Not for distribution to U.S. newswire services or dissemination in the United States
North America Home Finance Inc. announces launch of initial public offering and filing of preliminary prospectus that is accessible on SEDAR+
Vancouver, B.C. — November 18, 2025
North America Home Finance Inc. (“NAHF” or the “Company”), a Canadian residential real estate finance and asset development company pioneering shared-equity homeownership solutions, today announced the launch of its Initial Public Offering (the “Offering”) in connection with which a preliminary prospectus (the “Preliminary Prospectus”) has been filed with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario, for an initial public offering of units of the Company (the “Units”). The Offering is being made on a commercially reasonable efforts basis and is led by Hampton Securities Limited, as exclusive agent (the “Agent”).
The Offering consists of a minimum of 6,800,000 Units and a maximum of 10,000,000 Units at a price of $0.50 per Unit, for gross proceeds of a minimum of $3.4 million and a maximum of $5.0 million, subject to the over-allotment option (described below). Each Unit consists of one common share of the Company (a “Unit Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share in the capital of the Company (each, a “Warrant Share”) at a price of $0.85 per share at any time within 24 months of the closing of the Offering. The Company has granted to the Agent an option, exercisable, in whole or in part, at the sole discretion of the Agent, for a period of 30 days from the closing of the Offering, to offer for sale additional Units of up to 15% of the number of Units issued pursuant to the Offering on the closing date.
NAHF will apply to list its common shares (including the Unit Shares and the Warrant Shares), Warrants, and Housing Shares (as defined below) on the Canadian Securities Exchange (“CSE”). Listing will be subject to the Company fulfilling all applicable listing requirements and conditions of the CSE. The closing of the Offering is expected to close on or about December 12, 2025, or on such other date as agreed upon between the Company and Agent and is subject to customary closing conditions, including, among other things, the receipt of customary approvals, including regulatory and stock exchange approvals.
Concurrent exchange offering to existing securityholders
Concurrently with the Offering, NAHF is conducting an exchange offering pursuant to which holders of certain previously issued bonds and rights may exchange such securities for series 1 non-voting preferred shares in the capital of the Company (the “Housing Shares”) at a fixed exchange value of $10.30 per Housing Share (the “Exchange Offering”). The Exchange Offering is intended to strengthen the Company’s balance sheet and align prior investors with long-term housing value creation.
Use of Proceeds
The Company intends to use the net proceeds from the Offering to repay certain liabilities, fund general corporate purposes (including general and administrative expenses, management fees and consulting costs), support working capital, and cover costs associated with listing and becoming a reporting issuer. A more detailed description of the use of proceeds is set out in the Preliminary Prospectus.
Availability of Preliminary Prospectus
The Preliminary Prospectus contains important information relating to the Company, the Units, the Offering and the Exchange Offering, and is subject to completion or amendment. Access to the Preliminary Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a prospectus any amendment thereto. A copy of the preliminary prospectus is available under the Company’s SEDAR+ profile at www.sedarplus.ca. An electronic or paper copy of the Preliminary Prospectus may be obtained, without charge, from the Agent at (416) 862-8686 and [email protected] by providing the Agent with an email address or address, as applicable. The Preliminary Prospectus has not yet become final. There will not be any sale or any acceptance of an offer to buy the Units or any exchange for Housing Shares under the Exchange Offering until a receipt for the final prospectus in respect of the Offering has been issued.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
The Units, the Unit Shares and the Warrants comprising the Units, the Warrant Shares issuable upon exercise of the Warrants, and the Housing Shares issuable in connection with the Exchange Offering, have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the Units may not be offered or sold within the United States or to U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Advancing a New Model for Housing Affordability
NAHF is developing and acquiring residential properties while offering consumers shared-equity pathways to home equity. Through its proprietary HomePlan™ program, residents can build equity and move toward ownership while living in high-quality rental housing.
“NAHF was created to expand access to housing in a way that is financially sustainable for both households and investors,” says George Lawton, Chief Executive Officer of NAHF. “This offering allows us to accelerate our growth strategy, expand our shared-equity housing portfolio, and support more families in building intergenerational stability through homeownership.”
The Company’s development pipeline includes multi-family and single-family housing communities in British Columbia, with additional markets under evaluation.
About North America Home Finance Inc.
North America Home Finance Inc. is a Canadian residential real estate finance and asset development company focused on expanding housing access through shared-equity and next-generation ownership pathways. The Company develops, acquires and manages income-producing residential housing communities in Canada.
Contact
Investor Relations North America Home Finance Inc. 9th Floor – 1021 West Hastings Street Vancouver, BC V6E 0C3 Email: [email protected] Website: www.nahomefinance.com
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation. In some cases, forward-looking information can be identified by words or phrases such as “may”, “might”, “will”, “should”, “could”, “expect”, “anticipate”, “continue”, “plan”, “seek”, “estimate”, “indicate”, “believe”, “intend”, “project”, “potential”, “forecast”, “budget”, “target”, “goal”, “objective”, “schedule”, “is/are likely to” or the negative of these terms and other similar expressions intended to identify forward-looking information. The Company has based the forward-looking information contained herein on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. The forward-looking information contained herein includes, among other things, statements relating to: the expected terms of and timing of completion of the Offering and the Exchange Offering and the expected use of proceeds therefrom and expected benefits of the Offering and the Exchange Offering to NAHF; the application for listing of the Common Shares, Warrant Shares, Warrants, and Housing Shares on the CSE; the planned business activities of the Company and the strategy by which it expects to achieve these objectives; NAHF developing and acquiring residential properties while offering consumers shared-equity pathways to home equity;
Such forward-looking information is based on a number of material factors and assumptions, including, but not limited to, expectations and assumptions relating to: the Offering and the Exchange Offering will be completed on the terms currently contemplated and in accordance with the timing currently contemplated; the CSE will approve the listing of the Common Shares, Warrant Shares, Warrants, and Housing Shares; the Company will realize the anticipated benefits of the Offering and the Exchange Offering; results of planned development activities; the price of housing assets; the cost of identification, acquisition and development activities; that as the business continues to develop, there will be no changes that would materially adversely affect the business; that financing will be available if and when needed and on reasonable terms; that third-parties, supplies and governmental and other approvals required to conduct the business will be available on reasonable terms and in a timely manner; that there will be no revocation of adverse amendments to or delays in granting government approvals; that general business, economic, competitive, social, and political conditions will not change in a material adverse manner; and the assumptions underlying the Company’s business model; other estimates, assumptions, and forecasts will be accurate. While the Company considers these material factors and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements and forward-looking information. Such risks include but are not limited to: the Offering and the Exchange Offering may not be completed on the terms or in accordance with the timing currently contemplated, or at all; less than the maximum Offering being achieved; a receipt for the final prospectus for the Offering and the Exchange Offering may not be obtained; the CSE may not approve listing of some or all of the Common Shares, Warrant Shares, Warrants, and Housing Shares; HomePlan products are new and may be subject to regulation; HomePlan tenants may not qualify for mortgage financing; and the Company may not achieve some or all of its business objectives. See “Risk Factors” in the Preliminary Prospectus as well as the risk factors discussed in the management’s discussion and analysis appended to the Preliminary Prospectus for a complete list of risks relating to an investment in the Company.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
The forward-looking information contained in this news release are made as of the date hereof and, unless so required by applicable law, the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
We are pleased to share a very meaningful milestone in the progress of the Glenlake Highview project.
CMHC Underwriting Completed: Loan Terms Issued
Since our May update, we have been actively working with our selected lender to complete the underwriting process for construction financing. Following our update email, a CMHC underwriter picked up this file quickly, and after several rounds of detailed review and submissions, our lender has now received formal underwriting terms from CMHC.
This represents a critical step forward in securing the financing necessary to move into the next phase of development.
Final Condition Pending Before Certificate of Insurance
The lender is aligned with us in being pleased with the proposed loan terms. The only item remaining is the completion of one final step before the Certificate of Insurance (COI) can be requested by the lender. The work for this step is done, and we are only waiting for our auditors to be able to release a final set of statements to the lender. Once that certificate is issued, the lender will move ahead with their formal financing commitment letter.
What Happens Next?
Upon receiving the COI, we will begin the demolition of the existing buildings on the site and a detailed construction timeline will then be finalized and shared with all investors.
Receiving the COI will mark a turning point for the project and a shift toward visible, on-site activity. We look forward to keeping you updated as we enter this next phase.
We are pleased to share a key update on the progress toward the first major principal return distribution for the Five Bridges project. As of today, we have officially signed off on all documentation related to the transfer of the 80-unit block that NAHF Real Estate Trust will retain for the long term. This includes the necessary security agreements for the CMHC-insured term financing, as required by the lender’s legal counsel.
Assuming everything proceeds as expected, we anticipate that the lender will advance funds into trust next week. Once our legal counsel confirms receipt of the funds, we will follow up with an email to confirm the distribution timeline for investors who are not rolling over their principal investment.
Out of the more than 100 investors involved in the project, we are still awaiting approximately 16 responses with completed banking instruction forms. We appreciate the responses received so far, and to avoid delays for those who are ready, we plan to process distributions in batches. This means investors who have already submitted their information will not need to wait for everyone else to respond before receiving their funds.
Beginning today, either a member of the NAHF team or your Waverley Dealing Representative will be reaching out to confirm your banking details verbally. While this additional step may seem overly cautious, it serves as a manual two-factor authentication measure to help prevent any potential errors or misdirected funds and protect against investor email account security breaches.
We are now in the final stages of this significant liquidity event and are excited to see this successful project approaching full completion. The Millennial and ACE teams continue to work diligently on the sale of the remaining eight condos, and the final profit accounting is nearly complete.
Once the initial distributions are underway, we will provide another update outlining the next steps to bring this investment to a full close.
Looking ahead, the timeline for pre-framed panels has been finalized, with initial wood wall deliveries expected in May. To provide a more interactive view of progress, we’ve made the visual “Construction Tracker” report available for download via the link below. It includes up-to-date photos and progress charts for each construction area.
Sincerely,
The NAHF Team
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Collinson Rise: A Counterstrategy for a Changing Market
We’re pleased to report that construction at Collinson Rise has continued to progress steadily since our last update. The lower foundation and underground parking structure are nearly complete—a solid base, both literally and figuratively, for the project’s next phase. The suspended slab formwork is advancing well, and the first concrete pours for the grade-level parking structure are underway. The ramp leading to the lower level is also complete, paving the way for the next stages.
Looking ahead, the timeline for pre-framed panels has been finalized, with initial wood wall deliveries expected in May. To provide a more interactive view of progress, we’ve made the visual “Construction Tracker” report available for download via the link below. It includes up-to-date photos and progress charts for each construction area.
The project continues to attract buyers. Since September 1, 2024, an additional $1.2 million worth of condos have been contracted for sale. We remain in a “tempo” sales mode—consistent, measured, and efficient. This approach ensures that we maintain healthy momentum while avoiding premature overspending on marketing.
Our team anticipates that as interest rates settle into their new, more favourable range—whatever that exact level may be—the current buyer hesitation will disappear. With the continued decline in rates, we’ll align sales efforts with increased demand while staying disciplined in our marketing spend. Once the project reaches the “lock-up” stage—when all windows are in, and the roof is on—we’ll finalize and execute the strategy for the last sales push.
Timeline Update: Clarity on the Horizon
Several investors have asked for a more precise timeline for project completion. While construction is progressing well, a more accurate forecast will be possible once wood framing for the condo units is underway, and concrete work is fully completed. This milestone will give us the clarity needed to project a realistic end date.
We appreciate your continued support and look forward to sharing the next update before summer. The project will continue moving forward, with every nail, panel, and pour bringing us closer to the finish line.
We are excited to announce that we have received the development permit for the first two phases of the Glenlake Highview project
We appreciate that the development team were exemplary in providing answers to final questions and diligently following up with the planning staff to ensure the development permit was issued as quickly as possible.
With the development permit in hand, we are looking forward to proceeding with the next steps for the project, including moving forward with building permit drawings, updating the construction financing submission, survey and subdivision of title for the first two phases, and organizing the demolition of the old Glenlake Inn building.
Remaining Investment Available at $0.98
Currently, we have just over $400,000 of units left for investment at the current price of $0.98 under the Offering Memorandum distribution. We look forward to wrapping up this round of investment and moving to the final offering of profit-sharing units at $1.00 per unit.
