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VANCOUVER, British Columbia, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Element Lifestyle Retirement Inc. (“Element or the Company”) (TSXV- ELM) is pleased to announce today that Mr. Edwin Brunink has joined the company as General Manager for its flagship residence OPAL by element ™ .

Mr. Brunink comes to us with a BBA degree in Business Administration and Hotel Management from Stenden University in the Netherlands. He brings more than 20 years of multi-unit business management experience, with a focus in hospitality and culinary services within the industries of cruise lines and retirement living. He is an accomplished leader and has a strong track record of success in developing and implementing a variety of strategic initiatives.

Mr. Brunink has held various senior management positions, ranging from Global Culinary Operations Manager, F&B Manager and Hotel Director with Holland America Line; Global General Manager with Oceania Cruises; National Director of Culinary Services with Revera Inc; Director of Operations with Jarlette Health Services’ Retirement Division, and General Manager with Compass Group Canada. Mr. Brunink prides himself on consistently fostering a culture that the team can be proud of, and exceeding resident, guest and company expectations.

Reporting to Element's Vice President Operations, Mr. Brunink will be accountable for the successful day-to-day operation of OPAL by element ™ . He looks forward to successfully implementing Element’s innovative model for intergenerational aging-in-place, ensuring that OPAL completely aligns with Element's core values, vision and mission, and delivers an extraordinary resident and family experience.

Mr. Don Ho, President, states, “We welcome Mr. Edwin Brunink onboard and look forward to his valuable contributions to our management team. He will play a very important role in materializing Element’s intergenerational aging-in-place vision at our flagship property, OPAL by element ™ . He brings to us many years of operational excellence in high-end hospitality as well as in the retirement industry, on a national and global scale.” OPAL has achieved a remarkable record in sales and leasing. At this point, OPAL’s condominiums are 93% sold and its rental suites are 98% reserved. Construction has been progressing smoothly and the residence is anticipated to open for occupancy on time in Q1 2019.

ELEMENT’S ACTIVE AGING-IN-PLACE PROJECTS

OPAL by element ™ : Vancouver West, anticipated to be completed on time, in Q1 2019, approximately $106 million, 142,000 square feet, 93% sold, 98% rentals reserved.

AQUARA by element ™ : Victoria West, Development Permit Application being processed, proposed for approximately 153,000 square feet, 160 units of Independent and Supportive Living, Licenced Care.

OASIS by element ™ : Township of Langley’s main corridor, passed 3 rd Reading for rezoning and DP on first phase, approximately 750,000 square feet buildable. 4 th Reading estimated for Q3 2019.

About Element Lifestyle Retirement Inc.

Element was established in June 2013 in Vancouver, British Columbia. It is in the business of providing specialized development expertise and flexible, innovative management services for senior retirement communities. The core business of Element is the development and management of third party assets in the "senior retirement community" space. Element aspires to be one of the most respected senior living specialists in North America, and to revolutionize the perception and experience of retirement and aging. Its brand differentiator, setting Element apart from others in the retirement industry, is the integration of two unique models: the "Continuum-of-Lifestyles" and “intergenerational living”, encompassing a smooth, seamless transition for seniors from independence to assisted living to complex care, and programming to actively facilitate connection of residents to their families. The management team of Element, collectively, has over 50 years of experience developing and operating retirement communities.

ON BEHALF OF THE BOARD OF DIRECTORS ELEMENT LIFESTYLE RETIREMENT INC.

“Michael Diao”

Chief Executive Officer and Director michaeldiao@elementliving.com

For further information, please visit www.elementlifestyleretirement.com or contact Investor Relations at (604) 676-1418.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statement Caution

Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of the Offering, the use of proceeds of the Offering and any statements regarding the Company’s business plans, expectations and objectives. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward­-looking information. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management’s good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent Management’s Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com  under the Company’s profile and on the Company’s website, www.elementlifestyleretirement.com . The forward-looking information set forth herein reflects the Company’s expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.