 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.  41 and 50 Noel Avenue, Saint John, NB, totalling 73 units, continue to be fully leased and are performing to expectations. The Company intends to acquire in excess of 400 units in the coming twelve months. \nIn accordance with the terms of ViveRE's outstanding 12% Convertible Debentures, the Company intends to settle $19,660.24 of interest payable for the three month period ending July 31, 2019, with the issuance of 127,661 common shares at a deemed price per share of $0.154. The issuance of the common shares is subject to receipt of final Exchange approval.\nViveRE also announces that it is issuing an aggregat...