If you are interested in finding out more about investing with the mortgage-secured, profit-sharing Glenlake Highview Development Project, please reply or reach out to your Dealing Representative or Investment Advisor.
Excavation work is complete, the crane base was formed and poured, and the crane set up, shoring is complete, and the foundation footing and some walls have been started. The project is well underway with 12% of the total work now completed. Click below to follow along on the progress and see current photos from the work site.
Updated Construction Trackers will be available every four to six months and we look forward to sharing more progress reports as the project moves towards construction completion.
First Occupancy Granted at the Five Bridges Development Project
We are excited to announce that the Five Bridges Development Project has received its initial occupancy permit and has started closing condo sales, which are beginning to pay down the construction loan.
We appreciate the response from investors in this project in regard to the option of rolling over the investment towards sharing the rental income portion of the building going forward. We will have the final steps for the rollover ready to complete in October.
Now that the condo sales are closing and the final floors are being completed for occupancy, we can forecast that the final profit payouts for Five Bridges investors will be ready for payout in the new year, after last expenses have been all accounted for.
We will provide a further update late in October regarding the timing of the return of principal for those not rolling over, as principal will start to become available once the construction loan has been fully paid off from the condo sales.
Glenlake Highview in Queue for Development Permit with Traffic Plan Resolved and Approved
The final step before Development Permit approval could be issued by the City of Langford was acceptance of the traffic engineer’s report and proposed road improvements by the province’s Ministry of Transportation.
This week, Langford’s Engineering Department approved the final amended traffic report and sent approval to the Planning Department to allow the development permit to be issued. We look forward to updating everyone once the permit approval is in hand.
Financing Approval at Saanich Ridge
We are excited to announce that we have received financing approval for the last 52 houses which will be built as a rental community at Saanich Ridge. With another home sale closing in August, we are underway with more construction on the homes which will be sold individually, as well.
We plan to complete servicing for the last ten lots for individual home sales at the same time that we complete the land servicing for the 52 rental homes. Once the servicing is done in the New Year, along with interest rates coming back down again, we hope to sell out the remaining homes.
We look forward to providing an update to those investors in Saanich Ridge who have confirmed their intention to roll over into Housing Yield Units and will be sharing more details on that final step in October.
Construction Springs Forward At Five Bridges/ Five Crossings
In just 2 months since our last update, excellent progress has been made at the site of Five Crossings. This extremely successful residential project was funded by our Five Bridges Development Project investment and sold out during its launch weekend in May 2023. Follow the progress on the work site with the Construction Tracker.
Canadian Home Builders’ Association of Central Okanagan Housing Awards March 2024 Finalist: Multi-Family Builder of the Year Winner: Excellence in Marketing
Canadian Home Builders’ Association of BC Georgie Awards To be held May 2024 Finalist: Best Advertising Campaign
Canadian Home Builders’ Association National Awards for Housing To be held May 2024 Finalist: Best Short Video Finalist: Best Renderings Finalist: Best Mid-to High-Rise Building
Glenlake Highview Development Project
The Glenlake Highview Development Project features a targeted 9.6% preferred annual return and profit sharing for investors and will fund the construction of a large multi-family development in Langford, an epicenter of major economic investment and redevelopment that is commuter friendly to downtown Victoria. Watch for an upcoming webinar invitation coming soon.
Construction is Moving Quickly at Five Bridges/Five Crossings
In just 2 months since our last update, excellent progress has been made at the site of Five Crossings. This extremely successful residential project was funded by our Five Bridges Development Project investment and sold out during its launch weekend in May 2023. Follow the progress on the work site with the Construction Tracker.
Revo Kelowna, the latest Millennial Developments Smart Community™ funded by NAHF’s Collinson Rise Development Project opened sales this fall to become the fastest selling new development in Kelowna for 2023. Congratulations to all the LP investors that took advantage of their priority purchase opportunity to select a home in this high demand project, prior to sales opening to the public.
As we move into the festive season, the team at North America Home Finance would like to wish the best of the season to you, your family and loved ones. 2023 has been an incredible year of growth and success and we look forward to sharing exciting new investment offerings with you in January 2024.
