NX Phase signs 9 purchase offers and reduces his debt

QUÉBEC, April 23, 2014 /CNW/ - Capital NX Phase Inc. (« NX Phase ») announces the execution of  conditional purchase offers to acquire nine (9) senior residences located in Montreal, Quebec, Drummondville, Joliette and St-Georges-de-Beauce. The 9 senior residences represent 1 520 units. NX Phase is pursuing his development plan that is targeting to acquire more than 5 000 units in the upcoming ten (10) years.

NX Phase is proud to confirm the conclusion of a debt repayment agreement with two major creditors. BCF L.L.P.., lawyers and Demers Beaulne L.L.P.. accountants, respectively received 59 304 400 and 49 278 200 common shares as reimbursement of their respective debt in the amount of $ 296 522 and $ 246 391.

In order to finance operational and acquisitions costs, NX Phase intends to proceed with private placements within the next months. These investments will provide working capital that will be used for acquisition cost like due diligences fees. It also intends to proceed with a public offering to finance amount due to the residences sellers .These investment amount to $ 55 millions.

Capital NX should close the conditional acquisition of the nine senior residences before the end of September 2014.

SOURCE NX PHASE CAPITAL INC.

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