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February 19, 2011 08:40 am
Retirement Residences Kingsway arms KWA.v (see news release below from 2010) is on verge of adding 10-15 multi million dollar retirement homes under its umbrella. Formed via a reverse takeover of a shell a few years ago this company has flown under the radar/
Right now the stock is undervalued to its peers, average valuation per bed is 40,000, this company after the acquisitions should be valued at 2.50 per share(they are looking to aquire 1,200 beds).
Expect the houses to bid up the share price to make a public offering to finance the acquisitions.
Beat them to the curve, but i think its close cuz slowly the price has been increasing cuz there are no sellers tightly held mostly by insiders.
Real Estate — July 15, 2010
Kingsway Arms Retirement Residences Inc. Announces Engagement of National Bank Financial as Financial Advisor
TORONTO, ONTARIO--(Marketwire - July 15, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Kingsway Arms Retirement Residences Inc. (TSX VENTURE:KWA) (the "Corporation" or "Kingsway"), announced today that it has engaged National Bank Financial ("NBF") to act in an advisory capacity to provide financial advice and analysis in connection with the Corporation's continued exploration of certain strategic transactions.
As disclosed by the Corporation in its Filing Statement dated June 30, 2008, a copy of which was filed on SEDAR in connection with the Corporation's Qualifying Transaction (as that term is used in the policies of the TSX Venture Exchange) and which was successfully completed on July 31, 2008, it remains the continued intent of the Corporation to pursue discussions and negotiations for purposes of acquiring certain properties currently managed by Kingsway Arms Management Services Inc. ("ManagementCo") and/or the internalization of ManagementCo. ManagementCo currently acts as manager for the Corporation in respect of its Aurora facility. No agreements have been entered into or reached in respect of any such transactions as of the current date however the Corporation believes it is in the best interests of Kingsway to engage NBF in an advisory role and to assist them, if and as needed, in this regard on a go-forward basis.
No other agreements have been entered into by the Corporation in respect of any such exploratory activity as of the date hereof and there is no assurance that any such strategic transactions will be effected by the Corporation.