HALIFAX, NS, April 12, 2021 /CNW/ - ViveRE Communities
Inc. (TSXV: VCOM) ("ViveRE" or the "Company")
announced today that it is undertaking a non-brokered private
placement of common shares of the Company (the "Shares") in the
minimum amount of $2,500,000 and up
to $5,000,000 (the
"Offering").
The Offering shall consist of a minimum of 12,500,000 Shares and
a maximum of 25,000,000 Shares at a price of $0.20 per Common Share.
The net proceeds from the Offering will be used to fund targeted
acquisitions of premium multi-unit properties and for general
corporate purposes.
The Offering is subject to the approval of the TSX Venture
Exchange and is expected to close on or about April 30, 2021.
Canaccord Genuity, Cormark Securities Inc., Desjardins Capital
Markets and Echelon Wealth Partners Inc. are acting as financial
advisors to the Company and may receive a finder's fee in respect
of certain orders. This compensation will be comprised of a 6.0%
cash fee of the proceeds from subscribers introduced by
finders.
Company
ViveRE continues to execute its plan to acquire recently built
or refurbished, highly leased multi-residential properties in
bedroom communities 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,
quality and convenience has led to the emergence of the 55+ active
living segment. "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 intends to
consolidate this emerging market niche. The company currently owns
533 units in New Brunswick and
Ontario. ViveRE has developed a
robust pipeline of qualified properties for potential acquisition.
By screening properties identified to match the criteria set out by
the company (proximity to healthcare, amenities, services and
recreation), management has identified a significant pipeline of
potential acquisitions for consideration by the Company's Board of
Directors.
On behalf of the Board of Directors of ViveRE Communities
Inc.
"Mike Anaka"
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Forward-Looking Statements
This news release contains forward-looking statements
relating to the future operations of ViveRE and other statements
that are not historical facts. Forward-looking statements are often
identified by terms such as "will", "may", "should", "anticipate",
"expects" and similar expressions. All statements other than
statements of historical fact, included in this release, including,
without limitation, statements regarding the future plans and
objectives of ViveRE Communities Inc, are forward-looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from ViveRE Communities Inc.'s
expectations include other risks detailed from time to time in the
filings made by ViveRE Communities Inc. with securities
regulators.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of ViveRE Communities Inc. The reader
is cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and ViveRE Communities Inc.
will only update or revise publicly the included forward-looking
statements as expressly required by Canadian securities
law.
SOURCE ViveRE Communities Inc.
