Regal Lifestyle Communities Inc. Announces the Closing of $15 Million Over-Allotment Option

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Nov. 9, 2012 /CNW/ - Regal Lifestyle Communities Inc. ("Regal" or the "Company") (TSX: RLC) announced today that it has issued an additional 1,500,000 common shares pursuant to the exercise of the over-allotment option granted to a syndicate of underwriters co-led by CIBC and BMO Capital Markets in connection with the Company's initial public offering which closed on October 16, 2012. Pursuant to the over-allotment option, the underwriters purchased an additional 1,500,000 common shares of the Company at a price of $10.00 per common share for total gross proceeds of $15 million. Of the net proceeds, approximately $10 million will be used by the Company to repay any remaining balance under its term loan with First National Financial LP, and the remaining approximately $4.1 million of net proceeds will be used to fund growth opportunities, future acquisitions and/or general corporate purposes. The exercise of the over-allotment option has increased the total gross proceeds of the public offering to $153.8 million.

The common shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the United States Securities Act of 1933, as amended). This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the common shares in the United States or to, or for the account or benefit of, U.S. Persons.

About Regal Lifestyle Communities Inc.

Regal Lifestyle Communities Inc. is a corporation incorporated under the laws of the Province of Ontario. With the completion of its recent initial public offering and related transactions, the Company acquired a portfolio consisting of income-producing retirement communities offering primarily independent serviced living and assisted living programs. The Company's portfolio is comprised of ten "current generation" retirement communities with an average age of approximately five years, consisting of over 1,400 suites, primarily located in the Province of Ontario and including a property located in each of the Provinces of Saskatchewan and Newfoundland and Labrador.

Regal's goals are to deliver stable dividends to its shareholders while expanding its portfolio of current generation retirement communities over time through accretive acquisitions and expansions of owned communities

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under "Risk Factors" in the final prospectus of the Company dated October 5, 2012. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

For more information, visit the Company's issuer profile at www.sedar.com

SOURCE: Regal Lifestyle Communities Inc.

For further information:

Simon Nyilassy,
President and Chief Executive Officer
Regal Lifestyle Communities Inc.
(416) 777-9677 x 202

or

Harold Atterton,
Chief Financial Officer
Regal Lifestyle Communities Inc.
(416) 777-9677 x 203