Amica Mature Lifestyles Announces Shareholder Approval of Plan of Arrangement and Other Business at Shareholders Meeting

 

Vancouver, British Columbia (FSCwire) - (TSX Symbol:  ACC) – Amica Mature Lifestyles Inc. (“Amica” or the “Company”) is pleased to announce that the previously announced plan of arrangement (the “Arrangement”) involving Amica and BayBridge Seniors Housing Inc. has been approved by the shareholders of Amica. 

Amica held an annual and special meeting of shareholders (the “Meeting”) earlier today at which shareholders voted in favour of all items of business, including the Plan of Arrangement. Approximately 70.68% of the issued and outstanding Common Shares as at August 28, 2015 (the Record Date for the Meeting) were voted in connection with the Meeting. Approximately 99.94% of the shares represented at the Meeting voted in favour of the Arrangement.

Amica will apply for a final order of the Supreme Court of British Columbia for approval of the Arrangement on October 15, 2015. The closing of the Arrangement remains subject to court approval, applicable regulatory approvals, certain lender consents and the satisfaction of certain other closing conditions customary in transactions of this nature. 

In addition, Amica is pleased to announce that all of the other business considered at the Meeting was also approved by the shareholders of the Company. The detailed voting results for the election of directors is set out below.

Full details of the voting results from for the Meeting will be available on SEDAR at www.sedar.com and on the Investor Relations section of the Company’s website at www.amica.ca.

About Amica Mature Lifestyles Inc.

Amica Mature Lifestyles Inc., a Vancouver based public company, is a leader in the management, marketing, design, development and ownership of luxury seniors residences. There are 25 Amica Wellness & Vitality™ Residences in operation in Ontario, British Columbia and Alberta, Canada. Additionally, Amica has one residence in pre-development in Calgary, Alberta and three existing operational residences have expansions in pre‑development. The common shares of Amica are traded on the TSX under the symbol “ACC”. For more information, visit www.amica.ca.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking information within the meaning of applicable securities laws that reflects the current expectations, estimates and projections of management about the future results, performance, achievements, prospects or opportunities, including whether conditions to the consummation of the Arrangement will be satisfied and the timing of final order of the Supreme Court of British Columbia for approval of the Arrangement. The words “may”, “would”, “could”, “should”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “aim”, “endeavour”, “project”, “continue”, “predict”, “potential”, or the negative of these terms or other similar expressions have been used to identify these forward-looking statements.

Forward-looking statements are based upon a number of assumptions and are subject to a number of known and unknown risks and uncertainties, many of which are beyond management’s control, and that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. Management has attempted to identify important factors that could cause actual results, performance or achievements to vary from current expectations or estimates, expressed or implied, by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differ materially from current expectations. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those expected or estimated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

The following factors could cause actual results to differ materially from those discussed in the forward-looking information: failure to satisfy the conditions to completion of the Arrangement, court approval and certain regulatory approvals in Canada and the occurrence of any event, change or other circumstance that could give rise to the termination of the Arrangement Agreement. Additional risks and uncertainties regarding Amica are described in its most recent Annual Information Form which is available on SEDAR at www.sedar.com.

This forward-looking information represents our views as of the date of this news release and such information should not be relied upon as representing management’s views as of any date subsequent to the date of this document. While we anticipate that subsequent events and developments may cause our views to change, we do not intend to update this forward-looking information, except as required by applicable securities laws.

For further information, please contact:

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