Mr. Dan Amadori reports

KINGSWAY ARMS RETIREMENT RESIDENCES INC. ANNOUNCES SHAREHOLDER MEETING RESULTS AND SHAREHOLDER APPROVAL OF AURORA SALE

Kingsway Arms Retirement Residences Inc. has provided the following update regarding recent developments. At its annual and special meeting of shareholders held today, Patrick Byrne, Dan Amadori, John Mackinnon, Frank T. Rossi, Bruce Dimytosh and Don MacKinnon were unanimously re-elected to the company's board of directors.

At the meeting, the company's shareholders also:

1. Unanimously reappointed Collins Barrow Toronto LLP as the company's auditor for the next financial year, and authorized the board to fix the remuneration of the auditor;
2. Unanimously approved the proposed sale of the company's Aurora retirement residence assets, as further described in the company's press release dated July 3, 2015, and the management information circular for the meeting, as supplemented.

The transaction is scheduled to close on or before Aug. 28, 2015. The TSX Venture Exchange has given conditional approval to the transaction, pending shareholder approval, which approval was secured at the meeting held earlier today. The company will now apply for final approval from the TSX-V. Promptly following closing, the company will issue a confirming press release to advise shareholders.

We seek Safe Harbor.