NexLiving Communities Inc. announced that shareholders voted in favour of the resolution in connection with the Company's previously announced transaction to acquire from Devcore Group Inc. and related entities, a portfolio of multi-family assets in eastern Ontario and Québec consisting of 16 properties and 991 units in exchange for share consideration and the assumption of existing mortgages. Approximately 93.5% of Shareholders voted in favour of the Transaction Resolution, which required and received approval by at least a majority of the Shareholders present in person or by proxy at the special meeting held on April 3, 2024. The Company and Devcore continue to make progress towards closing the Transaction and subject to receipt of final approval from the TSXV and all other conditions being satisfied or waived, including certain regulatory and lender approvals, the Company expects that the Transaction will close during the second quarter of 2024.

The Company has previously reported receiving Competition Act approval and conditional approval from the TSXV on February 21, 2024.