NexLiving Communities Announces TSX Venture Exchange Has Provided Conditional Acceptance Renewal of Normal Course Issuer Bid

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NexLiving
NexLiving purchased and cancelled a total of 235,700 Shares under the previous normal course issuer bid that expires on May 30, 2025 at an average cost of $1.715 per share.

NexLiving Communities Inc. (“NexLiving” or the “Company”) announced that the TSX Venture Exchange (the “Exchange”) has provided conditional acceptance of the Company’s Normal Course Issuer Bid (the “NCIB”), subject to the Company meeting all of the requirements of the Exchange.

Under the terms of the NCIB, the Company may purchase up to 1,500,000 common shares (“Shares”) in total, being approximately 9.6% of the Company’s public float (as that term is defined in the policies of the Exchange) as at May 26, 2025, during the 12-month period commencing June 2, 2025 and ending June 2, 2026.

The price which the Company will pay for any such Shares will be the prevailing market price at the time of acquisition. The actual number of Shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by management of the Company and will be facilitated by Raymond James. All Share purchases under the NCIB will be made on the open market through the facilities of the Exchange and will be purchased for cancellation. The funding for any purchase pursuant to the NCIB will be financed out of the working capital of the Company.

The Board of Directors believes that the current trading price of the Company’s common shares may, at times, undervalue the Company’s business and future prospects. As a result, and depending on market conditions and other factors, the Board considers the shares may be an attractive investment and a prudent use of available funds. The NCIB is therefore viewed as being in the best interests of the Company and a means of enhancing shareholder value.

NexLiving continues to execute on its plan to acquire recently built or refurbished, highly leased multi-residential properties in secondary markets across Canada. NexLiving aims to deliver exceptional living experiences to our residents and provide comfortable, affordable housing solutions that cater to a wide range of demographics. The properties offer a range of modern and updated suites, with a variety of amenities and features that allow residents to experience a hassle-free and maintenance-free lifestyle. NexLiving is committed to investing in its properties to ensure that they are modern and up to date. The Company currently owns 2,083 units in New Brunswick, Quebec, Ontario and Manitoba. NexLiving has also developed a robust pipeline of qualified properties for potential acquisition. By screening the properties identified to match the criteria set out by the Company (proximity to healthcare, amenities, services and recreation), management has identified a number of attractive acquisition targets.