VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Amica Mature Lifestyles Inc. (TSX:ACC) ("Amica" or the "Company") announced today that it has completed its previously announced public offering of common shares of the Company by way of short form prospectus (the "Offering"). Under the Offering, Amica issued 2,750,000 common shares at a price of $9.00 per common share for aggregate gross proceeds of approximately $24.8 million. Amica has also granted the Underwriters an option to purchase up to an additional 412,500 common shares, on the same terms and conditions as the Offering, exercisable for a period of 30 days following the closing of the Offering. In the event that the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be approximately $28.5 million.

The syndicate of underwriters for the Offering was led by Canaccord Genuity Corp. and included National Bank Financial Inc., CIBC World Markets Inc., GMP Securities L.P., BMO Nesbitt Burns Inc., Raymond James Ltd. and TD Securities Inc. (the "Underwriters").

The Company intends to use the net proceeds from the Offering to fund the acquisition of an additional 73.5% interest in Amica at Westboro Park, as well as for equity and development costs for properties currently in pre-development and potential future acquisitions of additional ownership interests (if any) and for general corporate and working capital purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States unless registered or an applicable exemption from the registration requirements is available.

ABOUT AMICA MATURE LIFESTYLES INC.

Amica Mature Lifestyles Inc., a Vancouver based public company, is a leader in the management, marketing, design, development and ownership of luxury housing and services for mature lifestyles. There are 25 Amica Wellness & Vitality™ Residences, including a recent acquisition that the Company is transitioning to rebrand, one under development and one in pre-development. The common shares of Amica are traded on the Toronto Stock Exchange under the symbol "ACC". For more information, visit [ www.amica.ca ].

FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" within the meaning of applicable securities laws ("forward-looking statements").

These forward-looking statements are made as of the date of this news release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as otherwise required by law. Users of forward-looking statements are cautioned that actual results may vary from forward-looking statements contained herein. Forward-looking statements include, but are not limited to: statements concerning the Offering, the over-allotment option and other similar statements concerning anticipated future events, conditions or results that are not historical facts. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and assumptions include, amongst others, the effects of general economic and market conditions, actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgements in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could 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. Known risk factors include, among others, risks related to: capital markets; cost overruns, delays and start-up losses for new real estate developments; the availability of capital to finance growth or refinance debt as it comes due; the ability of seniors to pay for Amica's services; Amica's ability to attract seniors with its services and keep pace with changing consumer preferences; risks inherent in the ownership of real property; operational risks inherent in owning and operating residences; dependence on the ability of Amica's co-tenancy participants to meet their obligations; interest rate volatility in the marketplace; regulatory changes; job actions including strikes and labour stoppages; possible liability under environmental laws and regulations relating to removal or remediation of hazardous or toxic substances on properties owned or operated by Amica; the risks associated with global events such as infectious diseases, extreme weather conditions and natural disasters; foreign exchange rate volatility; as well as those factors discussed in Amica's Annual Information Form dated August 12, 2011, in the "Risks and Uncertainties" section of the Company's management's discussion and analysis for three months and nine months ended February 29, 2012 and as set out in the Company's short form prospectus dated May 4, 2012, all available at [ www.sedar.com ]. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward looking statements, will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements.