CHC Realty Capital Corp.

September 11, 2014 16:30 ET

CHC Realty Capital Corp. Announces Shareholders Meeting and Changes to Board of Directors

TORONTO, ONTARIO--(Marketwired - Sept. 11, 2014) - CHC Realty Capital Corp. ("CHC" or the "Company") (TSX VENTURE:CHC) is pleased to announce it has mailed its management information circular and related meeting materials for the Company's upcoming annual and special meeting of shareholders. The meeting will be held on Thursday, October 9, 2014 at 11:00 a.m. (EDT) at the offices of the Company's legal counsel, Wildeboer Dellelce LLP, located at Suite 800, 365 Bay Street, Toronto, Ontario. The circular and related meeting materials are available under the Company's profile on SEDAR at CHC invites its shareholders to attend the meeting to meet its management team and to hear first-hand about the Company's activities since inception and future plans.

CHC is also pleased to announce proposed changes to its Board of Directors. At the meeting, certain current directors of CHC, being Mark Hansen, who is also the President and Chief Executive Officer of CHC, Vaughn MacLellan, who is also the Corporate Secretary of CHC, and Thomas Murphy, will not stand for re-election as directors (Mr. Hansen will remain as President and Chief Executive Officer and Mr. MacLellan will remain as Corporate Secretary), and shareholders will be asked to elect four new nominees to the Company's Board of Directors for the ensuing year, together with Craig Smith, a current director of the Company. The four new nominees are Gordon Pridham (proposed Chairman), Louis Forbes, Philip Gillin and Ronald Schwarz.

Mr. Pridham is President and Chief Executive Officer of Edgewater Capital Inc., a private investment company, and has over 25 years of experience in the financial services sector having financed and advised companies in public and private markets across a broad range of industry sectors. Mr. Pridham built and ran the investment banking groups at Deutsche Morgan Grenfell, Research Capital Corporation and Raymond James Ltd. Mr. Pridham serves as a director of Newalta Corporation, U.S. Silver and Gold Inc., Titanium Corporation and RoxGold Inc.

Mr. Forbes is Senior Vice President and Chief Financial Officer of CT REIT, and has over 20 years of real estate and finance experience. Prior to his appointment as Chief Financial Officer of CT REIT, Mr. Forbes was the Executive Vice President and Chief Financial Officer of Primaris Retail REIT, and prior to that he served as Vice President, Director and Senior Canadian Real Estate Equities Analyst of Merrill Lynch Canada.

Mr. Gillin is Senior Managing Director and Portfolio Manager, Canadian Property Investments for Sun Life Investment Management Inc., and has 35 years of experience in the property investment sector. Prior to joining Sun Life Assurance in 1998, Mr. Gillin managed the real estate assets at one of Canada's largest retailers, and prior to that he with was one of North America's largest real estate companies.

Mr. Schwarz is an independent investor and capital markets professional with over 20 years of industry experience. From 2009 until 2012, he served as Executive Director of UBS Global Asset Management Canada, and prior to that, he was Managing Director and Head of Canadian Cash Equities at CIBC Wholesale Bank. Mr. Schwarz serves as a director of Noble Iron Inc.

The election of Messrs. Pridham, Forbes, Gillin and Schwarz to the Company's Board of Directors is subject to approval by the TSX Venture Exchange.

At the meeting, shareholders will also be asked to approve an amendment to the articles of incorporation of the Company so that it will be able to qualify as a "mutual fund corporation" as defined in the Income Tax Act (Canada) and the regulations thereunder. In particular, the amendment will add retraction rights to the share conditions attaching to the common shares of the Company, which is one of the conditions for CHC to qualify as a mutual fund corporation. Details regarding the amendment are set out in the Company's management information circular.

About CHC Realty Capital Corp.

CHC Realty Capital Corp. is an owner and operator of student housing properties which is focused on acquiring high quality properties in close proximity to universities and colleges in primary and well understood secondary markets in Canada.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • CHC Realty Capital Corp.
    Mark Hansen
    President and Chief Executive Officer
    (647) 288-9355

    CHC Realty Capital Corp.
    Robert Waxman
    Chief Financial Officer
    (647) 288-9375