Element Lifestyle Retirement Inc. now trading on the TSX Venture Exchange
December 10, 2015 – VANCOUVER, BC. Don Ho, President, Director and Chairman, Element Lifestyle Retirement Inc. (TSXV: ELM) and his management team joined Tim Babcock, Director, Listed Issuer Services, TSX Venture Exchange, to open the market today.
The bell ringing ceremony was to mark the completion of the reverse takeover of element™ on December 2, 2015 that secured a public listing for the Company’s shares.
The acquired entity, now a wholly-owned subsidiary of element™, has changed its name to Element Lifestyle Management Inc. The material terms of the transaction are disclosed in the Company’s October 30, 2015 Filing Statement available under its issuer profile at www.sedar.com. Full financial release here.
“We are facing great demand to provide our development and operations consulting and management services. Being a public company positions us to readily respond to the many opportunities, with the ability to expand our team and other resources,” says Don Ho, founder and president, Element Lifestyle Retirement Inc., “We can thus build robust operations in openness and transparency, according to stringent standards and requirements that we fully embrace.”
element™ has begun publicly trading at a time when Canada is undergoing a huge demographic shift and the need for infrastructure to support seniors is high:
- According to Statistics Canada projections, the share of persons aged 65 and older will increase to 20.1 per cent of the population by 2024 (Source)
- Statistics Canada reports the growth of rate of the population aged 65 years and over is approximately four times the growth rate of the total population and will double in 20 years
Headquartered in Vancouver, element™ specializes in developing and operating active lifestyle retirement communities. element™ is currently under a development and management contract with the owners of two properties being developed into retirement communities in Vancouver. In addition, a major part of its business is offering management consulting services to companies starting up retirement communities.
element™’s focus is currently on its flagship residence, OPAL by element™, located in Vancouver’s premier West Side area in Cambie Village. OPAL is in the final development approval stage and will span an entire city block. The residence will offer a complete spectrum of care, from Independent Living and Assisted Living rental and condominium suites, to Memory Care and Licensed Complex Care.
While plans for OPAL progress, element™ continues to move forward with its intergenerational community located in Langley, BC. OASIS by element™ will be located on 17 acres. Both communities will offer seniors the opportunity to age-in-place and enjoy a high quality of life that is tailored to their individual needs. Strategically designed to provide high quality accommodations, OPAL and OASIS offer seniors a wide variety of innovative services and amenities in hospitality, wellness, personal support and care.
Element Lifestyle Retirement Inc. is unique as a publicly traded retirement living provider, as its mandate is not for rapid expansion through existing income-producing properties. Its assets are its team of professional retirement living specialists. element™’s executive team has more than 50 years of collective experience in developing, operating and cultivating leadership for senior residences across North America.
President Don Ho previously led this executive team under his last company CPAC (Care) Holdings Ltd., which was sold to Chartwell Seniors Housing Real Estate Investment Trust in 2005 in a purchase valued at over $100 million.
Don Ho continues, “Our absolute principle is to build our operations at a solid, grounded pace, not to create a speculative investment market.”
element™ has been recognized internationally with a prestigious Globals Award for World’s Best Senior-focused Intergenerational Master-planned Community Design in 2015 for its progressive, sustainable village, OASIS. The award demonstrates element™’s, long-standing ability to cultivate innovative retirement communities.