Sincerely,
The North America Home Finance Team
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Five Bridges January 2022 Investor Progress Update
Momentum is building for the Five Bridges Development Project, as demand continues to remain strong, and comparable prices for similar-sized existing suites continue to appreciate. The appraiser that completed the report, being used for construction financing, placed the land value allocation at $8 million upon final development approval. For context – that is over $2 million more than the combined purchase prices for the six individual properties assembled for the project. In addition to the increase in value for the land, the total projected revenue valued by the appraiser for the project also increased above that of our proforma.
As previously announced, the window of opportunity to participate at the 9.6% preferred return rate is soon closing. This rate will no longer be available to new investors once the 4th and final reading has been approved by the City of Kelowna (the preferred rate after that will be offered at 8.4%). This works well for anyone looking to take advantage of the RRSP eligibility for the project as the contribution deadline for the 2021 tax year is March 1st, which still provides time to invest with RRSPs prior to the council meeting in March.
The Presentation Centre and demonstration smart suite are scheduled to open for in-person and virtual tours following our final Meet the CEO Zoom event. We’ll be offering a sneak preview during our Meet the CEO webinar on February 24th at 5pm and 6:30pm PST. At that time one of our panel will be broadcasting live from the show suite and we look forward to highlighting the incredible features, lifestyle, and value that this development will provide its residents.
The team at ACE Project Marketing is gearing up to launch sales in Spring 2022 and are preparing to contact all investors who have reserved under the investor purchase program as well as those who’ve expressed an interest in preferred access for purchasing a unit.
We have updated the construction budget and have finalized the project forecast along with completing the construction loan package, which is now going out to lenders. We are looking forward to sharing the updated budget following the 4th reading and are looking forward to a good news update in March.
Lastly, as those investors and potential new homeowners in Kelowna have noticed, real work is happening now on site as the demolition of the existing houses has started. The goal is for demolition to complete in March on all the houses after the last of the tenants have vacated. Then, with the pre-sales launch underway at the nearby Presentation Centre, the site excavation will begin. Once the big machines get moving on site, our quarterly updates will then include site construction progress photos and video clips, which we know everyone enjoys seeing.
We look forward to working with everyone who are looking to get their subscriptions in prior to the close out of the 9.6% preferred return offering. Please let us know if you are interested or still have questions, so that we’re able to respond promptly to ensure you don’t miss the last of the available equity for investment.
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Millennial Developments is Bringing Budget-Friendly Condos to Kelowna
Housing costs are a common and sometimes controversial topic of conversation in Kelowna these days, as the real estate market that continues to boom. According to the Okanagan Real Estate Board, the benchmark price for single-family homes in October was $961,600, representing an almost 30% increase over October 2020, and condominiums reached an average sales price of $477,700, up 22.5% over the previous year.
However, Kelowna wages aren’t on track with sky-high housing prices, even with the city’s active economy and low unemployment rates. Statistics Canada reports that the median income in Kelowna is just over $45,000 per year, so real estate costs in Kelowna have effectively placed many buyers out of the market, particularly young and first-time homeowners. Renters face an equally difficult challenge, with Zumper.com reporting the average rent for a one-bedroom apartment at $1644 per month in October, a 7% year over year increase, making it one of the most expensive rental markets in Canada.
With the common financial recommendation that no more than 30% of one’s gross monthly income should be spent on housing, many young Kelowna residents struggle to manage monthly rental payments and have limited opportunity to purchase a property of their own. But Millennial Developments is changing the outlook on real estate for many Kelowna residents with the Five Crossings project.
Centrally located in the Capri-Landmark district, this studio, one and two-bedroom condo development will offer prices starting in the mid-$200,000s, a price tag that is generating a lot of interest from first time homeowners looking for an opportunity to get a foothold into the booming local real estate market.
Five Crossings, which focuses on smaller space living with a wide variety of communal spaces that encourage living beyond one’s four walls, including a recreational space with a pool table, golf simulator, a stage for karaoke nights, a projection television for screening movies or sports events, and a communal kitchen and bar, as well as a large co-workspace and tech-friendly features, a cutting-edge gym with Peloton equipment, community garden and park space, and a rooftop lounge with covered atrium, outdoor barbeque center, and yoga platform.
The project is slated for sales launch in Spring 2022 and open for investment through the Five Bridges Development Project with North America Home Finance.
