Parkbridge Lifestyle Communities announces closing of equity offering

    
    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/
    

CALGARY, Sept. 30 /CNW/ - Parkbridge Lifestyle Communities Inc. ("Parkbridge" or the "Corporation") (PRK - TSX) announces that it has closed its previously announced public offering of 5,000,000 common shares in the capital of the Corporation ("Common Shares") at a price of $4.00 per Common Share for gross proceeds of $20,000,000 (the "Offering").

Parkbridge has granted the Underwriters an option (the "Over-Allotment Option") under which the Underwriters may purchase up to an additional 750,000 Common Shares at a price of $4.00 per Common Share. The Over-Allotment Option is exercisable in whole or in part at any time until October 30, 2009.

The Offering was underwritten by a syndicate of underwriters led by Genuity Capital Markets ("Genuity") and including Desjardins Securities Inc., National Bank Financial Inc., TD Securities Inc., RBC Dominion Securities Inc. and Cormark Securities Inc. (collectively, the "Underwriters"). The Company intends to use the net proceeds to fund ongoing development activities, for future property acquisitions and developments, as well as to reduce amounts outstanding under its operating credit facility and for general corporate purposes (including working capital).

Parkbridge Profile

Parkbridge is one of Canada's leading owners, operators and developers of land lease residential communities and seasonal recreational resorts. The portfolio is concentrated in the provinces of Ontario, Alberta, Quebec and British Columbia.

Parkbridge now owns 76 properties containing approximately 16,900 sites with a capacity to add more than 3,900 additional sites through expansion of current property holdings.

Parkbridge is listed on the Toronto Stock Exchange and its head office is in Calgary, Alberta.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933 as amended (the "1933 Act"), absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.

This news release contains forward-looking statements concerning the Corporation's business and operations. The Corporation cautions that, by their nature, forward-looking statements involve risk and uncertainty and the Corporation's results could differ materially from those expressed or implied in such statements. Reference should be made to the Corporation's June 30, 2009 Unaudited Interim Consolidated Financial Statements, the 1380215.v5 most recent Management's Discussion and Analysis in the interim report for the period ended June 30, 2009, the Annual Information Form dated December 10, 2008, and the Management's Discussion and Analysis and Audited Consolidated Financial Statements for the year ended September 30, 2008. All reports may be viewed on Parkbridge's website www.parkbridge.ca or on the SEDAR website www.sedar.com.

SOURCE PARKBRIDGE LIFESTYLE COMMUNITIES INC.

For further information: For further information: Mr. Iain Stewart, President, Western Operations and Co-CEO, Telephone: (403) 215-2109, Email: istewart@tparkbridge.com; Mr. Calvin Wilson, Vice President, Finance and Chief Financial Officer, Telephone: (403) 215-2105, Email: cwilson@parkbridge.com; Parkbridge Lifestyle Communities Inc., Telephone: (403) 215-2100, Facsimile: (403) 215-2115, 700, 505 - 3rd Street SW, Calgary, AB, T2P 3E6

Organization Profile

PARKBRIDGE LIFESTYLE COMMUNITIES INC.

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