Early Warning Report on Kingsway Arms Retirement Residences Holdings

Joseph Schillaci (the "Offeror") announces that as of April 21, 2014, he has
acquired an aggregate of 1,852,000 Common Shares in the capital of Kingsway Arms
Retirement Residences Inc. (TSX VENTURE:KWA), (the "Company"). Acquisitions have
been completed in the market through the TSX Venture Exchange or other Canadian
stock markets. As a result, the Offeror now owns approximately 10.35% of the
issued and outstanding Common Shares of the Company.


The Offeror has acquired the securities for investment purposes and is currently
considering whether or not to acquire additional securities of the Company.
Depending upon his evaluation of the business, prospects and financial condition
of the Company, the market for the Company's securities, general economic and
tax conditions and other factors, the Offeror may acquire more or sell some or
all of his securities of the Company.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mr. Joseph Schillaci
905 615 9921
5-1290 Blundell Road
Mississauga, Ontario
L4Y 1M5