MARKHAM, Ontario, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX: SIA) announced today that it has completed its previously disclosed $170.7 million acquisition of Stonemont On the Park (“Stonemont”), a 305-suite retirement residence in Ottawa, Ontario.

Stonemont is a newly built, nearly 100% occupied retirement residence that opened in 2024. It offers a broad range of senior living and care options, from fully independent seniors’ apartments to supportive and assisted living with enhanced care services. The transaction includes an additional $10.0 million earnout contingent upon exceeding certain financial targets.

Sienna financed the acquisition with available cash on hand.

“The addition of Stonemont highlights the quality and scale of the opportunities available to us as we continue to grow our Company,” said Nitin Jain, President and Chief Executive Officer. “Since the beginning of 2025, we have added approximately $1.2 billion in assets through acquisitions and developments, with each addition reflecting our strategy of expanding in attractive markets and complementing our growing platform with high-quality assets.”

About Sienna Senior Living

Sienna Senior Living Inc. (TSX: SIA) offers a full range of seniors' living options, including independent living, assisted living and memory care under its Aspira retirement brand, long-term care, and specialized programs and services. Sienna's approximately 15,500 employees are passionate about cultivating happiness in daily life. For more information, please visit www.siennaliving.ca.

Forward-Looking Statements

Certain of the statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements generally use forward-looking words, such as “anticipate,” “continue,” “could,” “expect,” “may,” “will,” “estimate,” “believe,” “goals”, “target” or other similar words and are based on the Company’s expectations, estimates, forecasts and projections. These statements are subject to significant known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. The forward-looking statements in this news release are based on information currently available and what management currently believes are reasonable assumptions. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.

FOR FURTHER INFORMATION, PLEASE CONTACT:

David Hung
Chief Financial Officer and Executive Vice President, Investments
(905) 489-0258
david.hung@siennaliving.ca

Nancy Webb
Executive Vice President, Corporate Affairs and Marketing
(905) 477-4006 ext. 3030
nancy.webb@siennaliving.ca