Regal Lifestyle Communities Inc. Announces Completion of Approximately $3.4 Million Over-Allotment Option

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

TORONTO, June 19, 2014 /CNW/ - Regal Lifestyle Communities Inc. ("Regal" or the "Company") (TSX: RLC) announced today that it has issued an additional 440,000 common shares pursuant to the exercise of the over-allotment option granted to a syndicate of underwriters led by CIBC in connection with the Company's public offering which closed on June 5, 2014. Pursuant to the over-allotment option, the underwriters purchased an additional 440,000 common shares of the Company at a price of $7.65 per common share for total gross proceeds of approximately $3.4 million. The Company will use the net proceeds to fund future acquisitions and for general corporate purposes. The exercise of the over-allotment option has increased the total gross proceeds of the public offering to approximately $30.4 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), except pursuant to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or a solicitation of an offer to buy 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 which currently owns a portfolio of 23 income-producing retirement communities offering a continuum of care, from independent serviced living to a full range of assisted living programs. The 23 retirement communities comprise over 3,600 suites, primarily located in the Province of Ontario and including communities located in each of the Provinces of British Columbia, Saskatchewan, Quebec and Newfoundland and Labrador.

Forward-Looking Information 

Certain information in this press release may constitute forward-looking statements that involve a number of risks and uncertainties, including statements with respect to the Company and its operations, strategy, financial performance and financial condition, as well as with respect to using the net proceeds from the over-allotment option to fund future acquisitions. Forward-looking statements use the words "believe", "expect", "anticipate", "may", "should", "intend", "estimate" and other similar terms, which do not relate to historical matters.   Such forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause the actual results to differ materially from those indicated. Such factors include, but are not limited to, general economic conditions. Also see the risk factors identified in the public filings of the Company available on www.sedar.com. The Company believes that the expectations reflected in its forward-looking statements are based on reasonable assumptions; however, the Company can give no assurance that actual results will be consistent with these forward-looking statements. Except as required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Readers should be cautioned not to place undue reliance on the forward-looking statements.   
 

SOURCE: Regal Lifestyle Communities Inc.

Simon Nyilassy, President and Chief Executive Officer, Regal Lifestyle Communities Inc., [phone]; Harold Atterton, Chief Financial Officer, Regal Lifestyle Communities Inc., [phone]