Bill Hennessey Joins NexLiving Communities Board of Directors

·2 min read

HALIFAX, NS, Oct. 19, 2021 /CNW Telbec/ - NexLiving Communities Inc. (TSXV: NXLV) ("NexLiving" or the "Company") is pleased to announce the appointment of Mr. Bill Hennessey to its Board of Directors. Mr. Hennessey brings his deep knowledge of the Atlantic real estate market, and expertise in secondary markets, through his position as Managing Director for Colliers' and as a member of Colliers National multi-family team. He has a strong track record as a real estate entrepreneur, owner and operator having recently launched an exciting 150-unit luxury condo, rental and boutique hotel concept in downtown Moncton. Mr. Hennessey has been recognized as Atlantic Canada's Top 50 CEOs for the past 3 years for his leadership, community involvement and business growth. He is a board member for the Greater Moncton Chamber of Commerce and an active member on philanthropic boards, including the Crossroads for Women Capital Campaign, Donor Relations - Friends of the Moncton Hospital and the Keep the Kay Arena campaign.

NexLiving Communities Inc. Logo (CNW Group/NexLiving Communities Inc.)
NexLiving Communities Inc. Logo (CNW Group/NexLiving Communities Inc.)

The Chairman of NexLiving, Rick Turner commented "We are delighted to have Mr. Hennessey join our Board at an exciting time for our company. Population growth in Moncton has caused an increase in demand for apartments, which is now reflected in the low vacancy rates and high rent growth in the region. The company is positioned to grow its portfolio and Bill's deep ties and operating experience in New Brunswick will be instrumental to the success of our next leg of growth."

Mr. Hennessey's appointment to NexLiving's Board of Directors is subject to TSX Venture Exchange approval.

About the Company

NexLiving continues to execute its plans 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 their next "home", after years of owning they look forward to the carefree lifestyle provided through renting in a community of their peers. NexLiving intends to consolidate this emerging market niche. The Company currently owns 549 units in New Brunswick and Ontario. 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 assembled a significant pipeline of potential acquisitions for consideration by the Company's Board of Directors.

Forward-Looking Statements

This news release contains forward-looking statements relating to the future operations of NexLiving 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 NexLiving 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 NexLiving Communities Inc.'s expectations include other risks detailed from time to time in the filings made by NexLIving 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 NexLiving 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 NexLiving Communities Inc. will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.

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.

SOURCE NexLiving Communities Inc.

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