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Sienna Senior Living Inc. Announces Launch of New Retirement Platform " Aspira❞ and Reports Second Quarter 2021 Financial Results - MARKHAM , ONTARIO -- ( GLOBE NEWSWIRE – AUGUST 11 , 2021 ) - Sienna Senior Living Inc. ( " Sienna " or the " Company " ) ( TSX : SIA ) today provided an update on its operations and announced its financial results for the three and six months ended June 30 , 2021. The Consolidated Financial Statements and accompanying Management's Discussion and Analysis ( " MD & A ” ) are available on the Company's website at www.siennaliving.ca and on SEDAR at www.sedar.com . Launch of New Retirement Platform “ Aspira ” " Over the past year , we conducted an in - depth assessment of our retirement operations and identified opportunities that will set us apart in a competitive market , ” said Nitin Jain , President and Chief Executive Officer of Sienna . " Under the Aspira brand , our goal is to provide residents with a wider range of choices . At the centre of our new brand is the conviction that seniors should be able to live the life they desire and deserve , with an increased emphasis on being a vital part of the local community . " • • Repositioning of retirement platform to distinguish service offerings and provide a wider range of choices for residents . The new platform will be launched in late 2021 / early 2022 , supported by a wide - spread communications and marketing campaign and a designated website for the Aspira brand . Growing the Company • • - Retirement Construction commenced at Sienna's joint venture development in Niagara Falls in May 2021. The estimated capital investment is approximately $ 50 million , with an expected development yield of approximately 7.5 % . Sienna's share of this 150 - suite greenfield joint venture development is 70 % . Long - term Care - The Company hosted a ground breaking ceremony at its 160 - bed redevelopment site in North Bay that was attended by senior government officials , including the Premier of Ontario . Sienna's estimated capital investment for this redevelopment to be named " Northern Heights Care Community " is approximately $ 55 million , with an expected development yield of approximately 8.0 % . Environmental , Social & Governance ( “ ESG ” ) Update The Company has provided an interim update with additional disclosures related to Sienna's human capital management practices , including : • Diversity & Inclusion • Approximately 80 % of the Company's management positions are held by women ; Approximately 50 % of Sienna's senior executive team is female ; • • One third of Sienna's senior executive team identifies as Black , Indigenous or People of Colour ( BIPOC ) ; ● • Sienna's workforce is equally distributed between the age groups of under 35 , 35 to 50 , and over 50 . Fair Compensation & Gender Pay Equity • Over 95 % of Sienna's frontline team members earn more than minimum wage ; • Approximately 80 % of Sienna's frontline team members are compensated at 50 % or higher than minimum wage ; 1