Devcore Group Acquires Significant Stake in NexLiving Communities Inc.

TORONTO, ON - On August 30, 2024, 8985979 Canada Inc. (898), affiliated with Devcore Group Inc. (Devcore), acquired 15,822,928 common shares of NexLiving Communities Inc. (the Issuer). This acquisition forms part of a purchase agreement dated January 21, 2024, involving the transfer of a multi-family asset portfolio in eastern Ontario and Québec, valued at $224 million.

Before this transaction, 898 owned no shares of NexLiving. Post-transaction, 898 now holds approximately 48.25% of the Issuer’s outstanding shares. Including shares held by joint actors, 898 controls 49.9% of the Issuer’s common shares. These shares were obtained for investment purposes, and future ownership levels may vary based on market conditions and pre-existing agreements.

The headquarters of NexLiving Communities Inc. is in Dartmouth, Nova Scotia, with its shares listed on the TSX Venture Exchange. Details of this early warning press release can be found on SEDAR+, or contact Brendan Jacome at 819-663-7777 Ext.270 for more information.