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NSX Silver buying residential property owner, to become Vivere Communities Inc.

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NSX Silver buying residential property owner, to become Vivere Communities Inc.

NSX Silver Inc. said Oct. 11 that it entered into an agreement to acquire Residence Cameron Ltd., implying a value of about C$5 million.

Cameron is a New Brunswick incorporated company. Its sole assets are 63 multiunit residential properties.

NSX Silver will assume collateral mortgages of C$4.2 million held by Cameron and will pay the remainder in cash from a private placement

It plans to change its name to Vivere Communities Inc. as approved by its shareholders in June.

NSX signed a deal to sell its mining concessions late in 2015.