Under the terms of the NCIB, the Company may purchase up to 1,300,000 common shares ("Shares") in total, being approximately 9.8% of the Company's public float (as that term is defined in the policies of the Exchange) as at
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
The Board of Directors believes that, from time to time, the trading price of the common shares does not reflect the value of its business and its future prospects. Accordingly, depending upon future price movements and other factors, the Board believes that its common shares are an attractive investment (and an appropriate use of available corporate funds), and that the NCIB is in the best interests of the Company and represents an opportunity to enhance value for its shareholders.
NexLiving purchased and cancelled a total of 74,650 Shares under the previous normal course issuer bid that expires on
A copy of the Company's notice filed with the Exchange may be obtained by any shareholder, without charge, by contacting info@nexliving.ca.
The Company continues to execute on its plan to acquire recently built or refurbished, highly leased multi-residential properties in bedroom communities across
For more information about NexLiving, please refer to our website at www.nexliving.ca and our public disclosure at www.sedarplus.ca.
This news release forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "projects", "estimates", "forecasts", "intends", "continues", "anticipates", or "does not anticipate" or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements contained in this news release include, but are not limited to, management's expectations of additional rental increases to come into effect by year end and the further enhancement of the Company's financial results. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. These forward-looking statements reflect the current expectations of the Company's management regarding future events and operating performance, but involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual events could differ materially from those projected herein and depend on a number of factors. These risks and uncertainties are more fully described in regulatory filings, which can be obtained on SEDAR at www.sedarplus.ca, under NexLiving's profile, as well as under Risk Factors section of the MD&A released on
Neither the
SOURCE
© Canada Newswire, source