Sheaco Holdings Acquires Common Shares of NexLiving Communities

RIVERVIEW, NB, March 1, 2023 /CNW/ - (TSXV: NXLV) – Sheaco Holdings Inc. ("Sheaco") announces that it has acquired 37,500,000 common shares ("Common Shares") of NexLiving Communities Inc. (TSXV: NXLV) ("NexLiving"), representing approximately 11.33% of the Common Shares issued and outstanding. Sheaco is owned and controlled by Jamie Shea and Sarah Shea. 

On February 28, 2023, Sheaco acquired 37,500,000 Common Shares as partial consideration for the sale of 100% of the shares of Northpoint Management Inc. at a deemed issue price of $0.20 per share for a total issue price of $7,500,000 (the "Transaction").

Before the Transaction, Sheaco and its joint actors did not hold any Common Shares.

The purpose of the Transaction was for investment purposes. Sheaco and its joint actors may, from time to time, increase or decrease their holdings of securities of NexLiving, depending on market and other conditions.

Further details on the information above concerning Sheaco may be obtained from the Early Warning Report filed on SEDAR or by contacting NexLiving at [e-mail].

SOURCE NexLiving Communities Inc.

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