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(TSX Symbol:ACC) – Amica Mature Lifestyles Inc. (“Amica” or the “Company”) announces that further to its news release of August 12, 2013, it has received the approval of the Toronto Stock Exchange (the “TSX”) to make a normal course issuer bid (the “Bid”) for up to 2,445,936 of its common shares (the “Common Shares”) on the TSX, representing 10% of the public float as at July 31, 2013. Daily purchases will be limited to 6,772 Common Shares, representing 25% of the average daily trading volume of 27,090, other than block purchase exceptions.
Amica believes that, from time to time, the market price of its Common Shares may not fully reflect the underlying value of its business and its future business prospects. The Company believes that, in such circumstances, the purchase of Common Shares for cancellation will increase the proportionate interest of, and may be advantageous to, all remaining shareholders.
The actual number of Common Shares that would be purchased, if any, and the timing of such purchases will be determined by Amica considering market conditions, stock prices, its cash position, and other factors. Purchases under the Bid may commence on August 16, 2013, and will terminate on August 15, 2014, or such earlier date as the Company may complete its purchases pursuant to the Company’s Notice of Intention to Make a Normal Course Issuer Bid which has been filed with the TSX. Purchases will be made through the facilities of the TSX and other Canadian trading systems and in accordance with the rules and policies of the TSX. Common Shares purchased under the Bid will be cancelled by the Company.
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 24 Amica Wellness & Vitality™ Residences in operation in Ontario, British Columbia and Alberta, Canada. Additionally, Amica has one residence under construction in Oakville, Ontario and two existing operational residences in Ontario with expansions that are in pre-development. The common shares of Amica are traded on the Toronto Stock Exchange under the symbol “ACC”. For more information, visit
www.amica.ca.For further information, please contact: