NexLiving Communities Inc. (TSXV:NXLV) announced its intention to acquire North Point Management Inc. from Sheaco Holdings Inc. on November 4, 2021. NexLiving Communities Inc. (TSXV:NXLV) agreed to acquire North Point Management Inc. from Sheaco Holdings Inc. for CAD 39.6 million on December 5, 2022. The purchase price, subject to customary adjustments, shall be paid by the issuance of 37,500,000 common shares at a deemed issue price of CAD 0.20/share (valued at CAD 7.5 million), cash of CAD 2.5 million and the proceeds from a CAD 29.6 million CMHC insured mortgage. Subject to due diligence, financing, performance conditions and TSX Venture Exchange approval, the Company expects to close the transaction by the end of the first fiscal quarter of 2023.The transaction is expected to close by the end of the first fiscal quarter of 2023. As of February 22, 2023, the transaction was approved by TSX and the deal is expected to close on or before February 28, 2023. The closing consideration included issuance of 37,500,000 common shares at a deemed issue price of CAD 0.20 per share (valued at CAD 7.5 million), cash of CAD 1.4 million and a CAD 30.7 million CMHC insured mortgage bearing interest at 4.19% with a 10-year term.

NexLiving Communities Inc. (TSXV:NXLV) completed the acquisition of 100% interest in North Point Management Inc. from Sheaco Holdings Inc. for CAD 39.6 million on February 28, 2023. The CAD 39.6 million purchase price for the acquisition was partially satisfied with the issuance of 37.5 million common shares at a price of CAD 0.20 per share for deemed proceeds of CAD 7.5 million, a CAD 30.7 million CMHC-insured mortgage, and a CAD 1.0 million bridge loan with remainder using cash on hand. Northpoint's assets consist of two multi-family buildings comprising 75 units each located at 2251 Mountain Rd. and 2261 Mountain Rd., Moncton, New Brunswick.