text: **Natural Gas Volatility**
  
  The Company expects to see continued volatility in natural gas pricing in Nova Scotia and New Brunswick until additional pipeline capacity is built 
  to alleviate supply constraints in Atlantic Canada and the Northeastern US, bringing pricing more in‑line with other areas of North America. In 
  the short‑term, Management will continue to manage properties to maximize energy efficiencies. In addition, where dual‑fired heating systems 
  exist, the Company will switch to oil when the economics support the change and will explore investing in increasing the base of dual‑fired 
  systems. 
  
  **Acquisition Activity With a Focus in Ontario and Two New Developments Underway**
  
  The Company expects to purchase a minimum of $75 million in assets in 2014. The concentration of acquisition activity is expected to take place 
  in Ontario, in‑line with the Company’s long‑term strategic goal of increasing NOI generated from outside of Atlantic Canada to 50%. Killam also 
  has two new development projects underway, including a two building 101‑unit complex located in St. John’s, expected to be completed in Q3 
  2014, and one located in Cambridge, with the first phase of 122 units expected to be completed in the first half of 2015. 