/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
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
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:
President and Chief Executive Officer
Regal Lifestyle Communities Inc.
(416) 777-9677 x 202
Chief Financial Officer
Regal Lifestyle Communities Inc.
(416) 777-9677 x 203