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February 27, 2020

Vista Independent Living Limited Partnership Completes Brokered Private Placement

Vista Independent Living Limited Partnership (the “Issuer”) has completed a series of brokered private placements of 12% subordinated secured notes and 15% deferred non-compounding preferred units of the Issuer.

The Issuer intends to use the gross proceeds from the offering to develop, build, lease-up and operate an 11 storey building comprised of a 181-unit retirement residence containing 38 condominium units for sale to seniors, 95 independent living and assisted living suites for lease and 48 memory care suites for lease, located in Victoria, British Columbia.

Echelon Wealth Partners Inc. acted as agent to the Issuer in connection with the offering, and Echelon Wealth Holdings Inc. acts as administrator of the Issuer.

Wildeboer Dellelce LLP acted for the agent and the administrator in connection with the offering with a team that consisted of Ronald Schwass, Rebecca Cochrane and Sarah Wahba (corporate/securities), Katy Pitch and Marija Tasevska (tax).